THE WHEAT POSITION

New Zealand Times, Volume XXXI, Issue 6872, 16 July 1909, Page 3

THE WHEAT POSITION

DOMINION'S VISIBLE SUPPLY. Inquiries made among Dunedin merchants show that there is a consensus of opinion that the departmental returns with regard to the export of wheat and oats, but more particularly the former, err in being too small, and it is generally considered that the figures from Christchurch approximate more nearly to the truth. To an "Otago Daily Times” reporter a Dunedin merchant was able to give further figures covering tho period up to July sth, showing that to that period 1,230,000 bushels of wheat had been cither exported or contracted for for export. Discussing the position further, it was pointed out that at October 31st, 1908, tho quantity of wheat and flour in tho country was 1,700,000 bushels. As tho consumption of tho Dominion is estimated to bo 6,000,000 bushels per annum, the four months from that period to February of this year, when the new crop was made available, can be said to have practically exhausted that supply, so that the carryover would Ire infinitesimal. The new season’s crop totalled 8,722,790 bushels, which, after providing for a home consumption of 6,000,000 bushels, left available for export 2,722,790 bushels, which surplus has been diminished by 1,230,000 bushels. It is known also that in many cases.double acreage is being sown this year by farmers, and as last year’s acreage under wheat was 252,000. an estimate for this year of from 350,000 to 400,000 acres would not be too large. To sow this area an allowance of 800,000 bushels might bo made, and this being added to the export quantity of 1,230,000 accounts for some 2,000,000 bushels of the total surplus of 2,722,000 bushels. After making a further allowance for fowl wheat, etc., it will bo seen that the margin is becoming a small one.