The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-07-17
Demand for American Wheat.

We find in the Chicago Tribune some
plausible facts and figures going to demon :
strate that there is not likely to be an easy
fall In the price Of wheat. The deficiency in
this years European crops makes it appar.
ent, according to the estimates of the Lon
don grain circulars, that we shall be called
upon to export of the harvest of 1879 the
enormous amount Of 272, 900, 900 bushels. ali
OF which will be absorbed in Great Britain.
France, Italy, Spain, Portugal, Holland,
Belgium, North Germany. Denmark, Nor
way and Sweden. In each of these coun-
tries the outlook for the home product is very
discouraging, and the same thing may be
said OF other parts OF the world, except the
United States from which they have been
accustomed to draw supplies in times of
dearth. From Hindostan, Egypt and the
North African coast comparatively nothing
will be exported, on account of the drought:
ana Central Europe, including Aus tria.
Hungary, the Danubian Principalities and
Turkey will have very little to spare. North.
ern Russia will have no exportable surplus,
The rye crops of Germany and Russia prop.
er, owing to partial failure and Nav frosts.
will be short, and those states must be large
buyers of wheat. A Berlin merchant writes
that the Russian crops of wheat and rye will
not be as good as last veal, because Of drought
in some sections, foods in others and locusts.
Rye is the great food crop of Germany and
Russia, and occupies larger per centage OF
acreage than wheat. This rye crop ia not
now expected to exceed 60 per cent Of an ay-
erage season, and the wheat crop Ia poorer
than in 1878. The raost recent dispatches
by cable rather increase the gloominess of
long and careful review made in London
three weeks ago. 1t was then declared that
there would be serious shortness in the
wheat yield in France, England. Spain and
Italy. The shipments from Southern Rus
STA will not go beyond the Mediterranean
ports. Northern Russia usually exports but
moderately. The imports Of Italy. France
and Great Britain, liberal as they are, are
speedily absorbed. The acreage of Great
Britain is 10 per cent less than last year and
the stocks in British cities are now not over
oO per cent of what they were twelve months
ago.
Even the most casual reader will notice
that the above are the views of those W no are
interested in bulling the market, but the
facts are pretty Well substantiated and the
reasoning from them is logically direct. 1t
IS scarcely doubtful that there will be an in
Grea sed deficiency in the wheat crop of
Europe ana IN the supplies for which Wes-
tern Europe has been accustomed to look to
the ordinary Eastern sources. AS the def
cheney will be SO great and the usual sources
Of supply SO much diminished there, the
western countries Of Europe must depend
upon the United States to meet the enlarged
deficiency. And the most important point,
so lar as the producers, handlers and ship
Pers IN America are concerned, is that, it
being a question Of quantity, the foreign
market will for once not dictate the price Of
wheat. Instead Of being sent abroad for
sale' It will be purchased here at sellers pri-
ces. The appearances now are that the sur
pius OF the present American crop, large as
Il Will be, will not more than suffice to meet
lae foreign deficiency. II this be the case,
Then the price of American wheat during the
Coming year will be greater than 1t has been
Tor many seasons. Farmers must get their
share of the profits; railroads and canals reap
the benefit of brisk transportation business,
and the shippers at the seaports have their
hands full Of work. The matter is one in
which Baltimore has deep interest. With
our facilities of receipt and transhipment at
bidewater we may look for a further gain in
This traffic if things turn out as it seems alto
gether probable they will do.-Bazto. Amer
ican of the 1914.