The daily star-mirror. (Moscow, Idaho) 1911-1939, 1921-01-06
EXPERT EXPLAINS
LOW WHEAT PRICES
REASONS SHOWN WHY PRICES
ARE NOT LIKELY TO GO
HIGHER THIS YEAR

| The pre-war importations of wheat
and rye Of western Europe we're about
650,000,000 bushels, but consumption
has been materially reduced, accord
| ing to deductions in the November
leaflet of the National City Bank of
New York City. Upon this, Mr..
Broomhall editor of the Corn Trade
News, the English authority, has re-
Gently said:
"We have on several occasions
called attention to the wonderful re-
duction in the consumption that can
be effected by the compulsory length
ening of milling and the free use of
substitutes. This has been peculiarly
illustrated by the requirements of
France. The wheat crop of the pres
ent year there is estimated at 237,-
100000 bushels and the consumptige
requirements are estimated at 344,-
100000 if milled at 70 per cent ex-
traction. If the extraction be in
creased to 80 per cent the require
ments could be reduced to 12,000,000.
A further reduction can be made by
adding 10 to 20 per cent of rye or
corn flour, bringing down the re-
quirements to 272,000,000, SO that only
tV,pOOyUUV UuSAtlS Will udFC W NC ILL
ported"
Eur0peOn Consumption Less
The Market Reporter of the bureau
of markets. Washington, in its issue
of October 23 last, calculates that con-
sumption in Europe last year was 26
per cent below the prewar require
ments. The Market Reporter on June
5, 1920, estimated the expectation sur
plus of wheat and rye in the ex-
porting countries for the crop year
1919-20 at 20,2O0OO0 tons Of wheat
and rye, or about 666, 6,733000 bushels.
Europe's production has been higher
this year than last.
Mr. Broomhall's estimate of the
wheat importation of Europe in the
crop year ending next June is $780,
100000 bushels, and of other import
ing countries 40,O00,000 bushels; in
all 560,000,000 bushels. Bradstreet's
estimates that the United States can
spare 250,000,000 bushels in the crop
year ending July 1, 1921. The Ca
madam surplus is estimated all the
way from 160,000,OOO bushels to 200,-
100000 bushels. which would give at
least 41O,0O0,000 from North America.
Australian Prospects Bright
Australia will harvest in December,
and letter to us from the we'll
known house of John Paxton & Co.,
Sydney, dated September 15 says Of
the situation there:
"Australia is this year having a
truly wonderful season. The rain
fall is far in excess of the average
Of the months during which it has
descended. The only risk now is,
that we may have too much of it dur
ing the spring months (spring in the
southern hemisphere), to the injury
Of the wheat crop, but if it now clears
up, and leaves us with a month or
six weeks of our usual bright, dry,
early summer conditions, there is
quite a probability of the wheat crop
reaching 140,000,000 bushels over all
The Australian states. Naturally, the
rainfall has assured bountiful sup
ply of feed for live stock, SO that
he pastoral industry is now in a
much more hopeful condition than it
vas IL months ago. Unfortunately,
he stock losses have been so heavy
hat there is likely to be great deal
more grass all over the country than
here will be stock to devour it."
Rollin E. Smiths "Wheatfields and
Markets of the World" gives Aus
ralia's requirements for bread and
ICED as 28,000,O00 to 10000, 900 bushels
% that with no allowance for carry
'ver from last year or to the next
ear the Paxton estimate would give
100000 bushels for export. The !
owest recent estimate upon the sur
lus we have seen is 80,000,000 bush
Is. s,
Argentine Crop Promising
The Argentine crop is also har-
ested in December and is likewise
cry promising at this time Esti- s
1ates upon the exportable surplus I
ange from 1O0000,O00 to 100000 600 I
ushels, the latest we have is 112,- {
100000. Altogether the above fig t
res, taking Canada. Argentina and G
australia at the lowest estimate, S
vould give about the same amount
f exportable surplus available for t
'urope as was imported last year "