The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-08-25

There has been an unusual advance in grain and
since last ISSUE This is the result of the
conceded fact that the wheat in this country f.
known to be much shorter than anticipated. In
this section the straw was short and the yield to
the straw not more than three-fOurths OF what was
expected. Take 1t all around, and the yield this
year is not much more than half OF last year, whom
a very good crop was garnered. This, In connec-
ton with the shortage in the West and the unfavor
able reports from Europe have stimulated speculs-
tion causing prices to jump at rapid rate We quote
-four, Family, IS IS; Extra, $6 76 Superfne, IS So
Offerings limited and disproporttoned to the Offer
ings Of wheat. Wheat, Fultz, Is to SO. Red 80
to SO, and actively coming in. Timothy seed 81 rs
per pushel Clover seed, IS Is; Corn rs to 80; hay
IA to SIS per ton, baled Bacon, hog round, $1l so
per 100 lbs.
In Richmond, Lancaster wheat ranged from 40
to At; Fultz rs to 40, according quality. In
Baltimore Amber, 40 to / 46. Sept ember delivery
Al to 81 A. October 81 A; November. 81 As to u A.
The Mark Lane Ezpress, London, % Aug, In Its
weekly review Of the grain trade, says; 1.-THE past
harvest. Mildew is rapidly developing in the
standing grain and the cold nights and hot, moist
days causing that in the sheaves to sprout. The
quality OF the wheats from which the very best
suits were expected Is found to be affected by pre-
mature ripeness, and the quality and yield dis
appointing. In Both Great Britain and the con-
tinent there has been an advance in the price Of
wheat, not solely account of the disappointing
harvest. Stocks have been let down low In antici-
patton Of early deliveries These calculations have
been upset by the weather, which entirely prevent
cd threshing from the fields. The bulk of the crop
must 60 through the ordinary sweating in ricks be-
fore 1t comes to any extent the market. Particu
larly, thore is no old native wheats. The advance
is in sympathy with foreign values. wheats opened
at an advance Of 2s@3s, closing ss94s dearer. The
new crop is difficult to quote, account of the |
varied quality and scarcity The foreign trade has
been more active; millers have been piling up
stocks at an advance Of 3s@As per quarter. Flour
has been scarce the spot. On Monday prices i'm
proved 49,, and on Friday values still nrmer
Foreign supplies continue light and show similar
The New York Tribune OF the 2sd, in discussing
the various calculations which have been made of
the crop In this country, concludes:
If we have on hand, of old wheat from the crop of
1885, nearly 600 bushels, 1t follows that crop
Of QUO or bushels this year will sup
ply as large domestic and foreign demand, The |
foreign demand does not seem likely to be as large
IS it was last year, though the crops Of England,
dispatches show serious losses in Hungary because
the Russian crop appears to be exceptionally good
It is now supposed that as much 60 900 900 bush
els may be exported from Russia. against about
80 600, 900 bushels last year. With change else
where, this would diminish the demand upon this
country by 30,OO000O bushels, and II present high
prices are maintained the foreign demand viii
surely be still further diminished. Hence q very
large decline in yield-larger than any authentic
report now warrants us in expecting-must be real
lied in this country before the large surplus last
year and the new crop can be exhausted, with d.
foreign demand.
These comparisons indicate that the advance in |
the price Of wheat, from about 81 one year ago to
about u 40 per bushel now, has been due to specu
lative influences, rather than to change tn the
relation Of supply and demand. Possibly the same
speculative com btnattons may put tho market up
still more But the statistical position does not
warrant the advance which has already occurred, |
and the chances are that foreign buyers WILL get
wheat at much less than the present price in this
masket before another month has passed. Unless
they can, American exports Of wheat win probably
be materially reduced for the coming year.