Evening star., 1938-07-17

production was, for each of those five
| years, 759,00o,000. S41, ,000, 900, 668, ,000,.
900, 1872 900 900 and BITS ,000, 900 bushels
scarcely within 1oo,ooo,ooo of this years
estimates. In the period from 1928 to
1896 exports averaged only es,0o0, ,00o For
the past year they are estimated at 95,-
100000
| Export Markets Sought.
I'VE must find broader exports markets" :"
H. H. Tolley. A. A. A. chief, said when
the crop report came out. The President
three weeks ago set Secretary Wallace and
Secretary Hull to studying means of i'm
proving our international wheat outlet
| Wallace now is toying with the idea
| OF suosidizing wheat exports. But the
quest for foreign buyers is difficult Wheat
| production abroad is above last years
| crops. The Bureau of Agricultural
Economics estimates the 1888 world wheat
| output at between 4025, ,000, 900 and 4.O75,-
100000 bushels. The figure in 1887 was
| 1927, ,00o. .O00
The latest word from Hungary, in the
| rich Danube Basin grain belt, indicates
that her 1888 wheat production will be
| 85,722,000 bushels, compared with 72,15s,-
900 year ago. A general increase of
| per cent over 1887 Is looked for in the
whole Danube Basin. Morocco, in North
Africa, expects to harvest 26,05l 900 BUSH
els, against 20,8s5,o year age. Algeria
looks for good harvest. tUt production
| in Tunisia is expected to fall OF.
For the Soviet Union" the Agriculture
| Department reports, generally good pros
poets are indicated. :. The May estimate
of the 1888 crop in India is placed at 3s2,-
100000 bushels. compared with the final
estimate of 367ooo,ooo bushels harvested
| last year. =. In Spite of 10 per cent
reduction in acreage. China is expected to
| harvest a crop about equal to the small
harvest of 1887 estimated at $40, 900 900
bushels :. The Wheat crop of Japan,
estimated at about 50o0o,o00 bushels, is
only slightly below the record crop har-
vested in 1887.
Argentine's Prospects Good.
weather conditions in Argentina have
been favorable for seeding, and the soil
condition has been conducive to good
termination. A larger acreage than last
year is expected" Argentina, on the
worlds bottom side. seeds about the same
time We harvest. In Australia the Gov
eminent estimates that acreage will not
be decreased from that Of last year, but
private estimates still forecast a moderate
decrease"
The world carry-over apparently is
about 650000,000 bushels, compared with
556,000,000 bushels last year. The one
bright spot, from the exporters standpoint,
is Western Europe, where unfavorable
spring weather injured the crop in Eng
land, Italy and France and where reduce
tion in seedlings was noted in Spain and
the Scandinavian countries.
As result of this decline in Western
European production, the import demands
of those countries may be this year 50,-
100000 bushels greater than last year, or
500000,000 bushels altogether. But the
Agriculture Department. in its most recent
bulletin on THE Wheat Situation" de-
clares:
With prospective production in Canada
and Argentina more nearly normal COM
pared with the very small crops last year,
it Is expected that exports from the
United States will meet greater compe-
tition in 1938-39 than in the season ending
June, 1898. This year, about 95,000,o0
bushels have been exported from this
country. Production in Canada and Ar
gentina may easily be $4,000, 900 bushels
larger than in the past year. which would
be sufficient to take care of the most op-
timistic estimated increase in world i'm
port requirements"
Up-and Down History.
When the United States produced It's
record wheat crop Of more than l000,-
100000 bushels in 1915, the World
War was being fought and international
markets were broader than they are today.
The years since then have been an up
and-down story. When Mr. Roosevelt was
inaugurated, the country had q wheat sur
pjlus of $4,000, 900 bushels, huge amount
which may be surpassed this year. Drought
In 1884 and 1885 cut down supplies. A
good year in 1887 replenished stocks, and
farmers averaged $1239 bushel for wheat
on June Is that year. The average market
price the same day in 1888 was 81, and
going down.
The administration is hopeful for the
early completion of the British trade
agreement. The United Kingdom is a
wheat buyer. Before the Ottawa agree
ments of 1882 went into effect, establish
ing preferential status for goods produced
within the British Commonwealth of Ma
tions wheat was duty free in England. The
Ottawa agreement burdened it with duty
Of 2 shillings for every eight bushels Wheat
from Commonwealth wheat-producing
points like Australia and Canada moves
frAA intn Ey,rlanA .Z