The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1889-07-05
TnL WHEAT MARKET.


! From private letter received at pcndle.
ton from prominent and well informed
wheat dealer at Chicago the East O,sgouiaa
makes the following extract
"I regard The government reports as
gross exaggefations OF the iacis,an do not
eatlinrte The crop TO exceed 4so,ooo.ooo
bushels. The only states that show more
than ordinary prospects nre Kansas and
Missouri, and Il Is mol set certain that the
high cxpeesions In Missouri will be fully
realized, as chlnch bugs and The IIesslan
fy are swarming there In great numbers,
and the agricultural board Of that state
have reduced the conditions SIX points
since the first Of May. Conditions are new
ga. Our general average OF vii the winter
states Il Ss, With prospects Of further de-
cline. This has been oeeasloned by the
early and continued dfouth.an insect rev.
ages. We figure the winter wheat crop
| 3of 100000 bushels, and allow 6S 10000
for export from the Pacific slope. East q
the Rockies the winter wheat viii not ex--
ceed 933,ooo,ooo bushels. The entire spring
wheat will not amount to oyei 10000 600
bushels, and may fall considerably below
that. as the dreu,h con,innes,an the plant
IL In poor condition. All our elevators and
granarics In the country are bare, and our
visible stocks are now reduced To about
7s.ooo,ooo, with prospect Of \ further re
duc,ion Of the coming week of 100000
more. So you see shat little we have Is
going rapidly into consumption and being
exported out OF the country. II Is more
than likely that the ist of July will see the
smallest visible supply ever known In the
history Of the trade-say twelve or thirteen
millinuA. The stocks are getting 30 low
and the wheat 30 small In quantity that the
demand for nome consumption viii absorb
all the early offerings. All that will be
necessary lot farmers Is 10 hold OH TO their
wheat and ie send II forward sparingly, IN
order to command good price
"Now In regard 10 the European crop,
the outlook Is net promising, except In
France, which has fine promise Of crop
OF a9oocooeo bushels. The exporting
countries this year viii have little TO spare.
india produces 9o,ooo.noo bushels, but In
eonsequ snce Of the failure OF the rice crop
cannot spare more than fifteen to twenty
million bashels. Australia will import In.
stead OF export. So will the Argentine
Repubiic and other countries Of South
America. Russia. which Is the great fac.
tor In the market, is partial failure this
year. We estimate her winter wheat 90
per eent, and spring wheat Is to 20 per
cent less than Las, year or In round fig
ures a crop OF iso.ooo,ooo bushels. The
winter was the most severe known In Rus.
ala since isis. and the spsing wheat has
suffered from dronth. but the great mhtor-
tune l. the injury TO rye, which wil un
dcubtedIy restrict her experts of wheat this
year 10 not TO exceed go. eoo.ooo bushels. |
Extreme cold weather prevailed all winter
Ia Australia and Hungary also In Ger
many, and the crops nave been damaged
to some extent. but We have no data, aud
make no estimate. The ,ioeks of wheat
and -four are the smallest known for years,
while the quantity OF that on o>ean passage
has go; down to about sooo.o 600. and will
continue decreasing for the next six weeks
without goIns more particularly Int
detail, this Il The general situation. We
shall have m urgent demand for our wheat
when II Il ready for market. might also
say that there are 100000 bushels OF
wheat counted In the visible supply which |
should not be 70 counted 100000 In
Minneapolis and 100000 In New York. |
That In Minneapolis Is frosted and no
grade and must be sold for feed. and that IN |
New York Ia mixed stuff which has been
doeiored up and traded on for years"