Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1880-11-18
The Future of the Wheat Market.

1t is now very certain that the demand
for the wheat of this country, in Europe,
will not show falling off from what it
was during the past year; and the fear
which was eXreSsed in SO many quarters
six weeks ago, that this country, In COLI
sequence of the large estimate OF our
crop of the present year, would have a
large surplus of wheat on hand, which
it would be obliged to sell at remunera-
tive prices, or perhaps be unable to sell
at all, is now known to be groundleSS,
and the prospect is that for another
year at least we shall continue, notWith-
standing the great increase i'll our i'm
ports, to maintain the balance of trade
in our favor. =.
Now that the wheat, hoth here and in
Europe, has been harvested, and the con-
ditiOn of every European country, as far
as its own supply OF home grown bread
stuffs upon which its people are to sub
sist' for year to come, IS known with
sufficient exactneSs for all practical pur-
poses, it is possible to make some eStl-
mate of how much of the American
wheat crop will be required, Or can be
disposed of abroad during The year.
AS to our own crop, the latest and
most reliable statistics that can be gath
cred up to the beginning of the present
month represent the total as not greatly
in excess of 455,O00,000 bushels, which
is consider IDLY below the estimates
made IN, nth earlier. Of this the re-
quirement for home consumption will
amount to about 261,000,000 bushels,
leaving a surplus for export of 1S4, ,000,-
900 bushels, which is considerably less
than the amount exported out of last
years crop.
1t is probable that the demand for our
corn in Russia will be felt the ensuing
year, as the price of wheat will be too
high for the masses of the people of that
country if the shorJness of their wheat
crop is fully confirmed, of which there
seems now to be but little doubt.
In England the crop has been consid-
erably i'll excess of that of the year 1879,
but by the most favorable showing it is
still evident that large importations will
have to he made. There were 3,O57,7S4
acres harvested in 1880, and, allowing
thirty bushels to the acre, there would
still be a deficiency of S4,000,C00 bushels
upon the usual estimate of five and Ont
half bushels per head as requisite to
supply the actual needs of the population.
The Mark Lane Express of last week.
in its weekly review of British grain
trade, says the wintry weather has re-
tarded sowing, but, however, favored
threshing, which reveals the fact that
the large bulk of the wheat was har-
vested in exceptionally good condition,
but very material portion has since
been damaged in stack by rains, and
seed wheatS are consequently salable at
much over the ordinary market quOt!-
tiOns. Supplies of home grown wheat
are small, and good samples are made
readily salable.
If the deficiency in homegrown wheat
in England IS as great as represented
above, it is evident that One-half of her
population must be fed, for the year to
come, on imported wheat. Reports from
Central and Southern Russia, and from
NOr.hern Germany, districts which have
for many years been among the chief
sources of supply for the rest of Europe,
represent that the harvest has been al
most Il failure, and that they will have no
surplus for export. In Russia, indeed,
the harvest has been so bad that there is
already great distress among the people,
who have called upon the government
to prohibit the expectation of grain, and
American shippers find profit in send
ing wheat to the Black Sea ports. The
deficiency in England then, whil) it is |
not us large as last year, still cann't i'll
any degree be supplied by her European
and she sill be oblig d toie-
pend almost entirely upon this copntry