The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1899-10-21
PRICE OF WHEAT
BOUND TO BOOM
Ha
The Farmers Who Held Their Grain
Have Every Promise Of Hand
some Results.
HEAVY SHORTAGE APPARENT
When the Supply Becomes Restricted
the Rise Begins With No Telling
What Price May Be Reached.

Tho bulls In wheat are encouraged
by bradstreets latest announcement,
TO the effect that crop returns for
October bear out the early impressions
OF shortened yields OF most Of the
ltadlhg agricultural products. Expcc-
tation OF moc moderate yields OF
leading cereals IL not confined 90 this
country. Tho worlds wheat crop VIII
admittedly be smaller. ana rye. barley
and oats yields are not expected TO be
80 larEr as "A year ago, The higher
range of prices Of all staples, and
particularly of agricultural products
Will. however. furnish n profitable bal
anoe 10 producers.
That should surely encourage the
farmer TO hold his wheat for an ad i
vance, while the ngures showing the
actual production, exports. require
mcnts and shortage should bc sufficient
! 10 convince the most skeptioal that the
/ exercise OF a reasonable amount of pa
tlcncc IN certain Of reward
For Instance. since the first ot July
America has supplied Europe with
over sixty million bushels of wheat.
an average OF ovcr four million bush
cls per week. and about slxty.Avc
per cent Of all the wheat imported by
Europe, According. then. to the mos,
reliable estimates. Americas rroduc-
tlon this year. including the carry.
over stock. will not exceed COO, 900. 900
bushels. including an estimate OF is.-
OOO,oOV bushels from California, which
Is admittedly 2O.OOO,OOO higher than 4
should be. or this six hundred mil
lion America requires for home con-
sumption and Bcod. according TO the
ngurrs Of other Year,. i25. 900. 900 bush.
els, while she must have at the lowest
calculation a carry stock OF TO-
OoO,OJo bushels. making the home re-
quitcment 5OOOOO,OOO bushels. and leav-
ms for expor, an even 100, 200. 900 bush
els
Hut In order TO meet the most san.
guine Of the bears let the quantity for
export b. placed at i50.OOO.O 900 bushels.
OF this balance, then. as previously
stated. slx,y-one millions have al
ready gone to Europe. leaving SO,OO0,-
elO bushels still available OF which
o. .O00. .N0O Is In California. IL will b.
sccn very clearly from these fgures
that we should continue shipping as
In the past rom four TO five million
u week. Europe will have all We can
give her by the first OF Janu-
uary. Where viii her wheat supply
come from after that7 There is no
cvading an argdment based upon Ag-
ures rs generous as these, which are
produced simply to show the farmer
why the Astorian is 50 optimistic ON
the wheat question.
Hold fast." then. should be the
and higher prices will
come. The very fact that the foreign
demand has been 80 strong and that
Europe has taken every ounce OF
American wheat she could get shows
he splendldly healthy condition OF
he foreign markets. Last year Europe
iseG 900 bushels OF wheat, and
II this quantity the United States con-
ributed 225,OOO, 700 bushels, so per cent
4 the whole requirement The reason
Why they have taken this year nearly
5 per cent is because the other wheat
producing nations are short and can
lot keep up the average OF past years,
which, OF course, makes the situation
hat much worse, It is purely ques-
Ion OF supply and demand,
When the supply becomes restricted
he boom will commence, and there is
10 telling what price may be reached. I
/ remains solely with the farmer.
The needtul will be in his hands. and 7
lie alone will have the right to say at !
What price II shall sell.