The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1907-05-16
EUROPE is BADLY
IN NEED OF WHEAT.
SPECULATION NOT RESPONSIBLE c
FOR HIGH Prices.
CROPS ALL BELOW PAR
Germany Has for Six Weeks Been
Purchasing careoes--shortaee All
Along the Danube Is Report.
ed--Russian Situation.

London, May 15. - The European
wheat situation, according TO the gen.
orally accepted view here, resolves IT.
self into questions of supply and de-
mand. 1t ds explained that it is not
speculation alone which has brought
about the present high prices. The
situation has been strongly influenced
by buying for the demand Germany
has been purchasing Australian and
Argentine cargoes for nearly six
weeks, the shortness of stocks in that
country being caused to some extent
| by selling considerable quantities of
both rye and wheat to Russia, as last
years Russian crop suffered damage
Germany, therefore, must now get
about 100000 quarters more between
January 15 and the end of July this
year than she did during the same
period last year. This fact Is regard
ed here as mainly instrumental in
causing the squeeze, because the
River Plate shipments are required by
the United Kingdom, Germany and the
Mediterranean, especially Italy.
| Damage in All Countries.
1t is also acknowledged that con-
siderable damage has been done to the
i winter crops in Germany, Roumania,
Hungary and along the Danube, ex
tending to about 40 per cent One Bull
gaFia report says that in places it Is
| about so per cent.
From all Europe, France excepted,
the adyices are unfavorable. The
Russian crops are not only bad, but
the political uncertainty in that coun-
try is also having depressing effect
on trade. The millers have been
keeping down stock to the lowest
points possible, living from hand to
mouth, expecting drop in prices.
Cold weather in Great Britain also
to some extent helps the advance.
In the past, generally speaking,
when there has been a shortage of
wheat in the west there has been
| plenty in the east, and vice versa, but
this year both are bad, and naturally
the price goes up.
The representative of a large Rou-
manian dealer informed the Associat.
ed Press that when he left Roumania
some weeks ago the outlook was bad
and that his advices fully confirmed
the depression Gf the situation. He
further said that unless rain fell very
shortly the spring crop would be
ruined and the export of wheat would
be prohibited.
A dispatch received here from Mel.
bourne, Victoria, Tuesday evening,
said that the wheat market there was
strong and that prices had advanced
five cents.
Fear Failure to Deliver.
Hamburg, May 15.-The fear Is ex
pressed among the Hamburg grain
merchants that the south Russian
merchants may fail to make delivery
If the upward movement in the price
of wheat continues. One Hamburg
firm is mentioned as already involved
In difficulties in this connection.
Bad In Hungary.
| Budapest, May 15-The report oi
the ministry of agriculture says that
the winter has been bad for grain
Winter wheat. rye, barley and corr
suffered from the excessive frosts and
insects, and much of the land was
untitled on account of the unfavorable
spring, The existing sowings show
little development
| Are Sowing Little Grain.
Warsaw, Russian Poland, May 49,
Several Russian papers say that the
landed proprietors in the central anc
Yolga districts are sowing little grain
because they fear agrarian strikes
The same conditions prevail In thu
Don tracts.
The merchants and factors OF souti
Russia refuse to sign foreign grair
contracts, believing that the harvesti
will be inadequate to the local de
mands.