Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1884-09-23
IN DOUBT ABOUT WHEAT.
Jnfavorabie Weather in Minnesota an
flnkpta.

jnfavoTabIe Weather in Minnesota and
Dakota.
\ 81. Paul Mimi special says: The Sit
uati0n in Minnesota and Dakota is getting
to be decidedly mixed rs regards the wheat
crop, and both farmers and grain-buyerS
are beginning TO have much uneasy curl
osity concerning the final outcome. The
total yield Of wheat this season is undOub,-
eddy the largest for years. A. stated in
these dispatches not long ago. there l. every
indication that the estimate OF Gl.0OO,00O
bushels for Minnesota and Dakota is much
below the actual amount that will be pro-
duced by the threshers. Up to within
fortnight reports have been very favorable
rs TO the quality Of the grain, and it was
generally expected that even larger per-
ccntage THIN usual would grade high. For
some days past, however. there has been
decided change in the situation, and just
now everything is clouded in uncertainty.
The cause of all this is the weather,
which Tor Two weeks has been very I'M
favorable. There has scarcely been dlv
during that period that 1t has not rlined in
some locality in the Northwest. In many
places scarcely day has passed without IL
shower, or at least without it, damp, low
ering atmosphere. Coming rs il did in the
very midst OF threshing, this has proved
real danger TO the integrity OF the
crop. In many localities threshing has
been wholly suspended. or the work
has been carried on without wait
Ing for the grain TO dry. Thls Is
particularly true Of many portions
Of the Red-Riyer Valley. and reports indi-
cate that the same is more or less true along
the line OF the Omaha road. All this has
caused much uneasness among the millers
and elevator men. and country buyer, have
been Instructed to strenuously urge upon
the farmers the great importance OF seeing
TO il that their grain Is thoroughly dried
before threshing. The farmers are very
apt to neglect this precautiOn. notwith-
standing that 10 do so j. sure to entail
heavy loss on themselves; for one bushel
Of damp wheat in carload. with the wea-
Their as it has been OF late, Is almost certain
10 damage the whole.
Tia, tins danger is real and by no means
imaginary may be gathered from the fact
that IA well.informed grain man told the
Illness correspondent yesterday that out
Of $50 or 17j carloads OF wheat received
daily at Minneapolis no less than from 10 to
- were condemned by the inspectors on
account OF damp. 1t is also noticeable in
the marked stiilcnDg OF prices during The
past few days. though this is also due In
pari TO another cause spoken OF later on.
I'm fine, the prediction made not long
since bv Mr.. Pilsbury, Of Minneap-
oils. that should the damp weather
continue many days the price Of wheat
would materially advance, seems likely 10
be fulfilled. OF course it is wholly impos-
sible to estimate the extent OF the damage
done by the rains. That can only be done
when the entire crop has been brought to
market and been inspected, and from pres
ent appearances that will not be accom-
plished very speedily. To make rough
guess, however, | should not say that
the damage would much exceed the eX.
cess of this years yield over that OF
1855, thus placing The two seasons about
on a Tar as regards yield. As regards
returns. however. this estimate would
make this year the less profitable one Tor
the farmer. just one year ago the Mime
apolis Millers' Association was paving 81
for No. bard, and 50 cents for No. .. Now
No. hard brings about 20 cents, and NO.
. hardly g. cents at Minneapolis. These
DI ices mean about 10 cents less 10 farmers
living 80 to 800 miles away. As 1t doe,
not cost far from 30 cents TO raise 4 bushel
OF wheat, il is not hard to see that the farm
er's margin Is not OF particularly magnln-
cent proportions.
Another element in the situation at pre-
sent. and one tending 10 higher prices. Is
the strong disposition shown by the farmers
to ho'd their wheat until prices rise to a
higher and more remuneratiy level. Owing
TO the wretched credit system that prevails
so largely among the farmers OF the North
west, the milers and grain buyers in gen
eraI are able 10 reckon with great GER
taintv on the fact that large percentage
Of the farmers will be forced 10 sell
their crops early IN the season in order
10 obtain money wherewith TO meet
their maturing obligations. Thus many
OF the whoai-growers find themselves
absolutely at the mercy OF the buyers, both
a. regards price and also TO no small extent
as r, CARDS the matter OF grades. Money
they must have, and they have no time 10
wait and argue the matter. But TINS year
they find themselves between the deyii ana
the deep sea. On the one hand they ma
their creditors waiting for their pay, while
on the other they realize that 10 sen al tue
present low prices means mel prOlts by lir
TOO small TO meet their liabilities. In the'r
quandary they have gone to their creditors
and laid the case before them. The iattcr'
particularly the keepers oi Seiici" sV"i0
know full well that the bankruptcy oil
the farmer means inevitably like disaster
10 themselves. Hence many OF item are
showing a disposition 10 grant all the t'uIe
possible. The effect OF this Is already eVi'
dent In the marked falling OIL IN the re-
CENTS of wheat at Minneapolis. As CON-
pared with year ago, the decline Is very
large. How long this will last IL is hard 10
say: but il is evident that there Is grow
ing feeling among the buyers that IN or
der 10 draw out the wheat better prices
must be offered. The two cents advance
made by the Miller's Association the other
dsy has had but little effect Thus lar.
This Is the situation rs 1t appears to-uay.
What Il viii he a week hence is one oil those
things .no fellow can lind out" For one
OF the most uncertain Of all uncertainties
IA the wheat market.