The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1904-07-22
The Crop Situation

All eyes are turned toward the north
west. They are gazing at the wheat
fields, and until the harvest is well under
way will the present tension become re-
Taxed. Experts say that should nothing
happen to the grain within the next two
weeks, the northwest will gather one of
the largest crops in its history. In this
immediate locality crops never looked
better But the situation can be changed
in the twinkling of an eye. Millions of
bushels of wheat could be destroyed
within a very brief space of time should
the elements run riot. The worlds wheat
supply would be cut down, and the loss
to the farmers could hardly be esti-
mated. The northwest must supply
the worlds breadbasket.
Special dispatches from board of trade
experts and agents sent out to go over
the ground in person and by agents on
behalf of the railroads show that the
damage in the southwest or winter wheat
country is fairly well understood. Kan.
sas, at the very best, will probably not
produce more than forty per cent of a
normal crop. The loss in Nebraska will
be heavy, perhaps thirty per cent is a
fair estimate. Northern Missouri and
portions of Iowa will show almost to-
tai loss. Rust, bugs and blight are do
ing some damage in Illinois, Indiana and
Ohio. But in all these states the dam
age has been carefully estimated and
discounted in making up the probable
supply. Everything now hinges upon the
northwest, and few days will decide it.
Wheat is now in the milk state and i'm
mense damage could be done in day
of hot winds or night of frost.
The situation is most intense. Not
alone is the United States lying awake
of nights, but Europe and Argentine are
showing anxiety. Three weeks ago ship
ments from this country practically
ceased. Foreign consumers, who take an
average of 100000 bushels week of
American wheat, found nothing in the
market. Their buyers are now arriving
here to see about this state of affairs.
It is possible, but hardly probable, that
the entire spring wheat area will escape
all loss and maintain its present almost
perfect condition until harvest. The first
sign of material loss to the spring wheat
crop would act on the markets of the
world like touching match to the dry
grass of the prairies. One serious as
pect is the almost total absence of re.
serve stocks of cash wheat. The coun
try is barren of reserves. Without this
restraining element there is no telling
how high prices might soar before beins
checked and forced back to Legitimate
level. The trade will have to look a
least two ways for its most vital in
for any probable crop damage and to th'
southwest for the appearance of new
crop marketings. Meanwhile it will re
quire remarkably even and norma
state of affairs TO prevent the foreigl
markets showing undue anxiety.
1t is fast being demonstrated that tn
effect of the recent excessive rains a
harvest time in the southwest and ives
is far-reaching. 1t has made foreigner
little anxious about their future sup
plies. 1t has started millers everywher
replenishing in small way of the oil
wheat, and more material than eithe
from the immediate price making stand
point, it has created an extremely bull
ish feeling among the wheat grower
themselves and has led them to han,
on to the new grain. This latter featur
turned what might have been ba,
defeat into signal victory for the hold
ers of July deliveries and has material.
aided the sales of cash wheat every
where.