The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1913-01-01
The EUROPEAN
AND AMERICAN
WHEAT SURPL Us

Minneaolis Tribune: While wheat
supplies in the domestic market
are STILL apparently liberal. the
European situation suggests that
the surplus raised in this coun-
try will pe wanted abroad and That
a large prop3rti3,I has already been
the large Ftocks now in the east have
been placed and that the snali
Quantity remaining unsold rs at a
shipping difference.
Worlds markets have seldom neen
so adjusted as they are TINS season
TO, develop the maximum cOI1suIilptiys,
demand. Although supplies have
moved forward on an enormous scale
to meet this demand, there has been
"a relatively small accumulation in the
reserves SO that the commercial
activity may be epected to continue
right through the full crop season.
At least the grain trade has the
authority of BroomhalI, the English
statistietan, that the Visible remains
generally Inadequate, that stocks
everywfere are disappointingiy light"
North America is still the depend
able source of supply for the inn
porting countries. From so to 20 per
cent of. the export movement is go-
Ing forward from the United States
and Canada, and this is very likely
to continue for the naxt three months,
at least, until wheat begins to arrive
freely from south OF the equator The
bulk of the shipments from North
America is Canadian wheae out the
domestic surplus, east OF the Rocky
mountains, hasbeen freely drawn upon
for foreign account and from supply
and demand standpoint the remainder
surplus cannot Ne especially burden
some.
The liberal marketing OF the huge
crop of spring wheat harvested IN
the northwest has been q weighty fac
tor in the domestic market but spring
wheat is very cheap the contract
is quoted cheaper than In Winnipeg,
where the price Is wholly determined
BY the export market. With the large
domestic milling demand for spring
wheat which has been unusually lib
erai this season and the prospect that
1t Is to continue active. the movement
promises to be well taken care Of,
especially as there are seven months
OF consumption before q new crop Is
available and eight months before 1t
is available In any quantity.
That the 1912 harvest In the Unit
cd States, large as 1t was, has dis
appeared Ia q way to indicate a COM
paratively moderate carry over next
summer is now forecasted by the
Stafisticians The two preceding
small harvests, 1910 and 1911. reduc-
ed reserves IN ali positions, and the
high prices tended to minimize the
consumption, The large crop avail
able this year and the estRbl blishinent
Of prices at q level profitable TO
manufacturers, stimulated consump%
tion Of the raw material. Moreover,
the great shortage in supplies, east Of
the Mississippi river. has made q
broader market for both spring and
hard winter wheats, especially spring
Wheat
Supplies still to come forward from
the country 20 the primary markets
ore likely to check any speculative inT
flation in the wheat pit. maintaining
the market on g mere handise basis.
but wheat has, apparently. measured
tile full decline price improvement
being based on the enormous con-
sumption and the domination Of North
America ia the internati6nal wheat
market