Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1879-07-23
Demand for American Wheat

We find in the Chicago Tribune
some plausible facts and figures
| going to demonstrate that there is
not likely 10 be an easy fall IN the
price of wheat. The deficiency in
this years European crops makes ,s
it apparent, according TO the e'tl~
mates of the'I,ondon grain circulars,
| that we shall be called upon to ex-
port of the harvest Of lSl9~fhe
enormous amount of 272.0OO,OOO
bushels, all of which will be alb
sorbed in Great Britain, France,
Italy, Spain, Portugal, Holland
Belgium. North Germany, Den
mark, Norway and Sweden. In
each of these countries the outlook
for the home product. is very dis
|couragmg, 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 ac,
count Of the drought; and Central
Europe, including Austria, Hun
gary, the Danubian Principalltles
and Turkey will have very little to
spare. Northern Russia will have
no exportablc surplus. The rye
crops OF Germany and Russia prop,
er, owing to partial failure and
May 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
wear. because of drought in some
sections, floods in others and
locusts. Rye is the great crop OF
Germany and Russia, and occupies
a larger per ccntage Of acreage than
wheat. This rye crop is not now
expected TO exceed 60 per cent OF
an average season, and the wheat
crop is poorer than in 1878. The
most recent dispatches by cable
rather increase the gloOminess of
a long and careful review made IN
London three weeks ago. 1t was
then declared there would be a
serious shortncss in the whc 1t
Weld in France. England, Spain
and Italy. The shipments from
Southern Russia will not go beyond
the Mediterranean ports. Northern
Russia usually exports but mod
eratclv. The imports of Italy,
France and Great Britain, liberal
as they are, are speedily absorbed.
The acreage OF Great Britain Is l0I
per cent less than last year, and
the stocks in British cities are now
not over 80 per cent Of what they
were twelve months ago.
Even the most casual reader Will
notice that the above are the views
of those who are interested in bull
inc the market, but the facts are
pretty well snbstantiated and the
reasoning from them is logically
direct. 1t is scarcely doubtful that
there will be an increased deficiency
in the wheat crop OF Europe and
in the supplies for which Western
Europe has been accustomed to
look to the ordinary Eastern sources.
As the deficiency will be 50 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, 50 far as the pro-
ducers, handlers and shippers 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
prices. The appearances now are
that the surplus Of the present
American crop, large as it wall be-
will not more than suffice to meet
the foreign deficiency. If this be
the case, then the price OF American
wheat during the coming year will
be greater than it has been for
many seasons. Farmers must get
their share of the profits; railroads
and canals reap the benefit OF a
brisk transportation business, and
the shippers at the scaport' have li!'
their hands full OF work. The
matter is one in which Baltimore
has a deep interest. With our
facilities of receipt and tranship-
ment at tidewater we may look for
a further gain in traffic if thln1ga
turn out as it seems altogether
probable they will do.-BaIf'"'0re
Americoa Of the 1914