The Phoenix herald., 1879-11-21
The Grain Trade.
From the New York commcrclal.l ]

From the New York Commercially The enormous quantity of grain
 which is on the way to this city by
 rail and canal appears to be only s fragment of what is wanted Tor traus
 portaiion. if the shipments of tho
 past three months are to be taken in
 to consideration. Official figures
 show that up to Saturday night last
 there were on the canal. bound for
 the water, 2,s02 900 bushels of wheat, i .1O5, 900 bushels of corn, 94,OO0 bushels of oats, 784, ,0OO bushels of
 barley, and 71O0J bushels of rye. 1 These shipments are all expected here within fourteen days, and, not withstanding the sharp weather of i the past few days, are not likely to
 be caught by the Winters ice. IL IS
 calculated that grain can be shippf d
 from Buffalo safely up to NoveniD"r 10th, and later shipments have been
 made and brought through to this pert, but cannot always be relied upon. Rail and lake shipments, ac- cording to the official figures, were for the four weeks ending October
 18th. In wheat, 1l,376, 40 bushels i;
 corn. S.791 ,SS1 bushels; oats, 2,OlO,- S35 bus IcIs; barley, 3S6,7 bushels; {;
 rye, 57e,0i9 bushels. Most of the
 arrivals find their way almost inn
 medlately to sea, and the magnitude of the exports is not yet fully com
 prchended.
 The wheat crop of 1879 is estimat- ed at 425, 100000 bushels, of which 250, ,000, ,000 are required for hom . consumption, This leaves 100000
 900 bushels for the European de-
 mand, and Is, 100000 for other parts. How fast this surplus has been going away from the United States is shown by the official figures of Mir. H. Walker, the statistician of the New York Produce Exchange. He shows that from July lst to October 18th there were exported from the Atlantic shores, 76.693, ,917 bushels; from San Francisco. 3. "A. .SS3 bushels, and from Portland. Oregon, to October 1st. only 19S, ,964 bushels, making & total of g., ,580, 760 bushels. Of this it is estimated that about 15, ,000, 900 bush els were from the old crop or 1878. Mir. Walker says the magnitude of this export movement Is not fully comprehended when expressed in million bushels. Loading 400 bush els iii freight car sixty feet long, the amount of wheat exported up 10 the time mentioned would require for Its transportation 156, ,452 cars. which, if made up in one continuous train. would extend 2,346 miles. If loaded in ships of 5000 tons burden. il would require fleet of 325 ships to convey the wheat alone across the ocean. He estimates also that this export of ~ heat has brought into this country in exchange for it, in gold or its equivalent, more than S100,OOO,- O00- The demand from foreign 1 markets has not materially fallen 1 sff. and it is believed that all which 1 ran reach tide water before the close | of inland navigation will fad ready l sale. even if ii is not already bought l up prior to delivery. The We tern farmers in many cases are holding | back the wheat, in the hope that they | may he able to realize $2 per bushel 1 for it; but the conservative operators | Ire of the opinion that in this desire l hey will be gricvously disappoint- d. although they feel assured that iIe present rates will bc maintained or some time.