The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1882-10-19
whea. an q CORRESPONDENCE PRICES.

Wheat an y Corn Prospective Prices.
Tho Chicago, Tribune believes Ia bette,
prices for wheat, and therefore believes
that 1t will pay farmers 10 hold for better
prices, II :suys that the yield has been
over estimated and that the aggregate Is
likely to fall below 5OoooO,o0O for the
country. At present the foreign demand
Is slack, and the domestic demand not
what It will be-, Tho corn crop crop Is estimated
at.,l ,GS0,000,0OO by the Agricultural De-
partment at Washington, but this estimate,
tho Tribune thinks, Is likely to DO reduced.
Speaking otwheat, II says rIH}IR
There Is an impression that but little or
no grain has gone forward this season, and
that the alleged Increase In rates OF trans.
portation has prevented shipments. This
Ia hardly borne out by the facts, The re.
ceipss lot wheat In this city thus far his
year will compare well with those oil, 1851,
and even Of 1850, Mt the same date, The
first demand for wheat was, rs We have
stated, 10 meet domestic demand, and 10
replace the exhausted stock ordinarily held
over. liow far this is true may be seen by
tho fact that wheat has been selling in
Minneapolis at 0l to o. cents, against 81
cents In Chicago, the cost OF transportation
being 20 cents bushel between tho two
points. g31 .r-rai i4f2l l,siia III
THE exaggerated stories Of tho probable
yield OF the American crop, and ctonso.
quently the quantity Of tho American sur.
plus has been freely published abroad and
believed there. The foreign demand has
therefore been controlled md limited for
two reasons. Ono OF these is that an
average good crop has been produced
abroad which is sufficient to meet all pres.
ent demands, and the other Is TINT the
belief in m excessive surplus on this side
causes confidence that this country can DO
called upon, ut n later date and nj lower
prices to supply whatever deficiency may
exist. I: ~ ,-.,.. -, j,syi.loly, NJ
The producers In this country, however,
are under no such stress Us compels them
TO sell at present prices! or at the. present
time. There Is hardly any market at pres.
ent In Europe for American wheat there
is even less market In New York for, tx.
port, the purchases for export being con.
fined exclusively 10 orders to fill up stocks,
and not for business Of Specializing
character. Tho grain that goes forward is
to meet this demand, and there is now
and has been so far fully MS much sent
forward US there has been any demand for.
II more grain was sent forward for export it
would not commando market it would not
cause an additional bushel to be sold, but
would perhaps, hayethe effect OF reducing
tho price. .;1n, ..l,!l a .CiS..dY5. ~
In the matter OF corn the unusual lack OF
receipts Is more easily explained. There
is no corn. Last years production was
exhausted-that is, there were no stocks
held over, and there is no surplus OF corn
this year. The seeming slack movement
in wheat is simply trial OF patience and
endurance. Those who hold the grain Ia
this country regard itasa safe investment.
even il itbe held until next year, and
there is no purpose Of parting with it until
tits sent forat compensating prices. That
such prices are certain to be obtained no
person familiar with the amount likely 10
be for sale has any serious doubt.