The daily star-mirror. (Moscow, Idaho) 1911-1939, 1921-01-06

This is without taking account o1
India, where We harvest is in March
The Market Reporter" in its issue
Of October 23, says that the India
crop of last March yielded surplus
over home requirements Of 75,000,00C
bushels; according to official esti-
mates ,and press dispatch states
that the government has released
100000 tons equivalent to 14,920,G 600
bushels, for export. The remainder
presumably is being held to await
new crop development, as the India
crop always is an uncertain cne.
Argentine Nearing Harvest
The annual average exports of
wheat from Argentina and Australia
in the five years ended with 1913
were 145,OOO,OOO bushels. Upon this
basis, and considering that the crop
of all the countries in che southern
hemispheres are subject TO sudden
changes from weather and pest con-
ditions, it would take close calcu-
lation to find wheat enough This
was the basis of calculations until
recently. But the promising condi-
tion of the crops in Argentina and
Australia, now nearing harvest, the
prospective release of supply from
India, and finally reduction in the
estimate of Europe's requirements
Have altered the situation and in our
opinion have been an important fac
tor in the price decline which has oc-
Cured
The article in the Market Reporter
is an exhaustive and important one,
covering the European situation and
the prospective surplus from export
ing countries. We advise all parties
who are interested enough to study
the situation to send for copy. 1t
calculates the total imports of wheat
and rye by Europe last year at only
about 44O,OOO,OO6 bushels, which is
much less than other calculations
creased production of all cereals in
Europe this year at about 100000
tons or 454,000,000 bushels, which
would seem to indicate that unless
consumption was on larger scale
Europe would not need anything from
outside. Europe, however, has al
ready imported 170,000,000 bushels in
this crop year from North America
alone. The Market Reporter says:
Only 13 Nations Considered
Sin attempting to ascertain the
probable world supply and demand
for breadstuffs the consumption of
only 13 European countries has been
considered.
However, it has been shown that
the total European consumption of
wheat and rye, for 1919 was 43,50O,-
900 tons, or 26 per cent below pre-
war average. This year Europe (13
countries) has yield of 45 100000 |
tons, compared with 33,100,000 tons
for the same countries last year. Eu-
rope will of course, use her own in
creased production this year and as
much imported grain as she can af-
ford to buy. 1t can hardly be expect
ed that imports this year will be |
larger than for 1919, and hence the !
figure 100000 tons is given as the |
tentative importation, based on 1919 /
imports"
This estimate of 100000 tons
comes to above 440,0O0,O00 bushels, !
out includes rye, of which this coun-
try exported about 40,000,000 bushels
to Europe last year.
Altogether these figures do not in
licate a shortage of wheat but rath-
sr a substantial surplus.
These are the best estimates we
IAN find upon supplies and the prob
lble needs of Europe It is certain
hat Europe will not take any more
han barely enough to cover it's neces-
stiles, and it must be remembered
hat the price of wheat is still so far
lbove normal that nobody will want
% carry over any into the next crop /
rear. Therefore, supplies will be
likely to come out quite fully and deal
RS in both wheat and flour will buy
With a view to working off stocks be-
ore July 1, 1921. 1t is to be consider
d that in calculating the future there
$ always the possibility that Russia
nay come back as an exporter.