ESTIMATES VARY

New Zealand Times, Volume LII, Issue 12323, 18 December 1925, Page 8

ESTIMATES VARY

ARGGENTINE WHEAT CROP EXTENSIVE DAMAGE DONE. Australian N.Z. Cable Association (Received December 17, 8.5 p.m.) BUENOS AIRES, December 16. It is announced that Argentina’s wheat yield is estimated at 5,845,000 metric tons, in the second official forecast. Tho first estimate, on November 14th, was 6,400,000 metric tons. • » t A message from Rosario, Santa Fe Province, says the Ministry of Agriculture's report, issued on Tuesday, concerning the extent of the damage to wheat in Northern Argentina, caused surprise in Rosario grain circles, owing to the variance between the official and the private reports. The official report fixes the damage to wheat at ISLiS per cent, in the province of Cordoba, whereas provincial and private reports indicate that it will run as high as 70 per cent, in that province. The provincial agricultural bureau estimates the damage in Santa Fe at a much higher figure than that given by the Ministry of Agriculture, which was 42.5 per cent. CHICAGo"DISTURBED MISLED BY OFFICIAL REPORT. (Received December 17, 8.5 p.m.) CHICAGO, December 16. Trade advices indicating that the Argentine crop figures, published on Wednesday, are grossly misleading, led to a sharp advance on the wheat market,'which gained as much as 7J cents from the day's bottom prices. At first the market was depressed by the report, hut when general disbelief in its accuracy later became current, wild fluctuations followed. The trade is inclined to accept reefent unofficial estimates that the Argerttine’e exportable surplus will be 93 million bushels, instead of 149 millions, as suggested by r the report. Reuter’# Telegram: The announcement of the Argentine Government’s report on the wheat yield should read: "Two Argentine provinces will yiqld 45 million bushels, compared with 92 million bushels last. year.”