The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1922-11-23
WHEAT PRICES
SHOULD Be HIGHER

Gg EEJ
vi Wheat prices should be very much
higher now if world conditions were
allowed to govern the market, accord
ing to a review of crop and trade con-
dition by the statistical department of
the Northwest Wheat Growers assoc
ciated BY decreased visible supply, IN
creased home consumption and big
European demands, it is claimed that
the present slow rise in price of wheat
is not a flash i'm the par but amply
supported by existing conditions. The
report says in part: .,ss ..t
Heavy Receipts u
Primary receipts last week exceed
ed the receipts for the corresponding
week last year by over two million
bushels. In spite Of that, the visible
supply decreased again, this time over
a million bushels. This season began
with visible supply off 1 million bush
els, and now stands at 80 millions,
gain of only Ia millions. The previous
season, in the similar period the gain
was 4S millions. When it is remem-
bered that the exports so far are about
SO million less than last year, the in
tensity of the domestic absorption be-
comes clear. Reports from all points
testify to continued excellent milling
demand. The South, made happy with
high price cotton is buying wheat
flour, whereas last year it was diff
cult to sell this commodity here.
According to estimates compiled by
the department of agriculture, the
farmers this year have sold up to Oc-
tober l, SOL percent Of the crop COM
pared with 81 and Ali percent for the
periods last year and in
1920 respectively. The figure however
does not indicate the actual attitude
of the farmer. Numerous reports to
the Associated from all the wheat
states, state that the car shortage has
prevented wholesale selling of wheat
by farmers. This explains the contin-
ued heavy movement to terminals, as
the car situation improves. In the Pa
cific northwest the farmers have
sold fully rs percent of their wheat
by November /. tf
Visible Supply Lower ~.
with the indicated domestic con-
sumption larger than last year, the
amount available for export this year
becomes matter of importance. Last
year exports were 2s3 million bushels
out of crop of 1876 millions. Assurn-
ing a carryover similar to that from
the last crop, this years yield of $40
millions should give a surplus OF 27S
million bushels. However there is am
pie proof that last years crop was
underestimated by about 65 million
bushels. -
At any rate the distribution showed
that about this much had been lost
sight of. with the pregaass rate OF
consumption continued for the season,
the United States win require $40
million bushels for food alone. When
seed and food requirements are add
ed, the amount left for export is only
100 million bushels. -,
Prices F. 81
"The recent rise in prices was Ger
tainly not a flash in the per-, being
amply supported by advancing flour
advancing foreign markets,
strong domestic and foreign demand,
supported by better industrial condi-
tions here and abroad. All reactions
have petered out at about 115 for
December. Cash markets however are
even stronger than futures, especially
at seaboard points. An eastern statis-
tician estimates that the importing
countries really need not less than 919
million bushels of imported wheat. Be
sides this the Associated estimate OF
7s0 millions, is decidedly conservative.
Of course this amount is out OF the
question so far as supply is concerned.
Sould the combined crops of the South
ern hemisphere turn out only average,
as now seems likely, the International
wheat situation will be still stronger.