Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1886-12-29
The Wheat Situation.

Ab tue nOllQayS seI III, Oeciino III "nsoy
especially at Chicago, was anticipated
The ''bears" came up strong seeking to
accomplish it, but failed, and the market
has ruled firmly, and it is generally con-
ceded that the more active operations which
will commence in January will realize an
advance, owing to the increasing export
demand. Freight accommodations from
New York and Baltimore are expanding,
and the latter city is making large gains in
her foreign commerce, stimulated by her
growing receipts of wheat for export.
The dry weather during the Fall and
Winter in large sections of the West and
Northwest, has resulted in giving to corr
greater value there than it previously held
in farm and feeding economy. One hun
drea and fifty thousand head of cattle have
been driven back towards the Rocky Noun
tains to winter upon corn and corn-foragt
owing to the scarcity of hay and greer
pasturage in the sections which have suf
fered from drought. The tendency of all
this gives increasing value to wheat as the
main source for immediate money-income
and in this connection it is to be noted thai
the pressing demand for means is forcing
the surplus of wheat forward.
The ruling influence which has, and viii
continue to affect the price of wheat, is in
Europe, and to the Old World the producer
who has any to sell should keep his eye
steadily fixed. This is the privilege of the
Augusta county and Valley farmers, how
ever small their interests may appear wher
placed by the side of the prolific Western
fields The surplus of the Valley has beer
estimated. With it and after all the sur.
plus from every quarter shall be in, there
will still be large deficiency, and it is for
our producers to say when their contin-
gent shall be counted. Will it not, If de-
layed, verify the truth as it was uttered,
| "The last shall be first" Let us look
across the Atlantic at this time to note the
movements of wheat somewhat in connec-
ton with estimates previously made, and
see how the matter stands in view of the
daily process which is depicting the stocks
and the store houses in the buying coun
| tries which until recently were well-flled.
Some weeks since, it was estimated that
| Austria-Hupgary, though much less than
her quota of 1885, would this year send
forward eight million bushels of wheat
| If it has come forward to meat the demand
of the buying countries, the announcement
has not been made. The presumption u.s.
! if the surplus is there, the government viii
oppose its export in view of homs contin'
gences. The supply from Russia is turn
ing out less than previous estimates made
it. The export from that country for the
| United Kingdom is now at a standstill.-
The port Of st. Petersburg is closed by ice
and nothing will come from that quarter
before May, if there shall then be any tt
spare. AS late as December 10th. there
wasno wheat from Russia afloat for tn,
United Kingdom. Contrasting that DAFT
with the same of 1885, there was then /,
100000 bushels. The comparison of ex
port from Russia to the United Kingdom
for the eleven months of 1885 and 1886 is al
follows: In 1885 it was 30, 900, O00 bushel
against only G, 496, 900 in 1886. The falling
off is 1904 COG bushels. The quotation
at Odessa for wheat, with transportation tt
Liverpool and English ports added, is NOR
than English prices, which it is reasonable
to suppose are held down by expSrts frou
the United States. Demapg exists at tn,
| MeaItez = MIere the Russian
wheat from Odessa is taken at the advance
rate. The exports from British India arr
rapidly diminishing on the reduced amount
for that purpose as compared with late
previous years. There are only now abou
5000, 900 bushels of the final contingent e
come forward.
From this summary, compiled from the
latest and best sources of Information, oul
producers and dealers can make estimate:
for the future, and draw conclusions as te
the part the handsome surplus in the gar
ners of our Valley farmers can play in the
! game.