Courier Democrat. (Langdon, N.D.) 1891-1920, 1891-07-09
Uncertain Grain Markets.

Uncertain Grain Markets,
The worlds wheat crop of 1880 with
the reserves" was below the cCf
sumption demands of the NATIONS as al
whole, and the competition among pur-
chasers advanced prices materially. |
This lessened the consumption so much
that the continued advance was check
ed before reaching very high figures. /
The higher prices usually bring out an
unusual percentage of the reserves. +"
that is, the limited amounts usually
carried over by farmers when prices
are low or moderate. The total defici-
ency in the world prove not to be so
great but that the crop, with reserves,
would have carried the consumers
through the crop year or 1901, at
about the prices which have prevailed
during the last " months. The great
question has been and and still is
WHAT WILL THE CROP OF 1891
turn out to be? The past winter in
Europe was one of the severest which
had been experienced i'll many years.
Its influence extended into the Spring
season and affected the winter wheat
and rye very materially in numerous
localities, particularly so in France,
where the crop promises a deficiency of
from l25 to IT'S million bushels, con-
siderable part of which will have to be
imported. The reports from Southern
Russia and Southeastern Europe gen.
orally, are still much mixed. There
was not large crop either in India or
Australia. (Their wheat harvest &C.
ours during our winter season, in the
midst of our crop year, In America,
on the contrary the winter wheat came
through in better than average condi-
ton, in many localities much above,
and spring wheat promises we'll.
But here, as in other lands IN the
Northern Hemisphere, the wheat crop
is not yet past serious damage, and
will net be until safely in the bins and
elevators. A serious attack of insects
which multiply suddenly and with
amazing rapidity may greatly diminish
the total yield. Early frosts in more
northern great wheat growing localities
or severe harvest storms, or mildew
weather, may have a like effect. In the
present condition Of the world supply
Of wheat, it will require but a small
percentage of deficiency, or of surplus,
to largely affect future prices. The
uncertainty as to this is causing the
''Ticklish Condition" in the entire
markets of the world.
A FEW WEEKS AGO
lin the latter part of April) the outlook
was such that wheat shot up to above
81 .O0-up to 81. IS bushel in the Chica-
go markets;the conditions in this coun-
try and elsewhere warranted these fig
ures. AS the days and weeks have
gone on, the conditions lave changed
somewhat, and prices have declined
materially. Eight weeks ago it was an
even chance of up or down in prices; it
is hardly different to-day. Reports of
serious storms OF cold spell in even a
limited locality, are sufficient to raise
the price one to five cents per bushel
which means five to twenty-five million
dollars in the aggregate crop of our
own country. Every succeeding day
Of good OF bad weather for gathering
the crop where matured, and for devel-
oplng and maturing that still in the
growing stage, will change the situa-
ton and affect prices favorably or un-
favorably, the world over. The telegraph
has SO brought the ends OF the earth to-
gether that any local influences are of
worldwide effect. Those who live by
speculation are betting on the chances.
! For producers, the chances to-day for
advance or decline are about equal.
AS to corn, oats, etc, the above re-
marks apply in agreater OF less degree.
BRADsTREET's "WuEAT OUTLOOK
Since putting the above in type, we
have received Bradstreet's Journal OF
June 9th, which gives three or four
articles and items on wheat, the lead
ing one headed. "OUTLooK FOR HIGH
Err PRICES FOR WHEAT" of which we
condense the chief items, The various
estimates for the United States wheat
crop of'1S91, run all the way from 4sO
to 800 million bushels. A moderate
view of the prospects indicates about
500, 100000 bu. The total stock on July
LIST is reckoned at IS, 100000 bu. which
includes the Immediately available lin
sight) and the unavailable, that not
probable to come out of the farmers
hands in any considerable quantity.
This gives only 100000 bushels for
use during the coming crop year, if we
allow the available stocks to be about
the same next year. There are 7,OOO.-
600 bu. less wheat in sight now than
on July last year. The home wants