The Miller press. [volume] (Miller, S.D.) 190?-current, 1923-08-16

would not have been possible for the
spectators to break the market as
badly had the carry-over of 100 mil
lion bushels been In the farmers
hands in farm storage houses. AS
usual wheat farmers parted with a
large part of their crop in the first
few months of the year and were
therefore in no position to keep the
market from being flooded Or the
price from being hammered down just
before the new crop was harvested
and ready for market.
The United States Department of
Agriculture estimates the present har-
vest to be S21 million bushels and we
will carry Owe from last year about
100 million bushels compared with rs
million last year. Thus we will have
to dispose of 921 million bushels this
year compared with 971 million bush
els last year and an average of SOC
million bushels during the years 1912
-21. We will consume this crop year
in the United States as food just about
5 bushels per capita or 500, 900 600
bushels; as seed we will save 100000
900 bushels; we will feed II million,
and we normally (l914-20) would car
ry over into next year about 70 mil
lion bushels. This would give us a
total of $50 million to be used in the
United States. Material increase in
domestic consumption is probably out
of the question. That means that our
domestic consumption plus a normal
carry over will be about $50 million
bushels. Thus there would be avail
able for export or other purposes 241
million bushels. Our net exports
during the last fiscal year were 200
millions, a decrease of 81 million from
the previous year. The pre-war aver
age exports were only 100 million.
Expectations are that there will be a
still further decrease Of exports this
year compared with last year-es- |
Inmates running around so millions.
at is estimated that the world
carry over on July /, 1923, was be-
tween rs and 100 million bushels more
than it was a year ago. About one
! half of the increase was in North
America and the other half in India.
India is recorded as having an ex-
portable surplus around 80 million
bushels this year whereas last year
oll Olli hu0 obouI - lllLllO1 llSttClO
The Canadian Wheat Problem
! at is early TO obtain anything like
accurate reports on the Canadian
! wheat crop, but preliminary estimates
place it much larger than that of last
year, which was around 400 million
bushels. If Canada should produce
SOC, 000, 900 bushels of wheat it would
indeed be a bumper crop for her yield
- 1901 ,a, Onn r,;IIs-, l,.I,rIa -.
1920 263 million bushels, in 1919 1913
million bushels, in 1918 1S9 million
bushels. She is primarily an export
ing country. Her 8 million people
eat a little more wheat per capita
than we do, making her domestic con-
sumption and seed requirements total
about Al million bushels, according to
the out turn of the crop. Present con- |
ditions are proportionate in Canada
and prospects bright for a breaking
crop. She has increased her acreage
tremendously since the war. Canada's
acreage in 190S-13 was only 9,945, 900
acres; wartime peak was 1920, 00G
acres, and this years is 2 ,165, 900.
Canada's wheat problem, therefore, is,
fully as acute as ours.
at is early to obtain accurate fig
ures regarding the European harvest
this year, but commercial estimates
indicate the crop including the pro-
duction in Russia will be 100 to IT'S
million bushels larger than a year
age.
ExpOrtable Surplus Too Great
! The fallisg off of our exports dur |
ing the last year was a direct reflect |
ion Of the large world c%arryover of
wheat. The prospective still further
diminution of our exports is based
both upon the large stock still in for
eign countries and the increased pro- |
ductiCn in Europe. There was a very
large increase in acreage in the five
exporting countries of the world and
since the close of the war they have
decreased their acreage slightly grow
ing some 20 million acres more than
the pre-war average. In view of thi@
situation and the prospective slow but
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