The county record. [volume] (Kingstree, S.C.) 1885-1975, 1897-08-19
TOUR WHEAT IN DEMAND.
Price Rose Because Of Tremendous
Foreign Shipments
DOLLAR A BUSHEL PREDICTED.

As Fast as the Grain Reaches tho Sen.
board It is Put Into Vessels and
vanishes-Statisticians Figure Out a
Crop Of About Five Hundred Million
Bushels-very Short Crops Elsewhere.
NEW YORK CRY Especially Wheat still
climbs upward, bringing untold happiness
to the farmer, the retail and wholesale mer-
chants and the speculator as we'll. The en-
tire country finds in this high price for
wheat the cornerstone upon which the e1-
pected prosperity is to stand.
The best expert crop statisticians figure
out total wheat crop of about 500, ,o0o, 900
bushels. At the present prices for cash
wheat prevailing In Minneapolis, st. Louis
and this city the farmers are receiving
about ninety cents bushel for their pro-
duct. The wheat already sold OF the pres
ent crop Is about $4,000, 900 bushels, which
brought S57 600, 900, at the average rate Of
eighty cents per bushel. The balance Of
The crop, even should cash wheat not go
higher, will bring s415. 200. 900, an increase
over last year Of 1928 ,400, 900.
OF the crop Of 1896 there remained un-
sold on January Of the present year about
100, 600, 900 bushels. This was sold for An
average price Of seventy cents, an increase
Of twelve cents over last year. The total
received for these sales was S133 ,00d 900, an
increase OF S22, 800, 900 over last year.
peculiar feature OF the present crop
movement Is that while the new crop Is be-
ing rushed to market at rapid rate there
seems to be no increase In the stocks held
at prominent points. As fast as the grain
reaches the seaboard 1t Is loaded into YES
sells and vanishes. The Granger roads
Burlington, st. Paul, Rock Island, North
western and Omaha-are so glutted with
business as to find 1t difficult to find cars In
which to move the grain offered for trans
portation All OF the trunk lines and the
roads running to Gulf ports are iammed
with business.
According to advices from portions Of
Europe where the wheat crop has been
either partial or entire failure the de-
mand to be made upon this country to SUD
ply the difficulty will exceed 200, ,000, 300
bushels. The heavy buying by foreigners
has been the handspring in the upward
movement. Should such an enormous
amount go abroad the supply for consump-
tion here will be curtailed.
It Is dream OF the farmer and the
trader that wheat at dollar bushel shall
be realized again. Experts in the grain
trade predict that before the winter Is halt
over the price will exceed that. A contin-
uance OF the present heavy export demand,
1t is believed, will make that hope a real
ity. :.
The market for several days has reflected
all these conditions. Favorable advices
from home and abroad sent the brokers
early to the Produce Exchange. where an
exciting opening was looked for. It was
not disappointing. At the sound OF the
gong for the beginning OF business the
wheat pit was in an uproar.
Both the September and December op-
tions made new high records. September
opened 10: higher, at $500, and IN the
first half hour advanced 1c. per bushel, at
1890, closing at 89%c.
December opened with simultaneous quo
tations ranging from 87h(c. to 871$c., the
extreme price being an advance Of 20. from
the closing Of the day before. It then sold
up to 89Zc. and closed at 884c., net
gain OF 11sc. per bushel. On Friday Q
reaction was experienced In the wheat
market and the price dropped to 29sc.
bushel lower than the highest point It
reached Thursday. The break was at
tributed to the report Of st. Louis selling
at Chicago, and also to easier cables.
Dispatches from Chicago said that East
ern Indiana farmers we're still holding on
In expectation Of S1'W6eat.