Geography of Wheat Prices: Summary of Conditions Affecting Farm Prices of Wheat in Different Parts of the United States

Excerpts from the report: This publication deals with the wide variation in the producers' price of wheat throughout the continental United States. State price averages usually embrace large areas and dissimilar conditions; therefore the county has been used as the smallest available working area wherein approximately similar conditions of supply and demand prevail. As the ratios of sectional prices fluctuate with unusual market conditions, an average for the five years, 1910-1914, was employed to differentiate normal from spasmodic differences. Basic figures for each of the five years were compiled from an annual total of about 30,000 township reports. The result constitutes, in effect, a survey of the geography of wheat prices and price factors. In assembling the material herein, a threefold plan has been pursued: First, a tabular presentation of the price averages, by counties (Appendix, p. 34) is supplemented by maps and graphs, to show geographic price zones and related factors. Second, the most suggestive bearings of the indicated price differences are outlined. In an empirical method of treatment only is this phase attempted, for price factors are complex, frequently interdependent, and are not susceptible of absolute measurement. To this has been added a brief retrospective view of price factors from 1871 to 1915, for the purpose of showing present tendencies through their indicated development. Finally, gross price has been contrasted with actual returns by coordinating prices, yields, and cost of production per bushel and per acre.