The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-10-16
Interesting to Farmers.

Since our last issue we notice the follow
ing editorial article in the Baltimore
Sun Of the 18th, which furnishes informa-
ton which will be interesting to the far
mers generally, and by carefully consider
ing it, may be of advantage to them, in
governing the disposition of their wheat
crop 'sThe Saturday Review, which is al
ways careful and conservative in its canvass
OF facts, and has certainly no interest in
misrepresenting the condition of Great
Britain as regards the wheat crop, says that
the crop OF wheat for the present year is
1.-THE smallest within living memory. To
the United States we have to look for the
great bulk of our food for the coming year.
All over the country the harvests are de-
fcient. Even Austro-Hunga which is
usually an exporter, will most probably
this year have to import and Russia has
much smaller surplus than has been the
case OF late years. Thus the Americans are
masters of the situation.'' The question of
how much wheat the United States will be
able to supply to hungry Europe thus be-
comes OF the greatest interest. The Chicago
Gram and PaOcis,oR Reuiew attempts to
furnish the data for the solution of this
question. 1t estimates the crop of the
United States at $4,000, 900 bushels. and
the home demand for food and seed at
270,OOO,O 600 bushels, leaving for export 49,
100000 bushels. The probable requirements
ofEurope, South America and the West In
dies are calculated to amount to 2S3. 1000
00O.bushels, leaving a deficit of ITO, OOO, 900
bushels over and above the greatest possible
expectations from the United States. Rus
STA, British America, Australia, Chilli and
Canada, it is supposed, have a surplus for
export estimated at 81, 100000 bushels, thus
leaving an absolute deficit of $4,000, 600
bushels which must be met by reduced con-
sumption. These figures, it is to be pre-
missed, are not altogether trustworthy, be-
ing in measure guess work, or at the best
merely approximating the actual results
But they are sufficiently close to the facts
to show that there is large deficiency in
the wheat crop of the world and ready
market for every bushel which the United
States can spare for export
The Baltimore american of the same
date says ''The wheat market yesterday
was very strong, and during the first part
OF the day rather excited and irregular,
and at the opening the improvement of one
cent which had been gained was lost, but |
strange to say, recovered after Change,
when the feeling became stronger, but per-
fectly steady. Sales for October were made |
at LBS to s1.39 per bushel; November at
1883 to 1.41, a sale of 10000 bushels being
made at this figure; and for December,
$1.3Ss to 81 LAS, the highest price yet touched.
A further rise seems inevitable,a as the panic
in Europe seems to be increasing, and those
who bought in the excited times of week
or SO ago now have cause to laugh in their
Sleeves
The information and conclusions fur
nished from the reliable sources given, 90
to show that in our reference to the wheat
market, we have heretofore rather underes-
timated the relation of supply and demand.
From the figures we have presented through
these columns las to the amount of produc-
lion in the country, and the deficiency in
Europe, we were lead to the conclusion that
The supply and demand would be about
evenly balanced, and that the guage of
prices would be regulated by the cost of
production, and reasonable profit on in
1estment and labor. 1t appears from the &
tatement in the SIM that the deficiency !
viii be about SIS, 900, 900 bushels which will
ave to be met by reduced consumption, q
nd that all the indications point to a con-