Omaha daily bee., 1888-08-26
A CHAPTER ON CROPS.
Opinions Of Loading Grain Factors
on European Prospects.
SEVERAL CONFLICTING vERDlCTS
The Harvest of 1858 Considered
Curious in Many Respects.
WHEAT YIELDS SUFFICIENTLY,
But the Quality Causes Uneasiness
Among the Farmers.
PRICES STEADILY GOING UPWARD
The Expected Shortage Considered by
Many to BE Overrated-France
the Greatest Sufferer-In-
tercsting Statistics.
WHEAT YIELDS SUFFICIENTLY
But the Quality Causes Uneasiness
Among the Farmers.
PRICES STEADILY GOING UPWARD
European Crop Reports.
[Copmiaht 1888 bu James Gordon Bennett

LONDON, August 25.-TNew York Herald
Cable-Special to THE BEE. THE sudden
activity in the wheat market in the United
States centres of grain speculation has led to
general commercial inquiry as to the crop
prospects in Europe / made this morning
canvass through the various avenues of the
corn market with a view to having the above
inquiry answered. The harvest of 1888 is
generally thought one of the most curious in
the history of agriculture, and is raising
more discussions not only in Mincing Lane
but in Lombard street and Capel Court,
where the newspapers are eagerly scanned
as to the latest reports Of the weather and
crops of Europe. The general verdict seems
TO be that the year in wheat Will not be quite
30 disastrous as far as quantity goes. 1t is
the quality which is causing the farmers and
corn factors to feel uneasy.
The European wheat crop this year can not
be compared with last years, but then it
must be remembered that the harvest was
phenomenal in 1887. In 1887 the harvest was
exceptionally good, but likewise almost two
months later, so that operators will have
only eleven months to provide for difference
of -, 600, 600 bushels in the demand this year.
These figures seem to be overlooked by the
leading papers. One Of the principal grain
factors here, who wishes his name sup
pressed for speculative reasons, gave his
view of the situation as follows
1.-The wheat crop in south Russia will this
hot in
anything we have known for fourteen or If
teen years. From 33 shillings per quarter
the price has gradually gone up to 40 shillings,
at which it now remains. Californian
ports are better every day, and here likewise
prices have gained 5 shllings. However,
Russia will supply us with the greatest guam
tty, being 10 per cent more than last year"
Messrs. Hanan & Co., who are one of the
Oldest firms in the city, informed me that the
wheat crop of Great Britain was about as
poor q one as has been known this
century. The total estimated number
of bushels is about 100000, so that
we should be dependent on other countries
for about 16o, 900 900, were it not for a gain of
2O,OOO,OOO bushels in the surplus of last years
late crop, and which must be deducted from
the amount. "Of course" said Mr.. Hanan,
"these figures are estimates and may be
open to correction"
Mr.. W. ID. Barnett thinks that the wheat
crop is undoubtedly bad, and, judging by the
weather, likely to be worse. France is in
the same predicament, and in Germany al
though showing a fairly average crop, the
quality is poor Austria and Hungary
sia will beat everything. There is
an increase, however, in the average
Of 10 per cent in Great Britain, and this i'm
portant item seems to have been overlooked.
The price is not likely to move for the pres
ent, although higher prices must rule in the
long run. At the same time it has ex-
perienced considerable advance already of
about shillngs all around. l would not be
surprised il France eventually would show
at least a 10 per cent increase in her average
which Of course, would upset the bad esti
mates formed.
hear indirectly from Messrs. Sasson &
Co. that Persia intends exporting a small
quantity OF wheat, owing TO the
annument of the prohibition. gen
tleman highly connected on the Baltic
and at Mincing Lane, says that we are per
fectly independent Of the United States
owing to the excellent harvest in the colonies
and in India. Holland and Belgium are no,
quite up to the market, with deficiency OF
500, 900 bushels as compared with last year.
Another corn factor opined that the
shortage will not increase the demand, partly
owing to the excellent state of breadstuffs
Thus one may summarize the opinions OF
leading men by saying that things are not 81
bad as they seem, and while the English and
French farmers will undoubtedly have q
hard time in one respect, they will be in re
cept of higher prices for their breadstuffs.