Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1894-01-26
TIM WHEAT SITUATION.
Cispp = Compsny's Latest Weekly q
cular letter on the Subject,

Ciapp h Company's Latest Weekly CIR
cular letter on the Subject.
Our government reports since 1880
have often been freely admitted by crop
reporters, statisticians and critics, ss be-
ing and averaging the best in any coun-
try or by any self. constituted authority
giving the news to the public. These
periods usually occur when producer and
speculstor are very bullish and the mar.
ket is at high range of values, and when
1t was universally admitted the invisible
and visible were each at q minimum
point Of supply, AZ in July, 1861, whom
but II ,5SS, 456 bushels; or In Aug, 1889.
when 1t WAS but IL, 6S8, 122 bushels or in
June 1892, when it was but 8, APT 900 bush.
els. At other intervals the bears and
their assistants, crop reporters and city
self-constituted statisticians have gath
cred news Of the visible supply at thou
sand or more points, apparently making
the supply as large as possible in order
to keep Europe and consumers laying in
supply or to bolster the stock market
and railway earnings. They evidently
labored hard to freeze out the farmer by
trying to depress everything he raised.
We have often said we believed the
leader OF this class of statisticians had
cost our farmers annually from to 10
cents per bushel ON their wheat crops.
We think there are many evidences in
the country that will likely again mater
ialize this year and prove the producer
has unusual light stocks and will control
over values. The recent governpent re-
port indicates acreage for 1893 was but
"a 1929 l8 acres, yielding but ia bush.
els per acre and producing 1896, 13i ,715
bushels In 1891 the acreage was gwen
"a 39,9l6, S97, yielding Is bushels per
acre, and outcome Gil, 780, 900 BUSH
els. Now the government estimate
for the winter wheat crop OF 1894 sown
last autumn is for SO 2 per cent Of that
grown In 1893, or say about 900, 900
lees acreage, or the smallest since 1879,
when tho total was but 80 Dad, $50 acres
both winter and spring. A wild guess
leads US to expect the smallest crop Of
wheat this year since resumption OF spe-
Gle payment fifteen years ago. 1t is but
natural to expect an easy money market
surrounding the visible wheat supply,
with good export movement and steady
decrease in the visible, caused by q small
reserve, will advance prices. Looking
back we end seven year average export
movement the first half Of crop years
from June 80 to December 81 show SO
per cent Of the wheat exported wen be-
fore January 2. Exports to date have
exceeded LOG, 90. 900 bushels On this
basis exports for the year ending June
80, 1894, will exceed 100, O0O, 900 bushels,
or 90, OOO, 900 bushels more, estimating at
an even rate equal TO the present weekly
export movement, $1,000 bushels
Sentiment is much more bullish than for
thirty days past and prices following the
government report were practically up "a
those prevailing q month ago. Cont
mental buying has continued, not aggres
sive, but steady, OF the better sorts o.
wheat. Flour stocks are only about
three quarters a. large az a year ago, ant
not accumulating. Country millers art
buying moderately at primary storage
centres, and report minimum supplies o
wheat and -four.