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Senator WATKINS. Particularly in view of the fact that we have a threatened shortage for next year.

Mr. STURTEVANT. Definitely. We may be ending the cycle of big crops, and we have had three or four of them.

Senator WATKINS. It has gone in cycles over the years?

Mr. STURTEVANT. And we might be coming to an end of that cycle, it could be possible, and it might be on the other hand that Europe is going the other way. They may be ending their cycle of bad crops; at least you have to consider the fact that we may have a short crop. Senator WATKINS. In Europe it is not only due to the lack of weather, but the lack of fertilizer and other things have entered into the production picture.

Mr. STURTEVANT. Yes, sir.

The CHAIRMAN. If there are no other questions, we thank you, Mr. Sturtevant.

CANADIAN WHEAT BOARD CLASS I

AND CHICAGO NEARBY FUTURE PRICES
AUGUST 1946 NOVEMBER 1947

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