Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1915-09-24
EUROPEAN GRAIN SITUATION

.,oather has kept fine and favorable
.ho harvest. and this morning in
Iiverpool we have again bright sun
chine. with a drying wind says
coorea Broomhalls Corn Trade
Nows Reports from the harvest
t,alds are varied to some extent put
~ the whole. they can be classed as
fairly good, and the samples we are
now receiving show mostly satlsfact-
orv orality and condition. 1t goes
without saying that these samples
,ra from the later harvested crops,
.ho carly crops having suffered a
oood daaI from the wet weather. In
a speech delivered last week, Lord
calhorne said that there are now
sOO 900 acres more under wheat in
this country than in 1913, and this
indicates a total area of 1920, 900
acres. which, at 81 bushels per acre,
gives a crop of 100000 quarters,
compared with 100000 last year,
and we notice that the international
agricultural bureau even puts our
crop as high as $4,000 quarters,
and we presume this estimate was
obtained from our ministry of agri-
culture. If the present crop turns
out to be 100000 quarters it will
be the biggest raised in this c0un-
try since 1898, and if it totals as
much as 100000 quarters it will
beat all records since 1890. The in
creasing offers of new wheat on in
terror markets have been accompan-
led by sharp fall in prices, which
during the last week have ranged be
tween AZ shillings and II shillings
per 504 pounds. We reckon the
present average to be II shillings six
pence per $50 pounds, which com
pares with sc shillings five pence
year ago. The present prices look
moderate indeed when compared
with those which We're current at the
top of the advance in April and May
last, when So shillings to &c shillings
per 504 pounds was generally re-
ported, whilst our records show at
least one transaction at 68 shillings.
and we heard that even 70 shillings
was paid in one instance.
Again we have to report another
week Of declining prices, the course
of the market being along much the
same lines as those portrayed in our
last weekly review. Two phases Of
the market conspicuous by their dis
similarity still confront the dealer in
wheat. present scarcity and dear
ness on the one hand, and prospect
I've abundance and cheapness on the
other. For the past week or two the
market has been in this position, and
1t seems as if it would have to remain
SO for some time longer. Reserves
are now very much reduced: bakers.
mlllers and dealers, with very few
exceptions must be at the end of
tnelr stocks. The port stocks in
first hands may still be described as
1alrly liberal, but seeing how light
are the stocks in other departments
OF the trade the first hand stocks are
none too heavy considering that the
nation is in the midst of great war.
Inc quantity on passage has rarely
Deen as small as it is at the present
tilne, indeed we should have to go
pack for 10 years before we found
"a smaller floating supply. Recent
shipments to the United Kingdom
nave been light also, so that the
Quantities due to arrive in the i'm
mediate future can not be heavy. AS
consequence of the present relative
scarcity and in view of the lightness
VI the prospective supplies of the
near future, the price for all avail
aDie good class wheat is kept at a
high level, especially for old crop
"neat' which it is believed Will have
special value during the future for
the purpose of mixing with the new
wheat OF the present harvest, which
mas been gathered, in many in
S'ances, in more or less humid
STATE both in the states and parts of
canada and in the United Kingdom.
On the other hand, we have
promise of abundance for the more
Instant future. The United States is
reported to have harvested another
ols crop-in the winter wheat re-
eloh OF greatly inferior quality to
iast seasons and perhaps less in
quantity, but in the spring wheat re-
SION greatly superior to last seasons |
po'h as regards quality and quantity.
ms great grower shipped last sea-
sun S6,5OO,0O0 quarters .almost en-
.'iFeiy from the winter wheat region