The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-09-01
THE MARKET

IL Is rarely that we have had to record such sud
den advance in grain and -four, with the activity
so well founded in fact. The ascertatned shortage
| in the wheat crop in this country compared to
what was reported before it was garnered the con-
tinued and unusual drouth which prevails in this
country, and the damaged condition of the crop on
the continent by reason Of too much rain, have
| spired to the enhancement Of prices The state
ments from the European centres of trade, indicat
| ing material diminishment in marketable grain,
| are somewhat counterbalanced by the encouraging
returns from Russia, whore very large wheat crop
has been gathered, that will enable that country
| to supply the demand, which, for some years past
| the United States have supplied. In this market
the prices Of flour have been in some degree regu
lated by the scarcity Of water which prevents the
mills from grinding, preventing supply equal to
the local demand. There is no family -four offer
ing. Extra is quoted at 81 So; Sup. GO. Wheat SO
to 49, Corn 80. Oats As to so. Rye IS to co. Clover
Seed as; Timothy, rs. Bacon, hams, Is; sides
and shoulders, 12k.
In Richmond, wheat At to 1 50. Corn ar. Oats S.
In Baltimore wheat As to 50. Sept delivery 46
TO At. Nov.1 49, To- / 80.
report Of the condition of the wheat crop In
Russia has been sent to the State Department by
Minister Foster. He says that from correspondents
in various parts Of the Empire he has received re.
ports which show that the yield of this cereal for
the present year Will be immense. The yield in the
country tributary to Odessa the Black sea- 1t is
estimated will be so large that the people will need
no more for four years. There Ia the best crop
along the river Dan that has been harvested since
1874. Reports from Moscow also show that in South
ern Russia the is very large tits not SO heavy
in Central Russia, but the yield Will still be abund
ant, and through all the districts tributary Mos
cow the wheat product will be larger than for twen-
ty years before. The Minister believes that the
great crop this year will have benecent influence
upon the political agitation of the country because
wel-fed men are less quarlesome than hungry on es
dispatch from London, dated Aug. 20, gives the
following: "The Mark Lane Express, In its review
Of the British grain trade for the past week. says
The past week brought general disaster ruin to
the harvest. The series Of intermittent storms cul
minated on Thursday in general thunder storm,
with deluging rainfall To adequately estimate
the damage, We must remember that the downpour
Of rain was on sheaves, which had been repeatedly
wetted and dried, or on standing grain, which is
literally eaten up by mildew. In the flooded dis
tr1cts the disaster is complete, Unattached shocks
have everywhere suffered from Thursdays deluge.
The position Of the harvest has materially affected
trade, and rates improved q shilling on Wednesday
and further shilling on Friday. The advance,
which would have amounted to several shtllings
had Thursdays weather continued, was checked by
Fridays sunshine. The advance in the provinces
was milling beyond that in London. OF the few
samples Of the new crop offering, nearly all had
sprouted. The earliest parcels are the best. For
eign wheats are two shiiings, and flour Is to Is 3d.
better, The English markets very bare of for
eign -four. The supply of native grain in the pro-
vinc1ai markets is almost nil. The port markets
are therefore greatly strained. The stocks on
either side Of the Atlantic being in strong hands,
The sunn1v fho
growers in America forward the new crop In SUM-
Gent bulk to overpower the Atlantic SPECTATORS
The New York Tribune OF the 30 in reviewing
the grain any gold market for the week ending Sat
urday last says:
In the grain market the speculation has been very
active, and sales are recorded Of nearly 100000
bushels of wheat $500 GOO of corn, and of
oats The course of prices has been upward No. Q
red winter wheat closing at 81 AK against 81 ssx on
the Goth, and corn at 71H cents against 70 cents In
oats there has been no considerable change. The
continuance Of the speculation at Chicago and 9th
or Western cities is an unfavorabe feature though
y mas been some increase in the demand for export
and by gloomy news as to the crop in Great Rritian
1t is evident that the British demand is going to be
larger than 1t was last year, and Journals having
special facilities for information In regard
to the home crop of wheat are still differing wide
ly, some claiming thai the yield will be much be
low 4oO oo30OO bushels, while sThe Commercial Bull
iet1n" estimates that it will be about 42s,O00OoO
ooshels. AS to corn, the divergence is still wider
'sPhe Bulletin" computes that the decrease will not
be more than 100000 bushels, or 5X per cent,
whlie many other journals claim that it will exceed
ooo,oo'oeo bushels. Apparently they put no faith
IN the report OF the Agricultural Bureau, showing
an increase OF 1882 per cent In acres planted in
corn, but prefer to place entire confidence In the
report OF the same Bureau that the condition Of
corn crop decsned from 30, July l. to IT, August l.
On tAhe, other hand, much damage has been done in
August by drouth, for which sarhe Bulletin did
not make allowance,