The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-10-16
Of their whea, for an advance above a

OF their wheat Tor an advance aooye 2
/ dollar. Whether they viii Re able &c
get as much as that or more depends
/ entirely upon the production IN coun-
tries whose seasons differ from ours
AM whose yield can only at present Be
guessed az II ls evident that the buy
ers have not depended upon the Off
/ cizi estimates, and that is why they
hare been holding of IN their pur-
F chases.
The American farmer is in such a
+ good condition that he should not
5eopsrdize bis assurance Of a good
profit By attempting 10 get too much.
Prom the latest reports 1t may be safe
20 assume that the yield Of 1897 viii be
somewhere in the neigh borhood OF $780,
0o0. 600 bushels. Judging by past ex-
perisnee. the foreign demand viii be
about I2s, 900 600 bushels, allowing SUI
fictent TO remain here for home con-
sumption. The price should not be far
short Of 81. No such price as that now
prevailing. say 90 cents. has been real
ized in September or October since 1891.
when the foreign demand was not sat
Isfisd with less than 225 900. 900 bush
els. and II IL an interesting coincidence
that 1891 gave the only crop which has
ever exceeded the current estimates for
this year.
II the fiscal year 1928. the exports
% wheat and -four were 19z, 600, 900
bushels, OF which 5I,000. 900 bushels
went out in the first quarter. This year
the exports in the first quarter have
been over 52.000,000 bushels, and for
eign adVices indicate a shortage 100.-
COO, 600 bushels greater than usual In
the last four years the exports from this
country have averaged slightly over
$4,000. 600 bushels, and were slightly
more than that quantity last year; so
that the increase In foreign deficit
would imply need of 245 900 900 bush
els from this country. unless foreign
consumption should be restricted or
the crops 10 come in after January
should exceed expectations.
This shows how important it is 10
the farmer TO have accurate informa-
ton concerning the probable supply.
In a rough way, II may be said that Or
dinarily this country needs 1872 ,000. 900
bushels, OF which about 337 goo 900 are
required for food and $4,000, 900 for
seed. That being the case, and the
foreign demand being 245 coo 900 BUSH
els from this country, and there being
only. according 10 the government es-
Inmates. $50 900 900 bushels TO meet ii,
II would be hard TO say what price
would be reached, because the competi-
ton would become so keen for what
was available. A difference OF 10000
600 bushels. making or refusing so
much to the foreign market, has a very
important bearing upon the price.
There is some reason TO believe that
the crop from Argentina will be better
than that Of last year. which is not in
accordance with the predictions earlier
in the season. II Is not calculated that
even this enlarged quantity viii by a
long way make up the shortage in other
countries. but there may be enough OF
IL to keep prices in check until the next
crop is In sight.
The most interesting query just now
Is whether buyers are buying for the
home market chiefly or the foreign
market chiefly. II the foreign market
is supplied, and we are made to feel the
effects Of the shortage, the farmers who
have not sold will benefit at the ex-
pense OF their eountrymen. IL the pur-
ehases are for home consumption and
stocks are held. the price will probably
so up for time. but IL is the foreigner
who will have TO pay the freight.