Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1893-11-24
WHEAT.
Something About the Product and the
Markets From Several Sources.

Something About the Product and the
Markets From Several Sources.
Clapp & Company's latest circular let
ter from New York says:
Wheat growers usually the world over
sell about one-half to three quarters of
their crop the first third or half OF the
year after beginning harvest. This gen.
orally produces an increase for six
months in the visible in each country.
The recent past was no exception in any
wheat growing country, Russia Gaping
the climax in forwarding about 5000, 900
bushels, which increased the amount
afloat largely and indirectly said to the
world, I'VE have waited as long as we
can, in hopes that the United States,
India or Austria would stop shipping and
let the market advance" The amount
afloat and in our visible lie about l0l $685.
900 bushels, against 81, 1897 900 bushels
year ago. Total worlds visible about
220, 724 900 bushels, against about 1885,
274 900 year ago. India shipped more
last week than q year ago. Indications
point to growers and shippers placing in
this city before the Erie Canal closes 20
0O0, 900 bushels Of wheat, and 1000, 900
in Chicago, or more in the official visible
than ever. January %, 1898, the WISH
November and December for . decade
past the visible has gained. Growers
every fall create apparently tidal wave
OF selling which seems to depress prices.
Consumers do not follow old customs,
but buy only on the hand o-mouth plan.
| 1t is often limited that il growers would
sell and ship supplies regularly, higher
prices might prevail and smaller visible
stocks be under the nose Of the specula-
tive bear, who always seem to see
enough farm products in city elevators to
encourage depressing futures. New
wheat 10 being cut in Calcutta the new
crop promises good in India. Nearly
all winter sections report favorable fall
seeding and crop conditions. Evidently
the concensus Of speculative opinion is
that wheat is below cost OF pr oduction,
that the bears have aided unnatural de-
preston, that the money striDgeucy
broke down values, and has forced farm
ers to sell more freely than usual. Great
Britain has marketed but 80 per cent as
much wheat as usual .dany think they
have plenty of money and will stock up
at present unheard Of low prices. Millers
in many sections are advancing the price
of -four. 1t always has been good plan
to stock up about the time free liquida-
ton in speculative markets was going on.
We may be nearing the danger line
for short sellers. Many bulls are putting
in limited orders at slight concessions
from the market to pick up unheard of
low priced wheat for delivery about six
months hence free of all charges.
Seventy cents for May delivery in Chi
cago in 1894 is very low rs cents for 20
pounds in New York does not seem high.
Liverpool and London markets were
never lower.
H. F. Hesse, who has recently re-
turned from Tacoma tells the Spokane
Chronicle that the wheat shipments are
now practically under control Of two big
firms which are paying fifty-one cents for
wheat at Tacoma and receiving ninety at
Liverpool. He estimates their profit
fifteen cents on every bushel shipped.
ave have a new scheme by which
We hope to force them to raise the
price," said Mr.. Hesse. eve are max
ing arrangements to secure control OF a
big mill already fully equipped to turn
out buckwhest and graham flour, corn
meal or chopped feed, and supply the
home market. We will take cash when
we can get it, and groceries and clothing
when We are obliged to, and trade them
back to the farmers. By holding back
the supply it will force the buyers tc
raise their price,"
A dispatch from st. Paul SAYS: Care
full inquiry develops the fact that only 1
small proportion OF the wheat crop o
Minnesota and the two Dakotas remains
on hand The crop WAS 100 900 ,00(
bushels, Of which S0,00o,0 900 bushels
we're available for sale. The movement
of the crop has been enormous during
the past few weeks, with the result tina
So 900 900 bushels OF the $4,000, 900 have
been sold. The farmers we're compelled
to sell because they needed the money
and owing to the low price Of wheat they
had TO sell twice as much as in former
years to raise the money necessary Il
keep them through the winter and con
/: duct farming operations next spring. 0
the % 600, 900 bushels remaining, nearl!
all will be required by the Minneapoli
and Duluth mills and this, with tn
amount needed for consumption ant
, seeding in the Northwest, will leave no
bushel for sale outside. Northwest
ern farmers recognize the necessity o
having other crops than wheat, but t.
make the change more money would b.
required. This they cannot command
and will therefore be forced to continu
raising wheat almost exclusively for
. year or two longer.