The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1893-11-17
THE MOVEMENT OF WHEAT.

There has been a very general I'M
preston through the fall that the
farmers of the northwest were not
rketing their wheat as rapidly as
usual. but were holding it back for
higher prices. TO a certain extent
this was probably true during the
early part of the fall, but during the
LAST few weeks the movement of
wheat has been large, and the viSable
supply has rapidly grown,
According to review OF the wheat
crop of the northwest in the Pioneer
Press yesterday a larger portion of the
crop has been marketed than ever be-
fore at this period of the year.
From the figures at hand it places
the crop of minnesota and the Dako-
tas for this year at 100, 900, 900 bushels.
Deducting therefrom 20,0O0,0OO bush
els for bread and seed. there is left &c.
OO0, 600 bushels to be marketed, and 1T
estimates from the receipts since
Aug. that IS per cent of this amount
has been marketed, and there is hard
ly enough left in the hands of the
farmers TO supply the mills OF the
northwest until the new crop is ready
for the market. This estimate does
not take into consideration any of the
surplus of previous crops which was
remaining in the hands of the farmers,
but as this will probably average the
same from year TO year, it cuts but
little figure in the matter.
In this rapid movement of wheat
there is a possible explanation for the
low prices which have been received.
While the estimates at the beginning
Of the season were that there was
shortage in the worlds supply, there
has been nothing in the visible supply
that would denote this. And this
large visible surplus has had the eff
feet of keeping the price down. In
the old world as well as IN this cOun
try there have been large stocks uf
wheat on hand and the receipts at
ali times have been greater than the
demand.
According to Chicago statements
the visible supply Of wheat on Nov. 6,
1893, was Il, 1896 900 bushels against
GAIT, 900 bushels for the same date in
1893, and 80, 94l 96S in 1881, and o.
500, 900 in 1890.
If the information which the Pioneer
Press publishes regarding the north
west is correct, and there is no reason
for doubling but that it is as nearly
correct an estimate as any that have
been made or can be arrived at, it
would seem that when the visible
supply has dwindled away perceptibly
those who .still care holding their
wheat must realize better price than
has yet been paid. But as to this,
each farmer who so holds his wheat
must, as the FREE PRESS has many
times in the past said, be his own
judge. He must be governed to a
large extent by his own needs and re-
SOuICCS. luG UICuu VI SNCuuS uuIluS
the last two or three years shows
that the farmer who intelligently
studies the market reports is as well
qualified to judge the situation as
those who write the ''hold your wheat
circulars" and those farmers who
rely upon their own judgment after
looking the field well over, will seldom
miss it in term Of years.
This large movement of wheat in
spite of the low prices is undoubtedly
due TO the increased pressure of cred
ltOrs induced by the close times we
have experienced during the past few
months. While there are no figures
TO show such to be the case the FREE
PRESS believes that the percentage in
the movement Of wheat has been |
much smaller in the agricultural dis
tricts where farming has be more
largely diversified 1t stands to
reason that this must be the case, for
the farmer who has other products
which he can sell at a profit, will
hardly market his wheat at prices
which will hardly pay the expense of
raising.