Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-09-19
WHEAT.

Last week wheat advanced about
three cents bushel, but exports were
not checked nor diminished. They
were, in fact, larger by 100000 bushels
than those of the week preceding. The
total up to date for the present fiscal
year is over 1000, 600 bushels. Here
is a comparison Of wheat exports for
the same period during the past four
years:
First eleven weeks Of 1s93...... ID 1922
First eleven weeks Of lS9}...... ......35 55l $40
First eleven weeks OF lS9l.... as 51O69l
FIRST eleven weeks OF lS9O... ......"2l, '9J,SoS
The New York Times, in analyzing
the situation, shows that thus far the
shipments have been at the rate of
nearly PSF, 900, 900 bushels per annum.
The significance OF these figures is more
clearly seen in the light Of the fact that
the exports last year, following the har-
vesting Of two very large crops in sue
cesslon, were 1872, 900, 900 bushels; that
the exports for the year before, follow
ing the harvesting OF our largest crop
and stimulated by an exceptional short
age in Europe, were 225, 600, 900 bushels;
that the average for several years up to
that time had been less than Us, 900, 900,
and that the crop of this year Is very
small
Uniort unately, experience has Sh own
that the government reports are not
trustworthy. The reports for this year
indicate crop not in excess Of $780,
900, 600 bushels. The normal demand
at home for consumption and seed re-
quires about 365, 600, GOO bushels, so that
II the government report is even ap-
proximately correct, the export demand
must be satisfied mainly out Of the sur
plus carried over from previous years.
1t is quite probable that the estimate
indicated by the government report
falls considerably below the actual
Weld. Within a few days the news re-
ceived from the great wheat district Of
the Dakotas and the Red River Valley
has shown that the crop there was
underestimate. BradStreets has re-
peatedly expressed the opinion that
the crop would be nearer $50, 100000 |
than 4oO, OOO 600, and no journal col
lects crop statistics with greater care.
On July the available stock in sight !
was about 10000 200 bushels, an excep-
tionally large supply, o~d IT. was DO
llevad that the stock in farmers hands |
or elsewhere back of the available |
Quantity in sight was in the neigH~~.
hood OF 10000, 900 bushels, assuming
that the invisible supply OF 3O'OOO'ooo
would be sufficient to provide the or
binary surplus to be carried over at the
end of the present fiscal year, and that
the new crop is only 3SO,OOO' 600 bush
els, the quantity available both Tor
home demand and export would be only
AKA 600, 600 bushels. If we deduct $780,
OOO. 900 for home consumption and seed'
there remain only 91,OOO,OOO available
for shipment to Europe in the twelve
months.
But in eleven weeks we have export
cd 54.OOO,OOO. Is it probable that there
are left only $1,000, 600 20 supply the ex-
mort demand for Al weeks? If the new
crop is only $50, 100000 and the invisi-
BILE supply at the BEGINNING OF the year
has been fairly estimated, continual
ton of the export movement at the
present rate would exhaust in two
months the quantity available for ship
ment. and then there would be more
than seven months of the crop year re-
naming.
Even IL 1t be admitted that the new
crop is as much as 425,OOO,OOO bushels,
an addition Of As, 100000 to the estimate
indicated by the government report the
ouautitv remaining available for ship
ment would be only 50, 900, 600 bushels,
or an average of only 1000, 900 per week
for the Al weeks remaining, and the
exports for the entire year would be
only 1876, 900. 900 bushels, instead OF the
256, 900, 900 indicated by an average OF
nearly 5000, 600 per week for the eleven
weeks already past. 1t is an interest
ing problem, and there will be some
changes in the condition of the wheat
trade before it is solved.
BUSINESS VS.. FUN.