Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1878-10-25
AT NELFORD.
THE PRICE OF WHEAT.

Reasons Why II 10 Likely to Bring Better
Price than al Present.
Chicago Tribune. Oct ~.
Though the price Of wheat is regulated and
controlled BY the price offered for il from
tim. 10 time by consumers, nevertheless the |
fact remains that the general consumption
Of wheat is 60 far necessity, and the guam
tily available 10 meet the demand is within |
such ascertained limits, that i; is reasonable
to assume that the grain can and will com.
mand in proper tine q better price at this
oiut than n or 81 cents bushel, at which
rates it has been selling in this city during
the past week. We do not undertake u fix
any SUN a. the probable price when wheat
will command a. any date with n the near
or more remote part Of the season; but know
ing the lar.er estimated quantity needed to
NEE, the British deficiency, knowing the
large proportion Of our own crop that falls
far below ,he ordinary grade, we think it
meet the mand and the q"antity avaiia-
much higher prices than are low Offering
Assuming that the present low price Of wheat
is du to the Immense etock in warehouses
in this country and Europe waiting sale TO
consumers, there can be no reasonable ex-
pectation of au advance in price 81 long as
the producers continue to forward all they
have e.. be sold for what can be got for it.
A market that 10 depressed because OF sup
ply far exceeding any present or near de.
mand can only expect to be further depress.
ed by cunlinueing to pour more gain into
the market and keeping the warehouses
filled 10 their utmost capacity.
1t is true there has been large crop q
wheat, and, measured by bushels, the quan.
,i,y is vary large; but as We showed the 9th
er day. at least one half the spring whea
received, the bulk Of which is ordinarily No
2, is TIN. year not above No 3, while Of the
corn and oats receive d one-fourth 10 claesec
as rejected. The CROP therefore, measured
by quality as we'll a. quality, is not 20 fa'
in excess of former yeary as to authorize
such decline in the market price.
Under all these circumstances the pro
ducers of wheat can probably understand
that they have been too fas, in Forwarding
their products to market. The annual Gro,
Of breadstuffs must cover the consumption
Of the whole year. To place the Who'll,
crop Of wheat on the market at one tim.
e must Of necessity force the price to the low
!. est margin, and in the tame proportion an,
supply forced on the market in excess o
the demand must have tendency to reducs
the market price. The remedy, 90 far as
D the low price is due to an excess Of supply
8 of wheat on the market, is in the hands O
the producers, who can hold their wheat
and corn and oats and hogs until, in the
: natural process Of consumption, the supply
in the market shall have been reduced in
o proportion to the wants for consumption
!, The wisdom Of this policy ought to be OBJ
:, , vious to that class Of producers whose pro.
ducsions Lave been selling in this city dur
b ing the last week At such prices - No.
). wheat "a to so certs; No. 8 wheat, at 63 to
65 cents; corn At 3S3 to 34} cents; and live
hogs At s. 80 per 100 pounds-,hese price.
including transportation, commission and
Q storage.
J. All branches Of trade are interested iu
this matter. There is not manufacturer
, nor workman, nor merchant, who is moi
personally interested in having the farm
;. products sold At fair price. The men whc
: cultivate the land are the great oonsumer'
Of manufactures. The more they ga fol
., their products, the more they are able 4
purchase, and the greater addition made I.
!. The national wealth. A rest, . temporar!
4 auapensioo Of ehipm. n.s to market, b
= equalising ,he stock. in warehou.. to the Dc
mand for cou.ampsioo. may possibly hav
: heai,hfol effect in the recovery Of price
> 10 market where oil ars allen and bu
\ ! - asu nafehaoefa.