Wilmington daily commercial. [volume] (Wilmington, Del.) 1866-1877, 1875-07-27
FIRST EDITION.
The wheat Market.

THE HOME CROP AND FoREIoN YIRLDs-DEMAsD
AND SUPPLY. HERE AND ABROAD.
The New York Tribune SAYS Last week, in
the grain market, has been far more active, the
excitement far moro intense, the aggregate sales
very much larger, and the advance much more
rapid than the week previous. This great ad-
vance in Spring Wheat is due chiefly to the char
acter of the adyices from Great Britain, which
from day to day have been intensely exciting
and very important. The British Islands have
been visited by the most devastating and de-
structive Hoods over known indeed there is no
| comparison with them in the history OF that
country. The area visited by the floods is the
most highly cultivated and the richest agricul-
tural country in tho world; hence we cannot
now form any idea of the extent of the damage
done, but upon this the future value of wheat
largely depends. These deplorabe Hoods have
caused almost suspension OF all outdoor busi-
ness there, and prudent business men have pre-
ferred to wait until tho storm was over to know
how to act inteligently, but some time must
elapse before they can get even an approximate
idea OF the. extent of the. damage done. Much OF
the wheat 30 long under water ID of course WORTH
less, but the growth of much of that that es-
capped the flood has been greatly retarded the
crop is backward and there is much apprehen-
sion for the future.
The rains at the West still continue, and in
Ohio and Indiana the injury to the crop has
been serious, and for four weeks past there has
been little cessation of rain. The few intervals
OF sunshine have not been OF sufficient duration
to enable farmers to dry their wheat properly,
and much OF it has been injured by rust and in
the stack, more especially in the southern and
central parts Of those States. AT the north, rust
IL greatly complained of, and the harvest has
been greatly delayed. 1t is now very evident we
| shall have u large supply of poor wheat. where
we had counted on a good article. The yield to
the acre we have long since reported greatly be-
| low an average. From Kentucky and Tennessee
we have reports of great injnry to the wheat IN
| the stack.
Thus far the accounts from the North-West
| have been favorable, though some appreben
sion is expressed in consequence of the late
| heavy rains. The present prospect IL highly
| favorable The promise now IL OF yled con-
| siderably lager than in 1873. The aggregate
| sales of the week are much lower than the
previous week, but the major part Of the busi-
ness has been of speculative character. The
wheat on the canal has been sold and resold re,
| peatedly, and most legitimate orders could not
be filled. Unlimited orders from Liverpool
| and the Continent were promptly hlled, but rev
such orders have come to hand.
The Intelligence from the Continent is varla-
BILE. In some localities the crops are about an
average, but generally the reports are unfayor-
able ; in France, Hungary and Austria, Swii2er-
| land, and portion OF Germany and Belgium,
their crops has been greatly injured by drought
frost, floods, and later by the premature ripening
| Of the plaintiffs more especially true OF Hun
| gary Austria and Southern Russia-and the IN
dications now are that the crop on the continent
| will prove considerably below an average. From
the Pacific coast we learn the movement OF
wheat ia very light the farmers in California
are not disposed to sell their wheat and nothing
was shipped last week. In Oregon it is TOO ear
| ly for any movement. From Australia the ad'
| vices are not 30 favorable From Victoria where
| it was supposed they had a considerable sur
| plus, later reports indicate a deficiency Our
position we regard as very important and in.
Al.n,,l a.,riY.p
| favorabiy, we could then count on an active
| trade at satisfactory prices.