The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1886-12-16
The Rise in the Price Of Wheat.

The steady Use in the price OF wheat
during The last few weeks is caused main
ly by the large demand in Europe 1t is
not due to any spurts or spasmodic move
ments from European war reports. but to
a scarcity from the exhaustion of former
large supplies, and as The rise is gradual,
those who have their grain on hand may
reasonably look for still farther rise TN
til wheat has reached it's usual value The
Commercial Editor of the New York Star
in commenting on this movement in wheat
says
1t is gratifying to note that the whole
improvement originated ON the other side
from a good, legitimate trade for actual
consumption, and was brought about by
rapidly decreased stock, gradual reduc
tion in quantity on passage from all
quarters to Europe excepting from this
coast; the shipments from India having
dropped off materially, which was. to some
extent. attributable to the recent rise in
silver in London. Stocks of wheat and
flour in English markets have beenallowed
to run down until they are now estimated
at less than one half what they were at the
same time last year.
the imports of Foreign wheat into the
United Kingdom last week were approx
mately 100000 bushels below their usual
weekly requirements. That they must
have considerable quantity of wheat to
meet their urgent wants is very plain, and
that they can scarcely get sufficient in time
to be of much help to them from anywhere
excepting this coast is also clear 1t is
therefore. not at all surprising that values
are advancing witha more active business
The beginning of the up turn here found
several OF the big Chicago operators heavi-
ly short besides many of the leading mil
lers at the Northwest. hence for a time
the New York markets was obliged to
leave the way on the long side, in the face
of strong opposition from the West and she
rise would. probably, have been far more
rapid early in the week but for this. In
fact. all things considered, it Is somewhat
remarkable hat prices have not gone
higher than they did. the total advance for
the week -ieing less than 5 cents, despite
the best export Inquiry known in years and
the most brisk speculative trading seen
for a long While. The receipts ut primary
points have been steadily decreasing,
especially at Minneapolis, and il the export
clearances prove anything like us heavy rs
expected next week. a decided reduction
in the visible supply may reasonably be
anticipated which would OF course. add
to the huayancy. However. notwith- |
standing all the complaints ',hont dizziness,
the clearaGces of wheat thur incluled)
from the Atlantic coast have averaged a
little over two million bushels per week
for the past month or more, which is about !
double the quantity exported for the same
period Year ago Should The outward |
movement of wheat and hourproye to be any
thing like as large AS now seems probable |
it would no doubt serve to create renewed |
life and vige in all quarters For after |
all is said aud d, ne. HE aatlia aid lasting |
prosperity u tie country comes at the |
start from the soil Let US hope that prices |
will not be advanced so rapidly as to check |
the demand