Omaha daily bee., 1892-10-17
TIE WHEAT PROBLEM.

Iho phenomenal movement oil wheat
from the west to the markets of the east
is a fruitful theme of discussion among
speculators and dealers in this cereal,
and the best authorities are entirely
unable to account for it. The crop is
below the average and both foreign and
domestic demand has thus far been light
and yet the shipments surpass those of
any previous year at this season. The
New FORK Commercial Bulletin discusses
the subject exhaustively in all its as
pects and finally acknowledges that it
cannot solve the riddle. Speaking of
the shipments OF last week and the week
before that journal says: ''In the two
weeks together the aggregate has been
nearly lS,000,O00 bushels, but it has
never been more than l6, ,000, 600 bushels
IN any two consecutive weeks before. "
During the ten weeks ending on October
8 the receipts of wheat at the principal
western ports were about 100000
bushels Last year, during the same
weeks, with an immense crop to be dis
posed OF and a good European market
to supply, the receipts were only 67,000,-
600 bushels, in 1890 about 100000 600
bushels, in 1889 about 34,COO,00O bushels
and IN 1883 less than "a, ,000,0 900 bushels.
'!It is something quite beyond ordi-
nary comprehension, says the journal
quoted above, that wheat should con
tinue to come forward IN exceptionally
large quantities but FROM n compare.
lively small crop, to meet the lowest
,,,i., t-Yn Mnn lNe
that an urgent foreign demand helped
to stimulate the movement The export
demand has been light, and the exports
in September much smaller than year
ago. The suppOsition that II domestic
| demand was the moving force is mad
| missible, for the stock In visible supply
| inc reased during the month OF Septem-
Der about 10, 000, 900 bushels, and rose to
the unusual aggregate of Al, 100000 Octo-
ber l, exceeding last years visible
supply by 20,OOo, 900 bushels. To all APP
| pearances there was nothing to draw
wheat forward into the stores OF COM
mercial cities in such quantities"
| The problem does not appear to be an
easy one to solve, but two theories that
may have some value are advanced by
! Omaha dealers who are usually well
informed concerning crop movements.
| Ono Is that the farmers of the west
were caught last year by needing the
advice OF the alliance to hold their
wheat. They followed this advice to
such an extent that they finally sold a
great deal of wheat on II falling market,
| realizing less than they might have
done. Again the general disposition of
farmers is to hold their wheat when the
market is rising and to sell it when
there is IA downward tendency, and last
years experience may have increased
their inclination to get rid of their stock
this year before prices should fall lower
than they are at present. Another
theory is that tho remarkably dry and
pleasant weather that has prevailed in
the west this fall has led the farmers tc
get their wheat off their hands AS soor
as it was ready in order to escape the
risk always involved by wet weather
| The western farmer as rule has nc
place to store his crops. He threshe.
his wheat from the stack, puts it il
sacks aud gets it to market when the
weather is favorable, Last year the
threshing was delayed IN many locali-
ties by rains, as it usually is. Perhap
this theory is the best that can b'
offered in explanation OF the remarkable
wheat movement at present
J What will be the effect upon the mar
ketl That is The important question