The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-19
Foreign Demand for Wheat.


| last an expert in wheat statistics fur
| nishes, in a comprehensive, compact
and lucid way, some interesting figures
and deductions on the subject of the
! crops of the importing countries O.
| Europe and their requirements during
| the crop year of 1898. The figures OF
! the volume imported in the crop years
| of 1867 and 1878 by these countries
are, of course, available and presum-
| ably accurate. The estimates of the
crop of 1898 are these compiled by tbs
Liverpool Com Trade News. The coun-
tries classified in the list Of wheat i'm
porters, In this connection. are France
Italy, Germany, Spain, Portugal, the
/ United Kingdom, Greece, Belgium, Hol-
| land, Switzerland, Sweden, Denmark
| and Norway. The following are the
total crops, in bushels, that Of 1898 be-
ing estimated:
1889 1S97-98 1867.
Totals 7S6, 900 SAC 100. 900 762 $50. 0OC
The apparent consumption in those
countries was, in 1S96-97, 1,107, 716. 00C
bushels, and in 1S97-9S, 1854, 000, 00C
bushels. In the first mentioned year
there were imported into the same
countries 3S7 1885, 900 bushels, which
with the recorded decrease in port
stocks. Aug. l, 1896, to Aug. 1, 1897, viz,
1000 900, and the volume of the crops
as given above, viz, 762. $50. 600 bushels,
gives the amount consumed, as stated
above, 1,107, 600 bushels.
In 1898 the apparent consumption
was ] eS4,000000. This decrease from
the quantity consumed in 1867 is at
tributed to the higher prices prevailing
and amounts to approximately 35,000,-
coo bushels, whereas there should, I'M
der normal conditions, have been all
increase of about 1 per cent This
volume of consumption was made up Of
the crop for the year, viz, 646 1O0, 900
bushels; the reduction in farmers and
millers' reserves during the year, 25,
100000 bushels, and an imported vol
ulne of 413,OOOO0O bushels, or a total
of l ,084 000, 900 bushels.
With the lower prices prevailing, the
correspondent insists that, inasmuch as
statistics show the normal increase in
cOnsumptive demand is 1 per cent per
annum, this increase in 1889 will be
developed to the extent of 2 per cent
over the demand in 1861. He there
fore figures that the requirements Of
the countries named will amount to
1,130, 100000 bushels. He disregards all
port stocks Aug. l, 1898, because they
were confessedly too inferior for con-
sideration. On the other hand, he holds
that from the crop of 1898 there must
be allowed a sufficient quantity to ena-
bic farmers and millers to bring their
70
1887, and to this service he allots 25,-
100000 bushels, making a total volume
required during the crop year 1S98-99
Of 1.155, 100000 bushels. To meet this
the countries mentioned have their es-
timat5d crop of 1888 Of 1876, 900, 900 bush
els, leaving the amount of wheat and
-four to be imported 500, 900 bushels,
To meet this, these countries may
possibly be able to draw from Russia,
ROumania, Bulgaria, Roumelia and
Turkey in Europe anywhere between
100000, 900 bushels and, on the basis of
the highest estimate, 172, 1000, 900 bushels.
This will leave approximately 200, O00,-
900 bushels to be drawn from other
sources.
The wheat crop of the United States
is believed to be 1000, 900 bushels mora
in 1898 than in 1897, while there is an
excess of about 100000 bushels in
Canada this year over last. Thera
were exported from the United States
and Canada during the year ending
June 80, 1898, about 234,000000 bushels.
of which something like 40, 100000 BUSH
els passed to other than European
countries, and it is believed that an
amount equal to that last named will
follow a similar course in 1928. It is
argued that on the present basis Of
! calculation there will be available for
European export from North America
900 bushels. and after making
liberal deductions in every direction
that the available export supply to ev,
cry point will be 250,000,0 900.
1t is held, however that the import
ing countries Of Europe are likely to
receive from North Africa, Chile and
Asia exclusive of India) in the neigh
borhood Of 20,000,000 bushels. Thus,
from the sources above mentioned, the
supply for Europe may be secured.
without regard to Argentine, Australia
or India, where, under favorable
isD, the estimate is that the sur
plus will be from 00,000,0 900 to $780,
100000 bushels. The average week
ly requirements of the European
countries named are fixed at about
100000 bushels, but the prediction IS
made that owing to small reserves
there the average weekly shipments
will be 100000 bushels, and that
when port and mtllers' stocks are
built UP the premium for spot wheat
will likely disappear"
There does not seem to be anything
in these figures calculated to encour-
age any one in the belief that high
prices for the current crop are likely
to accrue. Much, however, will depend
upon the readiness with which the
wheat is sent to market. Marketing
| thus far in the Northwest has been
| reasonably free. If this condition shah
continue, even granting that the ex-
| port demand shall attain the high
| figures indicated above, little improve
ment in prices may be expected.
Our Peace Commission.
The reports which come from Paris
| concerning the progress that is being
made there in the completion of a peace
treaty between Spain and this country
| are not so encouraging as the people
might reasonably hope for. The same
policy Of discussion and inactiOn which