Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1886-11-24
European Wheat Requirements = Future
Prices.


The old English sayings "Winds veering
with sun" in summer make fine crops of
wheat, and ''Winds veering against sum-
cause the reverse, were realized the first in
1884 and 1885, when there were good crops
in Europe bordering on the Atlantic Ocean:
and the latter in 1886 in the same countries
when there was much rain with the
"Winds veering against sun" during July,
August and September of this year. The
yield Of the last harvest in quality and
quantity was much inferior to the two pre-
oeding years.
EThe worlds bread-supply for the coming
year is engaging large share Of attention
at this time, especially in the countries
having surplus to sell. and in those which
have to buy. Spectators are busy along
with economists in making Investigations
and arriving at the probable results Of de-
mand and the resources of supply. There
is gene raj concurrence of opinion that the
demand in Europe will be greater this year
than for several years previously with di-
minished resources on the continent to
meet it.
The depressing influences which affected
so much the surplus of the United States
during the two past years will not exist
when the surplus of this year shall be sup
plying the wants of consumers. That the
producer might have the benefit of the
change should be chief desire, and the
time of the reaction which should enure to
their advantage is more or less in their own
hands to determine. That the change will
come, there can be no question, and fortu-
nate will the farmer be, who has his crop in
his gamers. In connection with this view
Of the question, let the following figures
be considered =
The imports into the countries on the
continent buying bread-supplies in 1898
were larger than the real necessity de-
manded. In England and Franco alone
they were 217 100000. For the same time
the exports of the United States were 1885,
600, 900, the largest ever made from this
country in one year-this, too, in connection
with the growing ratio of British India in
sending forward the annually increasing
surplus of that country. The result was
that there were more than ample supplies
when added to the fine crops of 1875
produced on the continent. In 1886 it was
Il N
quantity and quality on the continent. and
the exports Of the United States running
down in 1886 to only 97,000,0 900 has re-
duced the store-houses in Europe to a low
margin. Three hundred millions Of bushels
of wheat and wheat-four are now required
from what may be termed an available sup
ply that does not exceed 200, 100000 bush
els Between the necessity on one hand
and the sources of supply on the other, the
future has to deal. Scarcity makes high
prices. That will come to pass, and who
ever shall have bread and brcad-supplies
for sale will leap the profit deficiency
naturally produces.
During the last three months oonpila-
tions of facts sustaining the views here pre-
sented have been often furnished through
the columns Of the SPECTATOR, and il
every issue similar data could be renewed
One Of chief significance in the premises is
recent review Of the whole question OF
European requirements and tho future Of
prices, made by a large grain-dsaler of this
country, and published in the NeaO Iorh
Journal of Commerce, which closes as fol
lows -
ssThere cannot be doubt that the crops
of Europe for wheat this season, harvest OF
1886, are short, and the demand must soon
advance wheat in spite of large stocks in
this country, as the United States crop Of
1886 is 455, 900, 000 bushels of wheat, and we
have shipped in three months to October 1,
Al, 900, 000 bushels of wheat and wheat
flour, and We cannot ship more than we did
for the year ending July l, 1885. l think
we cannot ship from October l, 1886, tc
July 1, 1887, over 80, 600, 900 bushels, which
would make the shipment for the year end.
ing July l, 1887, 1S3,000,000 bushels OF
wheat and wheat -four"
The accounts from the West and North.
western States show disposition ON ths
part of producers to hurry forward then
crops. In many sections, the farmers are
reported in great need of mony, and cannot
hold back for the coming change in prices,
| This is not the case in the sections OF coun
try which have, as our Valley has, other
products than grain from which money-in-
come is derived. We had q most bountiful
yield of wheat, and in nine cases out Of ter
the crop is in first hands. If they can hold
on, the prospect is not as gloomy in the
future as the present low quotations would
seem to indicate.
| Own OF THE WoPaT SIGNa Wa acree