Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1920-12-11

acted or recent political changes ha6
anything to do with the present sit.
uation.
WHEAT FIGURES.
In a letter recently issued the Bart.
lett Frazier company Of Minneapoli,
gave out some figures on the wheat
situation which are of Interest to al
who have wheat to sell, and who are
therefore concerned in all the ele.
ments which have a bearing on the
price Of wheat. Among other things
the letter says
Let US take a look at the Euro
pean requirements for wheat this
year. Pre-war importations Of wheat
and y in western Europe we're about
650, zoe, 900 bushels. This amount
will no be NEEDED this year, as the
home crops are good, and consump-
ton has been cut down because of
the high price. Take the case of
France alone. Nominally France uses
s44,ee6,0 600 bushels of wheat. BY
AS A4CAANA 1lA41ACSS " SdC4 l1lC0
the quality of their dpur and run
more bran in with the -four; and
further by forcing the use Of 10 to
20 per cent Of y and corn -four, the
yearly. consumption Of wheat has
been reduced to 272. 60o, 600 bushels,
or 10000 0 bushels less than
normal. This for France alone. Also
another year has passed since the
armistice, in which time the Euro
pean countries have had further p
portunity to get their own farms back
into = pre-wAr state of cultivation.
Thus it is that the best European au-
thorities estimate that the importing
co1ptzfeg OF the world will need only
sec, oo0, 900 bushels as against ESQ.,
100000 bushels nominany. Our own
United States bureau OF markets esti-
mate. that last year Europe imported
only 81. oeo zoe b~uaalals, and that
this year they will increase the size
Of their crops by 454,o0o,oe0 bushels,
which would indicate that unless con-
sumption increased very much that
they would. not have to import any.
thing. Europe has already imported
Ito, 900. 900 bushels, however, and Of
course the regulations on the use OF
wheat may not be enforced as rigidly
as in past years, 70 let's take the
figure of $50, 900. coo bushels as what
they will need.
Where win this wheat come from7
The U. s. has 0.e0o, 900 bushels
more than it needs. Canada has about
8 0,oo0, 900 bushels more than ita
needs. The Argentine crop-now az
sured-is conservatively placed at
100000 0 bushels in excess of hons
needs. Australia has probably about
10000, 900 bushels more than its needs
and its crop is ALSO assured. That
gives US a total exportable surplus in
those countries Of $50, 1000 900 bushels
or 10000, 900 bushels more than the
importing countries are going to need
This is not including the crop in India
which is harvested in March. india
crop last year is estimated at $1,000.
900 bushels over home requirements
and while 50 far most OF this has beer
held awaiting the outcome Of the new
crop, any or all Of this $4,000, oOl
bushels may be thrown upon tn,
world market as well. What Russi,
will do no n knows, and we viii,
not count them in at all.
THE official statistics therefor.
seem to indicate that there is goins
to be wheat enough to go around
This of itself would seriously affec
prices, but it In not all. In attempt
ing to provide with certainty for theil
wheat needs. Great Britain last sum,
mer did an unprecedented thing. I
buys about one-half Of the wheat i'm.
ported by Europe IN an average. tt
purchases are made by . goverunen'
commission. and that commission die
last summer what no private bushes
would dare do. During Nay, Jun,
and July II made enormous pur.
chases. fearing perhaps crop short.
age. and the large advance stock
thus accumulated have carried then
with practically no further pur.
chases mp to the present time. Alst
during the latter months when thu
buIk Of our, crops are being marketed
ths large buyer has been entirely ON,
Of ths-market q that prices havs
Hacked the support that they norm.
ally would have had from thil
source. This excessive buying com