New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-08-24
T0E UHE4T CFOP.

The harvesting of wheat il Minnesota and
Dakota is nearly finished, and the prospect Is
exceedingly favorable. On the other hand, the
clop m some States which harvested two or
three week ago does not turn ont quite so
well al thrcshins rs was expected. The cst-
mate Of the Agricultural Bureau rs 70 the
weld in Minnesota is - 10000 bushels,
though some newspaper estimates exceed
10000. 900 bus els The actual yield, We
in.g.. is likely 10 exceed The estimates OF Che
Agricultural Bureau, though not lrgcly. II Is
prclr.bIc :hai most OF the newspaper estimates
are based upon an inadequate body Of returns
chiefly from districts ~ which tho results
have been specially iay"r.ble.
The yield in Illinois and Missouri,
since tie cutting, does not seem to
come cute up to expectations. o.
the Other hand kilograms from Iowa
represent that the yield in chat State gooS
far beyond the estimates made at the time OF
harvesting. In the extreme Northwestern ier-
ritorcs the yield has been surprisingly large
and in Michigan the only other state IL
doubt one week age, the injury to the crop
doe, not seem to have been general or serious.
Accordingly with better and later news from
Mmne,o.a, instead OF about 49O,OO3.OOO
bushels as the probable maximum yield, we
may fairly put 800, 100000 bushels as the
probable maximum. and may, with coed rea-
son. conclude that the aggregate crop OF
wheat will not fall below $4,000, 600 bush
els.
Estimates Of domestic consumption, lith-
crto given. show that fully 2S0,0O0,O00 bush
els NAV be expected 10 b. taken THIS year for
DIT. Il 4 fDl 'at nm of
stocks this year warrants the belief that
8.OOO,OO0 10 100000 bushels more may be
taken. If ihc price should be unusually low, to
III up stocks at home. Domestic consumption
may therefor, be expected to range between
2sS 0OO, 900 and 29j,000,000 bushels, adil-
item 20 home stores included, provided, i'll the
latter case, that the price during the selling
year renains low but not so low as to prevent
q free movement for export.
Estimates ~ to the foreign demand are still
necessarily tentative. Dispatches say That the
wheat crop in Great Britain my fall so low
that 1871 900. 900 bushels will be required to
supply the deficiency, while other dispatches,
giving more favorable views rs to the yield,
make the probable deficiency not more than
10000. 900 to 10000, 900 bushels. But 1t
is well 70 keep in miDd two iacts-that foreign
stores are unusually depleted. and will be Ie-
plenisheI unless the price preveitS (; and Sec
on,i, that the consumption abroad VIII be
much greater with IA low than with high
price These facts seem to have been gener-
ally overlooked by statistlCans.
France is said In some dispatches to need
$4,000 600 to $4,000. 900 bushels. This es-
innate is probably too low because the con
sumption last year, upon which these compu-
taions are based, was DE- cidedy small because
of the unusually high price. Add tho prob
able demand from France for the restoration
OF depleted stocks, and we have prob
able demand from France of $4,000 to
10000, 900 bushels.
The Austrian surplus for export, according
to statistics obtained at the opening Of
the international Corn Market at Vienna on
the 5th instant, is not likely to be more than
100000 bushels, though in some reports
100000 bushels are allowed. Spain and
Italy, taken together, will about supply each
other, and Portugal Algeria and Egypt will
not greatly change the situation. Accounts
from the GerLian harvest are decidedly bad,
and indicate that larger imports than
usual from Russia or elsewhere will be
needed The reports as to the Russian
harvest, though still conflicting, show
that the surplus for export will be very much
smaller than it was last year, the largest esti
mate being 30. 900, GOD bushels.
In brief, the demand from Europe to fill up
depleted stocks and the increased consump-
ton arising from low prices, will probably be
requisite to move Off the surplus OF production
III the United States this year, and demand of
that nature would be greatly diminished If
any attempt should be made to market the
crop ut high price. We shall have nearly OF
quite POO, 100000 bushels of wheat to sell.
and the probability is that much of it will re-
main un,0ld unless we arc ready to send it to
market at price below the average OF recent
years. "
III .i.,;,lc, ,f 49,. q al Iockson ore I'm iha road