The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1891-07-16
The PROSPECT.

The price of wheat. like everything else
on the mundane sphere, is controlled by
the iucxorable law of demand and sup
ply. Demand is practically unvarying
factor from year TO year-hence che fore
cast al prices for the growing crop is
shaped by the prospects of the quantity
and quality of the crop. The Pioneer
Press has complied mass o! figures
which are as reliable, without doubt, as
can be made thus far III advance. and
they are given for what they are worth,
as much for the purpose OF showing how
"guesses at future prices are arrived at.
After stating that reports fro:' Russia,
India and continental Europe indicate a
light crop-not more than fifty per cent,
it SAYS:
Under these circumstances the grain
heids OF America are the cynosure of Eli
ropean eyes According 20 the estimates
of the National Department of Agricul-
ture the acreage of winter wheat
amounts to %. pa $40. which will give
an estimated Weld of 36o, 024 900 bu.
as against 255, 374 900 bushels i'll 1890
Tie corresponding figures for spring
wheat are IL, 9e2 900 acres, with yield
of ia, OBS 900 bushels, an increase Of
3o,ibG. 900 bushels over the yield for
for last scar. These items give a grand
total of SO, 236. $40 acres. with an esti-
mated yield of 543 062 900 fushels, an
increase over 1890 of 143, 500, 900 bush
els This represents an average return of
4 h,,cl,e1c tn tl,a m
with 1889 the increase in wheat acreage
is quite moderate The reduction last
scar OF more than 100000 acres sug-
sests the reason fer most OF the present
increase. The advance therefore. repre-
sents both replacement and develop
rnent, the former. for instance, in Illinois,
Missouri, Kansas and California, the
latter in less degree IN Washington, Ore
gon aud the Dakotas. This is only an
other pre- OF that extension OF acreage de-
ponds on the price OF wheat aud not up
on the amount OF land available.
While any figures prior to the use of
the sickle are speculative only, it would
seem that the government estimates are
TO be conservatiyely doubted. The acre
age is put down in round numbers at
$4,000 600 1t is very seldom that a
els to an acre, which rate would give a
total yield of 507 100000 bushels, while
the government estimates place the crop
at 543 100000. Allowing 1912 bushels.
AZ the average yield tae crop will amount
90 ASO. 00O,0 09 bushels. Those who are
decidedly optimistic may place ii at from
O0,OOO,OOO to $40 900 900, but it must
be remembered that this country has
raised 5O0,O00,O00 crop only twice,
While everybody in the American mar
kets takes roseate view OF the supply.
it is well to remember that the wheat re-
serves of Europe IRE very low; that the
crop prospects of France forbode de-
fciency; that Germany, Holland and
Belgium will wanc wheat, that Spain,
Portugal and Italy will be he heavy inn
porters; that the Austro-H udgarianc crop
will be of only fair dimensions, that the
English fields are backward and that
the reserves of old wheat in this country
are as low as they have been in Is years
and about thirty millions less, than they
were a year ago.
4, may be that the crop will furnish a
,napui,, cent credit to counterbalance all
these debts. but any calculations which
do not conside; an the initiating posi-
iilit;es are very sli,, rtsi.lited. But, how
ever that may be, the returns OF the
Northwest promise 70 Euctucte III n
nancial sense between the degrees OF
good and best. A fair crop viii Certainty
: be harvested in this section, aud the de-
1nand and prices will vary with the truth
OF the foreign and domestic conditions
outlined