Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1897-03-18


bullish document bearing on the ques-
tion OF demand and supply of that
cereal in this country. Reference to
prices of wheat since last Wednesday
will indicate the importance already
placed upon it by the trade.
But whatever grain dealers, export
ers and carriers may think their
judgments are as likely to go astray as
those of any other class who give the
subject equal attention-the report de-
nands more than ordinary considera-
tion because OF efforts made by the late
Secretary of Agriculture and the de-
partment statistician to perfect the
crop-reporting service OF the govern
lnent. There is a popular tradition
that producers and holders OF almost
any of the great crops are. perhaps.
unconsciously prone TO underestimate
the size of their yields or holdings,
when considering the same for puhli-
cation. To what extent this may be
true it matters not. So when the
government statistician reported an
indicated total crop of wheat in the
United States in 1896 OF only AT ,0o0, 600
and when it was recalled that the
known distribution of wheat for sew
eral years had conclusively shown
previous official wheat crop reports to
be understatements of the fact, it was
only natural, in view of the heavy ex-
port movement of wheat and flour be-
tween July l, 1896, and February !,
1897, to regard the wheat crop estimate
OF 100000 bushels as too small
probably 3O,O0O,OOO bushels less than
the actual out turn.
But even then, with admitted de-
ficiencies in yields of wheat in Europe,
India, Argentina and Australia, the
outlook was for a heavy reduction in
the worlds total supply OF wheat for
1896 81, and the price of that cereal
made a notable advance during the
latter half of the last calendar year.
If the situation six or eight months
ago looked as bullish as outlined, how
much more so is it today, in view Of
the government report of the indicated
quantity of wheat in farmers hands in
this country on the first inst? If the
report be accepted we have only about
&c. .OOO, 900 bushels of wheat available
for export prior to July next and for
reserves on that date, which means
practically nothing for export.
Such well.informed periodicals as the
Cincinnati Price Current, the Mime
apolis Northwestern Miller and Market
Record, the American Agriculturist
the Orange Judd Farmer, not to refer
to Bradstreet's specially prepared re-
ports. all agree that there we're re-
naming in the country on July ! last
visible and invisible, not less than
100. 0OO. 600 bushels of wheat. If to tina
total there be added the government
estimate of the domestic wheat crop o
1896, Az, ,OCO, 900 bushels, there appear
to have been a grand total supply Q
wheat in the country on July l, 1896
amounting to 527,OOo,OO0 bushels
! During the first eight months OF tn
cereal year, or from July !, 1896, unit
March l, 1897, we exported in roun
numbers about ll3,0OO,00O bushel
flour included as wheat, besides cor
sumiug 2l6, 200. 900 bushels as food an
81 200. 900 bushels as seed for winte
wheat-in all, 366, 100000 bushels
pointing to about 16l, 100000 bushe
remaining in the country on March l
The government count Of wheat
farmers hands on the 1st inst. place
the total at $4,000, 600 bushels, beside
Bradstreet's reported 81, 2OO, 600 bushe
in store throughout the country,
addition to which there were not few
than 100000 bushels In uncountt
elevators and other stOcks-in q
nearly l53, ,OO0, 900 bushels, only 5000
600 bushels less than the previous
calculated total Of the quantity
wheat in the country on March
based on quantities exported, sown q
eaten, the government report Of t
- last crop, and Bradstreet's and 9th
estimates of reserves on July |, 1886,
The variation is not material. It
practical agreement. The questi
therefore arises, whether We are
! accept the government crop report
1896 Of only 427 900, 600 bushels? p,
ing the next four months Of the CURE
cerial year we shall need 100. co.,,
- or los, COG, 900 bushels Of wheat for X
and l7,OOO,O 900 bushels for seed
together. l25,OOO,0OO bushels Of
l53, ,OOO, 600 bushels, or the 16l, 600,
bushels. now on hand, both visible 1
invisible. The remainder, 5000,
bushels Tor 5000, 600 bushels, II !
ferred,) constitute then all that
mains for export between March !
july /, l897--a period Of seyent