The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1915-02-05
Wheat Highest
Since Civil War
Those Who Held Wheat For the
SLIGO Market Will Soon Be
Able to Sell

e'osSe
Able to- Sell
Minneapolis Tribune: The
wheat market has reached per-
iod Of time and a price level
which in some degree may be
said to modify the abnormal
worldwide conditions tha. have
prevailed since last August. Cons
dition. are still abnormal and
are not likely to change ma
terially ut present, but the
world is not so far away from
new harvests that another month
or two will not make them an
important influence and the es-
tablishment of "war" prices
means that quotations are, in
a way, discounting conditions.
1t is now quite obvious that
the international supply and
demand position of wheat was
made very acute by the war, and
| is still acute and will continue
acute until q normal situation
was not so obvious last August,
although it was clearly enough,
indicated by the worlds statistl
les. But one had to look ahead
then and one has to look ahead
now. 1t is now much more haz-
ardous to say that wheat will
sell higher than it was to pre-
dict four, five or six months
ago that it would. Fundamental
conditions have, not changed, but
prices are beginning, at least.
to measure much more. fully the
strength of the worlds wheat
position. I
/ If We take. the factors that
dominated the market the last
six months it will be seen that
they brought about an nnpre-
cedented situation. Notwith-
standing the low prices wheat
was selling at in the domestic
market before, the war, the mar
ket was beginning to recover
from it's extreme depression In
the discovery that importing
countries would need larger re.
quirements for the season than
ordinary owing to moderate ma
tive production and the short
ages in India, Argentina, Can
ada, and parts Of the Danubian
territory which enlarged the de-
mand for our surplus. Then came
the war with the elimination Of
Russia as an exporter, the AUS
tralian crop failure, and the
concentration of the world IS de,
snand on the American market.
1t is probable that such a
combination of bullish factors
will arise again? Can 1915 have
so bullish a foundation for high
prices as 1914? There are in.
sufficient data at hand to meet
these questions intelligently. Ar
gentina's s crop outcome we know !;
production has been liberal, but
it would be snap judgment to
put that down as an influence
against price maintenance be-
cause Australia elimination
from the export column is an
offsetting factor. We must wait,
for further information cover1
ing crop prospects in the North,
ern Hemisphere and develop
ments in Europe.
But the old crop position is
not changed. There is nothing
tangible at present that sug-
gests any change. The United
States is cutting down its avail
able, supplies freely. The cour7
try cannot go on exporti1 :
wheat in the volume it has t.. !,
last seven months because t
hasn't got it. If the trade >
innate Of January export. -
approximately CORRECTLY, ,O0Utb
bushels-we are stall shipI.. ];
at the high average Of the pr
Nious six months. This meals
exhaustion of supplies. We arr
approaching that point steadily
and to date, uninterruptededl.
Prices are reflecting it, and as
We approach nearer the point Of
exhaustion prices will undoubt-
edly go higher. Present tend
encies in wheat must be greatly
modified to check further ap-.
probation, but current quota
tons must be considered as
closely adjusted now to actual
conditions.
j. A. Perley, the county SUR
neyor who succeeded Sam Fair
nan, returned to his home at
9.,n. neko.. -,noo<s.nc xns%1, <hn