THE WHEAT SITUATION.

Press, Volume LII, Issue 9012, 26 January 1895, Page 7

THE WHEAT SITUATION.

Very much confidence in the future of

wheat prices (says the American Trade Journal) has been inspired by the small receipts from the live stock feeding sections of tho country. The principal drawback has been and is the large stocks in store in this country, and tho extraordinary movement in the north-west, together with the largo movement from Black Sea and Danabian ports. There is a great deal of talk about the Argentine situation; but as the reports are conflicting, they have had, so far, little effect upon the markets one way or tho other. The more recent reports from there say that the crop will be some 20 to 25 per cent, smaller than last year, while others of nearly the same date claim that the yield will be as much in excess of last year. People who are familiar with various estimates in this country have no occasion to be surprised with the variable estimates from Argentine. Detailed information indicates that in some provinces there will be a good yield from a very large acreage, while in other provinces the yield will be light. If the total does not run above the total of a year ago, the prospect* are that the wants of the world will ,absorb it without creating such surprise ft its immensity and lack of confidence as was experienced in the movement of the last crop. Prices in this country wonld be several cents bettor now with ordinary ocean freights, but with the rates prevailing, as compared with previous ones, they seem to be almost prohibitive, and our markets are relatively much cheaper than recently, as compared with foreign markets, on account of it. It appears that the large Russian and Danubian shipments will soon be lessened very much by cold weather, and it may be that when the tonnage used in wheat carrying from that quarter is turned to American ports there will be a material reduction in our ocean freights, thereby increasing prices in this country, through larger movement, even without farther advance abroad. The Argentine bar vet t begins in November and ends in January, so that wheat will soon be offering in the northern portions for Janu-ary-February shipment. With these offerings as liberal as expected, the effect of them would offset the effect of the smaller shipments then from Russia. It is evident that targe advances are not to be expected until the outcome of the crop in this country is known, so far as it is to Dβ affected by animal feeding that 'till continue* to be quite important.