Morning journal and courier., 1882-09-21
What of the Crops and Prices

Mir. Orange Judd writes as follows on crops and prices in the American Ag17cultaTist for October:
 No other question is so puzzling to the mass of farmers as to decide whether to sell at once the wheat, corn, oats, etc, which they can spare, or to hold on in the kops of higher prices. To no other subject do we give so much thought as to an effort to form @ fair estimate of the probable future range of prices that we may offer trustworthy suggestions to readers. But never be- fore have we been more ''at sea- on this question than during the first week of Sep tember of the present year. Formerly the range of prices was largely governed by the actual aggregate yield here and abroad-the relative supply and demand. But during two years past class of spectators. far more numerous, and of much greater fnan- cial strength than ever before, have under taken to manipulate the grain and provision markets. The buying and selling on mar gins have been carried to enormous figures The aggregate sales of corn, wheat, oats pork bacon and lard have many times ex ceeded the entire product of the country. Cliques have been formed to buy up the en- tire available supply, and put the prices up or down, as best suited their speculations from time to time. By such means the great mass of consumers have been compelled to pay much higher prices for their daily food than should have prevailed, and the natural
 
 tailed, and nuch injury done to the entire business of the country.
 As some parties have already bought or sold largely for delivery, settlement of margins, for all the later months in this year, it is the interest of these parties on the one hand to diligently circulate every possible disastrous report as to the weather and the condition of the growing crop. Every rain storm and every fall of the thermometer has been godsend to them and telegraphed far and wide. Anything that would sustain prices has been money in their pockets. On the other hand, large class. having con- tracted to deliver. or pay a margin on any product, at stated price, are doing their utmost to create the impression that there is to be an unprecedented yield. Under such influences it is scarcely to be wondered at that from day to day there come estimates of yield of corn varying all the way from ], 200, ,OOO, 900 to 2,OOO, ,OOO, 900 bushels, and of wheat from 45O,OOo, 900 to 6OO,OO 900 bushels. The present probability is that the yield will be a mean between these various high and low estimates. If no long contin- uod storms come on to destroy much grain still in the shock in the field. there seems Q fair probability of our having total wheat yield of soc, ,OOO, 900 bushels-a larger crop than ever grown before. * The outlook to- day is, that there will be an abundance of comparatively cheap food in all parts of our own country, and that the foreign demand will be sufficient to absorb the surplus, pro- vided, always, that nero speculation does not maintain too high prices. Probably good or bad weather, it affects the ripening corn and wheat still out in the field, will decide whether prices continue at present figures, or rise or fall little. Judging from present indications, we shall look for no material change from currentr ates, though the favora- bls weather still prevailing is tending to lower values. The only advice give to many anxious inquirers is, that it is on the whole best to sell when ready. and avoid risk of storage and of lower rates It hardly pays the average producer to speculate upon the future-especially when the shrewdest investments still at stake are themselves in 8 very uncertain state of mind as to the out look