, 1877-10-26
The Wheat Crop and Prices.

Russia has In the past been the only
real rival ofthe United States, in export
ing wheat for English and continental
consumption. The districts of Russia
which produce wheat for export arr those
tributary TO the Black Sea. II II were
not for the war closing these ports, Ras-
sia, although her products are reduced,
would send out wheat enough to seriously
affect our export trade, for the reason
that we have l00,C00,O00 bushels of
wheat for export this year in excess to
that OF the previous season. Not only Is
the winter wheat crop OF the country one
the largest ever harvested aud Of supe-
rior quality, but the spring wheat crop is
immense, and of quality as superior as
is the yield. 1t is dry enough to grind
or.ekport directly from the field.
Last year our wheat crop amounted to
9OO, 900 bushels. This year it is fair
iy estimated at over 325,000,000 bushels.
The largest amount ever exported in one
year from the United States was 90,00O,-
600 bushels. The average export is about
6O,O0O,000 bushels; but last year only
4O,000,000 bushels of wheat was export
ed, owing to short crop.
Under ordinary circumstances, there
fore, we might naturally expect TO see
the prices ofwheat go below living rates.
The speculators of the wheat markets,
among the most ingenious, Inscriptions
and well-informed of any class, have al
ready attempted to carry prices down. so
that they might get large bulk on hand,
to control prices within the near future.
With this view they have already sue
ceeded in carrying the price down to
81 04 for No. wheat. We have advised
farmers to get their crop in condition to
sell so it might reach tide water before
the close of navigation" We see no rea-
son to alter this opinion now; but while
doing this, they must at the same time
use due business tact, watch the varying
phases of the market, and judge for them.
selves as to the proper time to sell. The
export crop of wheat this year must come
from east ofthe Rocky Mountains, for the
California wheat crop is short and will
cut but little figure in the problem.
Vast amounts of grain have lately
gone forward over the Erie Canal, owing
to the low tolls now adopted on this line
of transit. When winter sets in, the
Eastern railways will undoubtedly es-
tablish rates to make up losses sustained
during the summer. If the farmer is
wise, he may measurably take-advantage
of these fluctuations. The present crop
of wheat will pay a good profit at 81 90
and over, delivered in Chicago, st. Louis,
or other prominent shipping points in the
West. We do not think it need even re-
main at this price; certainly not if farm.
ers are prepared TO carry a good portion
of the crops until next season. This,
however, has its risks, and every bust.
ness man must in this respect figure for
Nbimself.
We believe that large as is our wheat
crop for 1877, it may all be absorbed in
European markets, at good prices this
year. There is now no prospect that the
Russian Turkish war is to be ended this
season. If if continues next yearit will
PROSTATE the agricultural resources Of
the Russian Empire, so far as their ex-
port of grain is concerned. If the farm
ers Of the West were in condition to Co.
operate, they might control the grain
trade of the country, as some other indus.
tries control their specialties; this, how
ever, is difficult, on account of their seq
regation; nevertheless, much may be
done by individuals and communities by
watching the market, and through mu-
tual assistance to q given end. If grain
is rushed into market upon failing
price, spectators will take advantage to
force prices lower and then hold for a
rise. The difficulty is, too many sell at
the ebb, and thus get minimum, when
they should get maximum prites. -P'1i-
rie Farmer.