Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1898-09-09
WHEAT STOCKS LOW
FARMERS HOLDING BACK FOR
BETTER PRICES.
Because They Got.Good Prizes. for the
Last Crop, They Are Led to Believe
that the Same Good Prices May
Again Be Secured.
HoardinR the Wheat.

Gn0I the same food Pficce May
Again BE Secured.
Hoarding the Wheat.
Information gathered by Chambers of
Commerce indicates that the visible sup
ply of wheat throughout the country is at
q lower ebb than for several years at this
time. The opinion prevails among large
grain dealers that farmers throughout the
West are holding back their wheat with
the expectation of realizing better prices
than are now offered. 1t is argued that
the prices realized from the last crop have
placed them in a position which enables
them to hold their grain, which in former
years they were forced to sell almost i'm.
mediatey after harvest.
Tho orders which had been expected
from abroad have not materializcd. Their
absence is explained on the ground that
many European countries had expected
that in the Spanish war American ports
would be blockaded, and in anticipation
of this state Of affairs, which was not real.
lied, n large supply Of grain was laid in,
This rush partially explains the high
prices which were paid for wheat in the
spring.
1t is estimated that there are less than
100000 bushels of wheat in the public
elevators Of the country, which, in the
opinion of the trade, means that stocks
are practically exhausted. or this
amount nearly one-half is located at Min
ncapolis, Duluth and Chicago, with the
rest scattered around ut scaboard points,
and il the interior. Some of it is afloat ON
the lakes, ION passage," as it is called.
In of n ~ uf this 4Sp.o k1,@ nA~~Y 9Th
BILE amounted to 1G, 100000 bushels, and
in the middle of August, 1896, they aggre-
gated 45,OOO,OO0 bushels. Some six years
ago stocks fell as low as 100000 bush.
els on July i, but were speedily augment.
ed by the supplies of winter wheat which
generally begin to move from the South
western States about that time Of the
year. Up to the present time this move
ment of new wheat to primary points can
not be said to have begun.
The situation this year is very peculiar.
In fact, 1t is so unique that spectators
are puZzling their heads to find some rem.
edy. The situation has it's %paradoxical
side. While the stocks that may be
bought and sold to-day, tomorrow or next
week are the smallest ever known, scarce
~ enough to keep the people Of the Unit
ed States in bread FIVE days if they were
all to be ground into -four at once, the
amount Of wheat actually in existence in
his country is the greatest on record.
This year there Is reason to look for a
materially diminished foreign demand.
while the American yield promises to be
much the greatest eve known. Euro
pean crops are known to be quite good.
The latest dispatches indicate that the
Russian yield will be about 62,4SO,OOO
bushels larger than that of last year,
while In place Of great shortage in other
countries there is prospect Of a fair aver.
age yield, at least in Austro-H Hungary,
France and Great Britain. Distant coun.
tries are also in better position to spare
something for European wants. Though
1t Is by no means certain that this coun.
try will have enough corn to help largely
toward the foreign supply, yet the wheat
crop, according to the estimates which
have been found most nearly correct in
recent years, will be more than enough to
meet even such an extraordinary demand
as that of last year, and to fully reDlcnish
stocks here and abroad.
The overlapping necessities of other
countries have drawn heavily upon the
American supply since the new crop year
began. Exports in July, flour included.
n Hs,e oon A,..e,oSi Dusnels, n about l2,'
yoo,uoo ousne's nave gohe OUT already In
A =
~. 40. uas , gee . es.lnla.ea oy statisticians
sna Ns . ano on,t Gu suites ' TINS year VIII pro-
ous 100000, ~ n Dmsneds OF WINTER wheat
bushels Of spring wheat. a total Of from
65O,OOO,OOO to 100,000.O00 bushels. the