The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-01-02
REMARKABLE YEAR
IN The GRAIN TRADE
Upswing Of Prices in Face Of
Exceptional Supplies
Salient Feature.
FARMERS on FIRM BASIS

Another remarkable year has elaps' 4
H. the wheat trade and salient IN the
~rcckon!ngs has been the upswing ..
values in face of exceptionally generous
wheat supplies. The United states alone
had more thar a billion bushels of wheat
against the phenomenal previous record
Of sol. 900 600 bushels in the preceding
year and the third record crop OF ,63.-
OOO. 900 bushels In 1912. Canada and
Australia also had crops unsurpassed rs
TO quantity.
The war In Europe has mad" fnr
cross currents In the various markets.
cut obviously the net result of he on
tinuing struggle mas been 10 enhance
wheat values. Farmers on this coat
rent were Encouraged 4" giant Yas'
areas while The rln,s or ne groNe's
abroad were again sadiy depleted by the
calls to arms Ani th' foreign nations
have been cage" buyers Of ';ncvi, VET
not without regard to the levels or val
ues. They ave no. seat paniyN" repr,-
sen;al!Vcs to tie United states 30 a.
cumulatc grain supplies, ,s mas Tho CPS.
Jus, after the outbreak OF the va
Hut the foreign buying OF wh''t alcU .
does no, explain tho stI!kini re1Ound -
whca, values thai has occurred froti
the 40 CEN basis established durinl the
early summer when crop optimism n
this country was at Is hciknt ana tu'
International financial situation was
paialyzed by the chaotic condition ~
the foreign exchange marke,. Nh,Ch PEI
m!tted of wheat export business only
under the most hazardous circumstlnc =
for a period OF nan days.
l. has gradually daWned on thc wheat
trade that the American Vhea farmer
ia mn "a .n,id nEiY1 hrgis nuItIN ia-
cause OF unexpected! large returns
from his crop of the previous year. Whe.,
cash wheat at Chicago held At CLOS. t
$40 for , time. rendering possible ,
farm movement SO distributed and rel1-
lively slow hat the welSht OF the enor-
nous crops grown has moi been placed
on the market.
As a matter Of fac the farm move
ment to date only slightly cNccls that
of n year ago, although the crop h. saii
to be about 10000. 900 bushel larger.
Cnquestionably the market has a'Fo
been strengthened infinitely by the ur-
gent buying at times by the American
milling interests. VINO found their wheat
bins practically bare las, summer be-
cause of the drain on supplies during
the l9li-l5 year and the disastrous har-
Nesting weather in the winter wheat belt
during the late summer and early fall.
lneft was II series OF lower uNf'
various Of the winter wheat states for
many weeks. with the resul; that some
authorities place the amount Of Inmer-
charitable wheat in the crop this seasou
n; close to $50. 900 900 bushels. Some
" his low grade whea, has been eA-
ported. more will he exported. consider
able additional quantities will be miXed
with high grade wheat and ground. and
much nf the rest will he used for feed
on farms.
However, With 100. 900, 600 bushels de-
Quoted from The yield Of Cos 900, 600
bushels and the spring wheat ou.turr
Of 3J,. zoe. 600 bushels. together with the
C%tngdian crop Of go. O0o. 900 bushels.
agains, tho production ~ only 6u.ooC =
400 bushels. last year. Norm America
has Il theoretical r;vprtable surplus %:
close to 800, 600 400 bushels. whici,
might he hrouph; uowu moderately ia
the event OF low prices At the end 81 Tho
season. inspiring romc miles and
Others to build up their reserve.
OF this surplus abou, 3o0.oor.ooO bush
els are domestic aad about 700, 600 .0C0
bushels Canadian. Tire export thus Ear