Corn, Oats

The luck of the long unlucky "grain belt" remained good. Wheat slumped somewhat, after its recent sharp advance. But its place was taken by corn and oats. The former has risen to over $1.00 a bushel, while the latter has already passed 50-c-. Since Jan. 1, corn has risen over 20-c- and oats over 10-c-, thus adding over $500,000,000 in value to the corn crop and about $125,000,000 to the oat crop. As far as the former is concerned, rising prices of moderate extent for all staple grains is much more beneficial than simply a runaway market in one of them, even wheat. Prosperity in the latter case is confined to certain sections and to specialized farms, whereas under the former and existing conditions it is spread throughout the country.

The immediate effect of better grain prices should be seen in the repayment by the farmer of bank loans and taxes which have troubled him. Moreover, in this Presidential year, it presages well for the candidacy of Mr. Coolidge and badly for Mr. La Follette. The increased cheerfulness produced in the "wheat belt" by rising prices is now beginning to be rivaled by the optimism of the even longer "corn belt." Moreover, the rise comes at just the time of year when the farmer can most easily profit by it himself.