New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-20
SELECTIONS FROM THE MAIL.
WHEAT.

SMALL, EXPORTS AND LOW PEfcES-IhE fhop-
.ptr CROPS FOR TIE LAST THREE YEARS
To the Editor OF The Tribune.
Sir: Exports OF wheat are Disappointing !"
July the first month Of the new crop year. the
ouantitv exported from all points. -four Included.
was equivalent to II 631 057 bushels. against H.
1oA as2 bushels IN the same month last year.
There was a decrease Of less than 10 per cent IN
exnorts Of -four but OF wheat only 5o4Isii oush-
oils went out. against IL 444Il3 bushels last year.
This decrease not mainly due to the nearly
complete paralysis on the Pacific Coast "hence
only 200 bushels were exported against l'io'-
600 bushels last year. for the Atlantic exports
were only about 900 bushels against LOW
600 bushels last year. The crop year, therefore,
begins most inauspciously for the producers anu
the srnallness OF exports Is the more important
because the Government report ana nearly
all unofficial statements prior to the midde Oh
JuIv indicated a yield very far below the aver
age Under such conditions. foreigners would be
likely TO buy more largely than they would have
done otherwise. especially az the average price
I'm July was altogether the lowest ever known III
any month only 81 cents at New-fork.
Trade on both sides Of the ocean treats the
covarnment estimates Of yield with entire con-
temn, The unofficial estimates now most gen.
orally trusted point to n yield exceeding 45o.OD-
600 bushels. The facts seem to indicate that the
Weld will be even higher. The movement or
wheat from farms to Western markets has been
larger than a year ago. from July to August 10
about 90 2J9 bushels. against 2l1l9'Ss bushels
last year when the crop was certainly over oV'-
600 600 and 36s57ll5 bushels in the same weeks
OF 1892 when the crop was large. and 35I52z3l IN
the same weeks OF 1891. when the crop was the
largest ever grown. Moreover, the average price
in July thus far has been only 5733 cents. ana IN
July 81 cents, against G7S4 cents In August ana
70N cents In July last year. 1t seems 10 ne
dononstrabe tina: the yield Of 1893 exceeded 500.-
600 900 bushels. Some months ago stated that
the Government estimate would prove at least
100 900 900 bushels out OF the way and the year
records show that the error was even greater
Tho moan population during the last crop year
according to Treasury statements was S',6nooo
On that n, the usual rate the consumption In arts
and for food would be 313. 00.232 bushels. II the
Treasury estimate OF population is too low higher
figures would make the consumption larger ana
con seoucntly the error OF Government estimates
tn the consumption for food stated must be
added at least the official estimate OF 54oooooo
bushels for seed which IL also an under-state-
mont The official returns show that the net eN-
ports. -four included. during the year ending June
| 30 were l633l6675 bushels, so that at ieas'
53l III 900 bushels have gone out OK STOCK LOT 'ie
| crop OF 1898 Visible stock was about sooo'ooo
bushels less at the end than at the beginning OF
| the wear Yet the Government reports yeia
| OF only ?as LIS bushels. IT was hardly worth
while to pretend for the first time 10 Know the
exact quantity in bushels IN an estimate oe-
| monstraby so Wild T.,
| II Is said that the errors may nave oeen VI
previous crop estimates. which were olI'VOooo'
| hrs,el. In 1891 and 5Is 5000 bushels in 1892.
| making 1924 900 900 bushels In the three years
I'm, Il is demonstrable that the yield must have
been at least i7lO 1000 bushels In these years,
| and the Government total was probably Zzsooo'VV
| bushels out Of the way. The following SHOWS
| visible supply at the beginning and END OF 'ne
three years. the consumption for food ana seed'
the actual exports officially reported ana 'he
Weld Indicated by these records and the "a''h
| returns OF wheat In farmers hands: