AUSTRALIAN WHEAT

Dominion, Volume 10, Issue 3118, 23 June 1917, Page 3

AUSTRALIAN WHEAT

THE 1916-17 CROP

ESTIMATE EXCEEDED Melbourne, Juno 9. A further review by the. Australian Wheat Board of figures relating to the 191G-17 wheat shows that the harvest lias consTSeriCSy exceeded anticipations. The first estimate that t% pool would not exceed 1111,000,000 bushels was later increased to a limit of 120,000,000 bushels, but now that deliveries have been practically completed, it is apparent that the total quantity will bo 135,000,000 bushels. This will be contributed by the wheat-growing States in the following proportions:—Victoria, 50,000,000 bushels; New South Wales, 81,500,000 bushels; South Australia, -10,000,000 bushels; Western Australia, 13,500,000 bushels. Later returns indicate that the quantity of old wheat still held by millers and shippers amounts to 37,017,000 bushels, which, when added to the 135,000,000 bushels represented by tho new crop, gives a total of 172,017,000 bushels. From this, however, has to be deducted G/181,000 bushels, representing the portion of the new crop which has been delivered or shipped, leaving to be shipped or delivered 165,560,000 bushels. From this quantity a deduction of 17,766,000 bushels has to bo matlo for local consumption to the end of the present year, and 104,700,000 bushels sold overseas, including the Imperial Government's wheat and flour purchased, but not yet shipped, leaving the quantity of wheat unsold in tho pool as 43,100,000 bushels. From this again has to be deducted the estimated sales for the year to Callao, Africa, America, Nonvay, and tho East, amounting to about 5,J50,000 bushels. The estimated maximum quantity of wheat which will remain in the hands of the pool unsold at the end of tho year is therefore 37,650,000 bushels. With a pool of 135,000,000 bushels this would be equivalent to practically threequarters being disposed of by the end ot the present year, in addition to any of magnitude that may bo made. For the information of growers it is added that no sales of 191G-17 wheat have been made at a rate lower than ; ls. Sd. per bushel, while on the other hand sufficient sales have been made at a higher figure to add a halfpenny per bushel to the value of the whole crop. If italisation at the same Tate continues, it should result in a net f.o.b. return which will compare quite favourably .with the return for 1915-16. The Wheat Pool. ' Out of 53,80-1,000 bags of wheat received into the 1915-16 pool, 26,683,000, including 0,006,000 from Victoria, hud been shipped up to Juno 4. Tho quantities sold locally totalled 15,129,000 bags, ineluding 4,607,000 from Victoria; the stocks held by shippers. 10,927,000, including 5 560,000 from Victoria; and tho stocks held by millers, 1,005,000, including 230,000 from Victoria. The position of the 1916-17 pool for Victoria, Now South Wales and tho four wheat-growinc States (as a total) was as follows:— N.S.W. Vic. Total Bags. Bags. Bags. Wheat shipped .. - 37.000 246,000 Wheat sold locally 408,000 913,000 1,911,000 BhimW'iißent'if 9,768,000 13,089,000 38,544,000 S mi)lorß !.?. y i,397,000 2,453,000 5,138,000 Total -hags received account pool 11,573,000 16.-192,000 45,839,000 Tho financial position was as follows:— 1915-16. N.S.W. Victoria. Total. PAYMENTS. £ £ £ Certificates issued at 5s 8,735,000 8,873,000 24,337,000 Cnrtilicatcs luiid at 3s 8,732,000 8,8V0,000 24,226,000. "" 1,401.000 1,164,000 3,981,000 Third advance 1,012,01)0 1,208,000 3,265,000 1916-17. at Vs!' l 6d!'!!!!"3,978,000 6,225,000 16.969,000 Oi'tillcafcs paid at 2s. 6d '3,920,000 6,126,000 15,851,000 KKAIiISATLONS.. Overseas Dulo ... 7,367,000 7,228,000 21,442,000 M loiii r i S ßalcs ol . b .?. l 5,270,000 4,138,000 11,439,000 Tot al wheat shipped or delivered 12,637,000 11,366,000 32,881,005 Dr. Br. Dr. Net hank balance all accounts both pools 651,000 942,000 2,430,009