The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-12-18
THE WHEAT SITUATION.

The wheat export movement of the port
continues unsatisfactory. UP to the 1st
of December there had been only sixty-five
cargoes OF grain cleared from this port for
account of the crop year OF 1o94-95, against
ITO in the previous crop year. Since the
beginning of the current month seven
more cargoes have gone out. At the open
ing OF business this morning there were
nineteen ships 10 port under engagement
for wheat loading and twenty-eight free
ships in port, all available for the same
business. On the 1st of June there was
$50, 300 tons of wheat in the State, eXclu-
sive of -four. The crop of 1894 in this
State has been variously estimated at
from 700,0 900 to $4,000 tons, the outside
total being the quantity credited in the
October report of the Agricultural Depart
ment at Washington. The quantity Of
wheat found in the State on the LIST of De-
cember. according to the report of the San
Francisco Produce Exchange, was 652, 900
tons, exclusive of flour. Dedueting the ex-
port up to December 1 and making due
allowance for what has been taken for
local consumption in the form OF bread
stDtfs, the wheat crop of California for
1894 was not much in excess of 662. 400
tons.
The stock on hand on the 1st was nearly
equal to the crop, SO there was exported
and consumed ND to that date only what
was left over from the 1893 crop. From
present appearances there will be a large
stock carried over at the close Of the
present crop year. This result IS due to
the unsatisfactory condition of she foreign
markets in the past six months. But it is
doubtful if we could have marketed all
our surplus by the end OF the year even if
nrices abroad had been more favorable.
W bile there has been at all times In the
past six months an abundant supply OF
tonnage in port for much more active
export movement than has existed, it is
nevertheless true that the tonnage now
here and in sight to arrive by the end Of
May is altogether insufficient to carry off
the wheat now in the State, all of which
is available for export, as the invisible
supply and what will be received from
Oregon and Washington will be more than
sufficient for the wants Of the market
until another crop is ready for the harvest
The scarcity of tonnage at the north and
particularly at Tacoma has resulted in
large shipments of wheat to this port from
sister States.
The two most pronounced factors against
a more active demand for American wheat
have been the large crops this year both in
France and in the Argentine Republic.
The official report of the French wheat
crop shows total of $50. $50, 900 bushels.
This is an unusually large yield. and it
practically makes France for the next
twelve months independent of foreign sup
plies, as the consumption of that country
varies from 334, $4,000 to 354, 1850 600 BUSH
els per annum. France is almost invari-
ably counted upon TO take from 10000, 600
to 10000. 600 bushels of foreign wheat. 1t
is the opinion of some French authorities
that the worlds wheat crop for 1894 was
over 80 per cent 10 excess of the worlds
wants. That is probably az extreme view
of the situation. It is evident, however,
that more than enough wheat was raised
in 1894 for supplying the world with bread
stuffs for twelve months. The growth of
wheat culture in Argentine is remarkable.
The exports from that country for the first
six months of the cereal year are in excess
of any previous full year. 1t is In tmated
that the maximum has not yet been
reached in that country.