The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-08-09
son. the navy will have a new expert on
SmokelesS powder.
The Wheat Situation.


The harvesting season Is advanced
sufficiently far to justify the confidence
that once again the agricultural ele-
ment Of the country is to receive
vast return as a reward for Industrious
endeavor and patient toll Ever since
the sowing of the spring wheat in the
three states of Minnesota and North
and South Dakota, the greatest trad
ing centers of the world have been
watching the growth of the cereal, so
important has this section become in
its relations to the population of the
globe as a source of food supply.
While the situation today, in regard
to wheat, is still somewhat complex,
everything appears to be favorable to
a realization of prices for the crop
which shall be at least profitable to
the grower. There is, at present. moth
ing to indicate that values will reach
anything like those associated with the
operations of Mr. Letter during the past
season. The fact is assured that we
shall have a much larger crop to mar
ket this year than last: but, at the
same time, the worlds yield is believed
to be liberal. so far as can be learned
from those countries whose harvesting
periods are approximately simultaneous
with our own. Some doubt, however.
exists concerning Russia, whence. 1t is
limited. exports are likely to be cur
tailed. If not absolutely prohibited. at
least for a period sufficiently long to
admit reliable estimate to be made
of the needs for home consumption.
The shrinkage in the demand for eX-
port to European ports during the lat
ter part Of June and throughout July
was due to the liberality with which
those traders laid up their supplies dur
ing the earlier months Of the year,
largely at the high prices created by
Mr.. Letter during the more active
period Of his specuiations. which period,
by the way. was one Of serious uncer-
tainty on the other side of the Atlantic.
That these traders operated wisely Is
apparent from the conditions shown to
have prevailed on Aug. 1, at which date
the entire stock of wheat held in the
United States, both east and west Of
the Rocky mountains, and in Canada
as well, amounted to only a little less
than 100000 bushels, being about H.
100000 bushels less than that existing
Aug. 1, 1897. Bradstreet's figures show
that on Aug. 1 the total volume Of
wheat in Europe, or af1oat, was 44,600,-
900 bushels, being 100000 bushels more
than at the same date last year. The
same authority gives SO, $780, 900 bushels
as the amount of European and Amer
lean holdings Aug. l, 1898, as against
6f,O4O,O00 bushels the same date In 1897,
Jos, S31 900 in 1896, and lao, AT, 900 in 1896
The closeness of these holdings to the
margin of supply is apparent in the
fact that stocks diminished from 79,60O,-
900 July 1 to 59,599,0O0 or about 20,0OO,-
00G, Aug. 1. The significance of this
shrinkage will be appreciated in the
light Of the fact that the European
ard American holdings Jan. /, 1898,
were 1872, 434 900 bushels.
During July, 1897, the exports Of
wheat and flour from the United
States were 9.31S.O0O bushels, rising in
August to 1887, 600 bushels. In 1896
they were 12,20S.OO0 and 13, 29O, 900 bush
els, respectively. The heaviest exports
Of wheat in any one month occurred in
August. 1891, when they reached total
of 26,27O. 900 bushels. The next highest
volume was in September, 1897, when
they reached a total Of 26,016, 000 The
exports of wheat last July were about
100000 bushels, as against 9,31S, 1000
the same month last year, as above
stated. According to Bradstreet's fig
ures the quantity Of wheat and flour
exports from nineteen United States
and Canadian ports for the week end
ing Aug. 5 was ALL ,312 bushels and
for the same week in 1897 they were
3S0S, 477; in 1885, 1850, $50; in 1895, 1885,
562, and in 1894, 3,417, 200 bushels.
The present month is therefore start
ing forth well in the expectation Of
wheat, indicating a scarcity which the
new crop must at once supply. It is
fair to assume that the existing I'M
certainty abroad compels this large VOL
ume of exports, and prices for the i'm
mediate future will doubtless be in
fluenced largely by the degree Of
promptitude with which the grain shall
be marketed. The disposition is mani
fest in the winter wheat sections to
withhold supplies from market in the
hope Of an advance in price There
are some indications that wheat grow
ers in the Northwest will pursue the
same course, in which event higher
prices than those prevailing may be
realized