Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1914-08-14

amount. This emphasizes the
fluctuation in the export movement
OF corn. The imports of corn in
1912 do not show 80 wide varia-
ticn, but the discrepancy between
the two may be easily accounted for.
If exporting countries shipped nearly
200 millions of bushels of corn more
in 1912 than the previous year, may
not the demand of importing coun-
tries be even greater during the en-
suing l 5 months, especially IL the
European war should create an alb
normal demand?
Shipments Of wheat from the en-.
porting countries in 1912 were GbouI
the same as in 1911, being a trifle
over 600 million bushels, compared
to 642 millions IN 1910. To this
should be added the exports of
wheat In the form of flour, making
the total exports OF wheat and flour
726 millions of bushels In 1912, com-
pared to 720 and 748 In the two
previous years respectively.
Eastern Europe, including Russia,
always drawn upon heavily to make
up annual deficiency in the consum-
ing markets of western Europe, this
year shows a pronounced shortage;
and this should mean a continuously
good demand for the domestic crop.
Already our export trade in bread
stuffs has taken on new life, and
shipm ents of wheat and flour the
past few weeks have been notably
large.
European buying markets are just
now especially watching the United
States, Canada and Russia. Our own
winter wheat record-breaking crop Is
assured, as already known to North
west Farmstead readers. In spring
wheat territory, as noted elsewhere
wheat territory, rust may re-
duce the earlier generous estimate in
the Northwest; yet crops here should
prove as large in volume as In 1913.
In western Canada there is some
uueasiness over rust and other dam
age possibilities; preliminary estl-
mates of 200 millions have been
sharply reduced to 1870 millions, this
of course subject to later revision.
Te crop in Argentina to be harvest
ed next December and January and
come on the market in the spring of
1915 has shown an unfavorable
start.
Should the spread of the war in
Eastern Europe develop seriously, it
would quite likely mean a shutting
down of exports from Russia This
would at once throw the buying
power to the United States and Can
ada during the next six months, rath-
er than to another country, especial
ly as practically all authorities now
agree that the harvest outturn in
Europe will be we'll below last years
Elg figures. The outlook In a dozen
Ct the wheat growing countries othe"
than the United States is for q yield
$50 to $50 millions less than in 1918.
Therefore the United States is tee
producer from which most OF the
worlds shortage must be made up.
All of this means, in brief, that this
CT untry, For the present at least,
hold" the key to wheat supplies aud
prices
After :he first upward rush in
prices, particularly with expressed
hope of warding off a general con-
flict in Europe, values gave way to
some extent, Yet there was heavy
trading in September wheat at Chi
cago around 88 to 95 cents bushel,
and in Minneapolis at a relatively
high level. December wheat at Chi
cago sold around the dollar point,
thence receding; May wheat touched
$1.03 before reaction.
Some of the big dealers with for
eign affiliations, evidently In the
hope of more pacific conditions, sold
wheat heavily, and the market nat
urally has pursued a very erratic
course.
Other cereals sympathized some
what with wheat, showing substan-
tial gains, not fully maintained.
Corn received some support through
advices of dry, hot weather at
time when the plant is in a sensitive
condition, September at Chicago SELL
ing up to IL cents bushel, and De-
cember (new crop delivery better
than 81 cents. Oats sold around SO
to 80 cents..-Northwes Farnnstaad