Grain Prices Received by Farmers FOB Milbank, South Dakota

The series of grain prices here presented are calculated from records of terminal market prices by deducting freight charges. In the absence of actual historical local price data this will serve many of the same purposes, subject to the limitations discussed on the inside back cover page. People interested in agriculture and efficient farming are very much concerned about prices. Unlike producers of branded products, farmers have been unable individually to control market prices through control of production. Since individual farmers have found that, in general, prices have been determined by forces beyond their control they have attempted to increase their income by reducing costs and by increasing the volume of products sold. Thus by comparison it might appear that price, an equally important factor in farm income, been relatively neglected in spite of the obvious connection between low prices and farm depression. The publication of local price series over this fifty year period is in tended primarily as an aid to further studies of the serious economic problems confronting South Dakota farmers. The period begins with August 1890, and ends with July 1940, except in the case of corn where it extends from November 1890 to October 1940