Wichita eagle. [volume] (Wichita, Kan.) 1883-1888, 1885-10-23
PRICE OF WHEAT.

The writer's opin:on as to the probable
advance in the price of wheat has been asked
by many farmers lately, and the reply has
been that he thought it would be 81 per
bushcl by the LIST of March. The opinion =
based on the following:
The value Of wheat turns on the combined
product of Europe, Asia, Australia and
America. Tbree-fourths of our wheat il
exported in years of European scarcity, the
chief markets being England and Franco.
Russia was for long time the competitor Of
America in the wheat markets of Europe,
but determinedly English policy towards
Russia made India and Australia become
formidable rivals. The wheat of neither Of
these countries is comparable with that Of
America.
Our London dispatches yesterday thus
sums up the Mark Lane Express review Of
the grain trade during the past week:
"a majority OF the samples of the new
wheat crop are unsatisfactory. Sound
wbeats are Cd dcarer. Foreign wheats have
gradually improved and are quoted at Cd
10 Is dearer."
Sixpence is equivalent to twelve and one
half cents Of our money, and one shilling
equals twenty-five cents.
Owing to the eastern complications and
the presence of large bodies CT troops in
that quarter of the globe, there will be but
little wheat to spare from that quarter. and
the same is true Of Russia Europe, there
fore, will have to depend mainly on Austria
liza and America for her supply of bread
stuffs.
We have no data upon which to base an
estimate Of the product of Australia, neither
have we any whereby we can tell the
product of our own country this year, but
the following summary will serve TO show
that, assuming Europe to be dependent to q
large extent on this country for her supply
of wheat, she will have to offer far higher
prices than was necessary during the past
three or four years:
The average wheat acreage for eleven
years, beginning 1871. has been 28,052, 4S0
acres, and the average product in the same
years were "a, 224,7 76 bushels, or nearly 121
per acre. The largest crop on
record in these years WAS in 1880,
49S, 549, S6s bushels, and that year the price
began to decline and has so continued
through the big crops Of the subsequent
years. The crop Of 1888 was All, 1000 600
bushels.
The average amount of wheat consumed
in year by each inhrbitant is four and
two-third bushels, therefore it takes 2I2, 800,
600 bushels year to supply $1,000, 900
people. [, i. add 81, 0O0.O 900 bushels for
seed; the ba nee of The product after de
Quoting tn ,.e two amount. 29i, 100000 rs
what We can export. Nov the largest ex-
port of wheat in one year was in 1890, 1885,
s2l PA bushels.
The acreage in wheat this year we do not
know. but it probably will not
exceed $4,000, 900 acres, and at best it will
not yield over tea bashels per acre or total
of 300,000,000 bushels. The 294 ,320, 900
bushels tor consumption and seed at home
deducted from this leaves for export only
$3.50, 900 bushels, as against 1856, 321
2l4, 's3. From the inferiority of the
the crop in England, as set forth by the
Mark Lane EXPIRES review, coupled with the
fact that the bulk of the supply for Europe
must be drawn from Australia and America,
and the small amount we have for export
are the data upon which we base our opin-
ion as 10 the probable price.