Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1909-05-14
is THERE A WHEAT FAMINE.

is THERE A WHEAT FAMINE.
New York Evening Post: When
the trade talks of the farm supply of
wheat in Kansas or Nebraska being
fused up" the expression is relative.
The agricultural departments esti-
mate, on March /, of 143,OOO,OO0
bushels left on the country's farms
from the crop of 1908, is disputed by
the trade. The best-known private
expert estimated 125,000,O00; trade
calculations ran as low as 100000 900.
But even If the lowest estimate were
accepted, deliveries at market since
March / have already reached 25,-
100000 bushels; so that deliveries at
the same rate between now and the
July harvest time, would still leave
sufficient margin. The stock a wheat
in granary in this country is actually
some 1000, 900 bushels larger. than it
was a year ago, although :0.000,00O
bushels less than in May. l.07. Eu-
rope is worse of for supplies on hand
than we are; its storehouses now
hold 21.O00,000 bushels less than a
year ago, and 81, OOO, 900 less than two
years ago. But between now and the
harvest. it has the Argentine exports
to count on-whicn, though some
what disapp: hitting in quantity, will
probably serve the purpose--or at a
pinch, it my reckon on the habitHdl
makeshift Of Eft ,rean consumers,
the substitution of rye for wheat
flour.
In brief, then, the real problem is
not the feeding of the bread-consum-
ing world this season, but to what
extent the harvests of 1909 will recti-
fy the situation. The worlds "vis-
1ble supply in the spring-time has
been lower on other occasions than
it is today; in May, 1898, for instance,
1t got down to Ill ,223,O00 bushels, as
against 118,sO0,O0O estimated this
month; but an increase of 600,000,-
900 bushels, or ~ per cent, in the
worlds yield of wheat that summer
"a result largely brought about by
the actual needs of consuming mar
kets and by the high price offered in
the preceding season-brought con-
ditions very quickly back to normal.
The tendency, this year, will be the
same; the doubtful question neces-
sarily remains whether home and for
eign weather conditions will favor
the wheat-grower as they did eleven
years ago.
The season did not begin altogether
favorably, this year; crops even now
are not so far advanced as they
should be, here or abroad, and this
is perhaps the real explanation CT the
extraordinarily high prices asked for
wheat, even on the FIRMS 1t must
not be forgotten that a speculative
period, such IS tie present. time I'M
uuestionab!y u linn> expression not
only in high bids by professional sp1-
cuIatcrs for ;,let 'hanli:e which they
have not got. Lat in the holding-5ack
of their merchandise for still higher
prices by producers who actually
possess it. Yet other seasons have
started out with as Indifferent
promise as the present, and ended
brilliantly The next month or two
will settle the question. Until then,
it would be premature to discuss the
results of another deficient harvest,
coming ON the present singular posi-
ton Of supplies. That it would be
a calamity, no one is likely to deny;
fortunately, 1t is far less probable
calamity, with the enormous exten-
sion of area under wheat culture,
during the decade past, than it has
been at any previous time in history.
f.f