, 1867-10-25
The Wheat Market.

The San Francisco Commercial Herald
has an article in relation to the wheat ex-
port, which seems iu a measure 10 account
for the recent advance in prices. 1t says :
We now propose to give a comparative
review of the produce trade for the hrSt
three months of the present harvest year, be>
ginning July 1st, 1867, as compared with
a like period in 1866 New York has in>
creased her demands for our breadstufs as
follows: In 1866 she took only 797 barrels,
of -four during the period above stated, but
since harvest this year she has taken 20, 6ol
barrels, an increase of l9,9O4 barrels. vi
Wheat she took GO, ,447 sacks last year, ag.
ainst l6, 1872 sacks the first three months OF
this harvest year, difference Of 52, 745; re
duced to Wheat at two cents the pound, the
money value of Ter requirements for the
three months ending September SOth, is
$3.50, ,470, S223, ,594 more than for the same
period last year The requirements OF
Great Britain show a still greater increase
over the corresponding period of 1866.
That country took s930,64S worth of our
breadsiufs in the period stated, but this year
she has to the value of S2,70l ,O44 in the
same time The exhibit of our -four trade
with China shows neither decline nor ad,
vance, but the exports of wheat were much
less, having fallen off three quarters. On
the other hand, South America has made
mands upon US for 46,S82 barrels of flour
and / ,049 sacks wheat, being the cOmN
mencement nf our breadstufs trade in that
direction.
As further Illustrating the causes which
led to the advance, and which afford good
reasons for believing tLat high prices will be
maintained, we copy the following from the
New York Post:
The late advice5 respecting the European
crops indicate generally deficient harvest
that is scarcely up to the average of former
years. 1t is ominous that at the commence
ment of the harvest prices 10 grain should
rise in nearly all the Continental markets.
In France the crops are inferior both in
quality and quantity, and the Government
is purchasing grain to provide against the
dangers Of future scarcity. To add to the
misfortune, there is an almost total failure in
the harvests in Algeria, which has heretofore
sent large supplies Of breadstuffs to France.
In Spain the crops are so deficient that the
Government has opened all its Mediterranean
ports for free imPortalions of grain. In
Belgium and Portugal the harvests are lin
tied, while the accounts from the great grain
producing regions of Central Europe are
anything but satisfactory. In England the
gloomy apprchensions respecting tue harN
vests have been partially dissipated by fne
weather, and there is a prospect of larger
yield than had been anticipated. But the
supply at best would fall below the average.
From these accounts it appears probable
that there will be an active European de-
mand for all the Surplus produce in the
Western States that can be moved to the
Atlantic seabOard for some months to come
The supply in England and on the Conti-
ppagt nee gAs rYSIy lImyed, and the drst fruits o.
consumption That there will be anything
like famine or famine prices in Europe i:
entirely improbable. But there will be IN.
doubleday, a good d:mand for American
breadstuttS at remunerative prices.