The greater part of the unground wheat annually exported from
the United States is shipped during the four months beginning
with September. In the three years ending with June, 1908, the
highest average quantity exported in any one month was in Decem-
ber and amounted to 15 per cent of the total for all months. In the
first and third of the three years the trade of December exceeded
any other one month, but in the second year September had the
highest exports, October the next, November third, August fourth,
and December held the fifth place. This year, however, followed
a year of abnormally low exports, and the unusually heavy move-
ment immediately after the harvest of 1906 is not surprising.
The following statement shows a considerable difference between
the highest and the lowest average exports for individual months,
the lowest being 2.2 per cent and the highest 15 per cent of the total.
In each of six months the average exports were less than 7 per cent
of the total, and in each of five months they exceeded 10 per cent.
The exports for the four months beginning with September aver-
aged in the three years in question 52.7 per cent of the total; hence
in one-third of the year more than one-half of the exports were made.