New-York tribune., 1885-09-19
TIE UHEAT CROP AND FORETGN DENIM

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| TIE WHEAT CROP AND FOREIGN DEMAND
The September report Of the Agricultural
Bureau, making full allowance for the injury
to spring wheat in August, nevertheless puts
the yield for 1ssj at $4,000, 900 bushels,
only 1000, 900 bushels less than the estimate
made Il month ago. Ii appears, therefore, that
the reports 50 widely circulated have been
greatly exaggerated and that the injury sus-
tanned has been Of small consequence. With
35l 100000 bushels of new wheat. besides
l2O, 100000 bushels brought over from the
last crop year. the country has enough to feed
a population of 5S 800. 900 at the largest ratio
of consumption yet known in this country, viz,
l.. 6 bushels ptr cdpitd, and enough to SOW a
larger acreage than has ever been put into
wheat in this country, say 56,0O0.00O bushels,
and besides all this enough to send 1000, 900
bushels of wheat abroad, which is 1000 900
bushels more than foreigners were willing to
buy last year.
There has been Of late an extraordinary
effort to misrepresent the European supply, and
statistics have been twisted to that end in the
most remarkable manner. AS is usual, con-
Trajectory reports come from excellent sources,
but there is after all not much room for doubt
rs to the general resat. The British crop,
according to the latest estimates by good
authority, is supposed To amount TO ~, ,000 900
bushels, which would leave about 1lS, 900, 900
to be supplied by importation. The latest
official statement of the French crop is
2S3, 800 900 bushels. ana the Indian crop is
officially put at 25G,000,000 bushels, about
22, 900, 900 more than usual. Austria has a
considerable surplus for export which is now
being offered at very low prices to meet the
deficiencies of Germany and France, while
Indian wheat is going to Great Britain and t1
the Continent, also at very low prices, rs has
been stated, and in quantity much beyond the
shipments of last year. The consequence is
that the European markets are for the present
likely to be supplied from other sources, with
ont much Increase in the demand from the
United States. Under these circumstances it is
reasoned by many that the prevailing prices
abroad do not take into account the probable
scarcity later in the year. but are based only
upon the abundant supply now in sight. To
whatever extent this is true, it implies want
of foresight and shrewdness on the part of the
dealers in foreign markets, which, 1t must be
admitted, they have not been in the habit of
showing. Doubtless it is the fact, however,
that the foreign buyers have been so often
deceived by grossly false reports from this
country that they are at present in the mood to
pay too little attention to accounts Of injury TO
the crop or deficiency in the yield.
There is one element to be considered in
connection with this problem which seems to
be generally overlooked. The consumption in
many other countries is by no means as regular
as It is In this country. Wheat is consumed
much more largely in those countries when in
dustries are prospering, and the people are gen.
orally employed at good wages, than in times of
commercial and industrial depression. In this
country, variation exceeding about half
bushel for every inhabitant does not appear to
have occurred in the consumption during the