The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1880-11-17

kets its surplus grain, say, next April, Chill
in January, and Australia about the end OF
January. 1t is believed that the prelimi-
nary estimates. for these countries are fully
large enough, and this although late reports
from Australia, the principal exporter Of
the countries in question, are favorable.
Notwithstanding the general failure of the
Russian wheat crop, that country is includ-
ed among exporting countries 1t has need
to import grain, but rye and Indian corn
will be brought in to supply the need, while
wheat will undoubtedly be exported to a
nominal extent. say 100000 bushels, as
stated above. High French authority as
sumes- that France will import 40 900, 900.
The average annual wheat consumption of
France for the last few years is given at
103, $40 hectolitres, or 292 440,T15 bush
els. The imports for 1879 were 29,l16.294
hectolitres, or 81, 496, 166 bushels. The i'm
portation required for the current, year
shows a marked falling off. For the last
six years the average annual wheat product
of the United Kingdom has been 20, $50, 900
bushels; the average annual importation
has been lis, 224 900 bushels. The importa-
ton of wheat last year amounted to 13l, 200,-
600 bushels. The estimate of 1000 900
bushels for the wheat importation of Great
Britain during the current year is borne out
by the official returns of the British Board
of Trade. In ordinary years Germany inn
ports net IL, 600, 900 bushels of wheat. This
year the rye crop of the Empire, which con-
stitutes so large proportion of the food of
the German people, is some 100000 tons,
or lis, 600 900 bushels, short. Even two
thirds of this would amount to $4,000 600
bushels. 1t is not to be supposed that this
deficiency would be largely made up by inn
porting wheat. The supply will come from
the surplus rye crops of the neighboring
countries and from Indian corn, which are
cheaper than wheat. Austro- Hungary
France, Belgium and Holland, all have good
rye crops. In the light of all the facts, we
estimate the probable importation of wheat
into the German Empire at 20,0O0,0O0 BUSH
els, and these figures will, it is believed, not
be far out of the way when the receipts
come to be figured up.
The apparent surplus of wheat over the
WOrlQ neeu Is SO Small tndt CONSTRUCTING
the probability of consumption at home and
abroad increasing rather than decreasing,
there is no good reason to count on declin-
ing prices. The shortness of the Indian corn
crop in the United States will have some
effct in sustaining the price of wheat
Again, it is not possiblefor prices to decline
materially without speedily increasing the
demand, which in turn will react in the
direction of higher prices. Having regard
to all the factors entering into the present
wheat situation, it is concluded that a con-
tinuance of fair prices for wheat is justified
The apparent surplus of 100000 bushels
in the worlds wheat product is not so large
as to justify fears of very low prices.
There is little more, if any, than
enough wheat to supply present
and prospective deficiencies. For
this year, at least, the wheat producers of
the United States bid fair to receive fairly
remunerative prices for their crops Such
views of home and foreign supply and
demand are well calculated to keep prices
we'll up until the next crop is harvested and
ready for market 3 hI Lffs.