Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1889-02-06
Speftator
WEDNESDAY, FEBRUARY 6, 1889.
The Situation In Wheat.

information condensed 1ntO SUCH pIlei
space as that we reprod ice to-day from the
crop statistician of BradStreet's. contained
in that invaluable journal of the Goth
ultimo, upon the worlds situation in wheat.
It is one thing, and indisp snsable too, in
it's daily and weekly connections to keep
the run of the markets in our staple pro
auctions, and it is another, and the best OF
all authentic knowledge of them, to nave
the advantage of correct returns and est
mates of the annual surplus OF the chief of
all breadstuffs the world over, and this as
it relates to the surplus producing and the
purchasing countries. This full review OF
the wheat situation which cost its able and
pains taking author many days of labor
and close study, can be read in few
minutes. 1t should be preserved, and as
already remarked, the information it
furnishes is essential to those who desire to
form correct anticipatioIs as to future
prices of wheat, and, they can best do so
if their knowledge commences with accu-
rate data in relation to the supply and the
demand. With this rational and just state
nent of the premises we should prefer to
leave the reader, but unfortunately, as we
have often pointed out, the gambling pro
pensity in breadstuffs, which is SO hurtful
to our exporting interests, may again, as 1t
has often done before, confuse the situation
to the great damage of the producers as
we'll as consumers.
~ ha Iuto roo1
in September, we thought we could see
that it, as well as any cause which checked
the regular export of our surplus, would
prove hurtful in the end. We have con-
tinuously expressed that view, and now for
it's vindicatioD, can fall back on the facts
furnished by Bradstreet'S statement of the
stocks of wheat in Europe, and that the
heavy wheat importers can get along now
without the remaining surplus of our last
crop. The concluding paragraph of Brad
streets review holds out an inferential hope
of an early demand for our next crop in
Europe. We have lingering faith that,
though our British cousips are not our
most willing customers, they may yet have
to look to our &c, 500 900 bushels Of wheat
still on hand for export TIC supply part at
least of their current average demand of
1000, 900 bushels per week till August S1st,
though they now have larger stocks in
their storehouses than usual at this time of
year. If that shall prove TO he the case,
then, from March to June, wheat in Staun-
ton will be something over 81, with a firm
market; but it is a contingency, and only
that. France, which is deficient in her sup
plies, and other importing countries may
delay, all Of which will, of course, add 10
the situation as we want it TO be.
When commencing to write, it was only
for the purpose Of Introducing the article
from -BrGdStreetS which follows. 1t is the
work of a thoroughly equipped statistician,
and one of the ables5 writers in cur ooun
cry on our products OF breadstuffs and pro-
visions, and the. foreign interests which
more or less regulate their values.
ssThe final domestic wheat crop report
by the statistician of the Agricultural De-
partment is 4l5, 100000 bushels. There
were on July l, 1888, $1,000, 600 bushels
reserves, MAXI z the total supply July 1
last 470 600 900 bushels. The aggregate
may be somew bat diminished in the -four
output in Consequence of light weight and
inferior quality, especially east Of the
Rocky mountains. Exports from both
coasts July /, 1888, to date have been
about "a, 600 600 bushels wheat (aud -four
as wheat), and the total annual consump-
ton Of the country Good, reed and manu-
factures) is about 352 000 600 bushels
Allowing for only 81 500 0U0 bushels re-
serve II the country on July l, 1889 lin
Guiding 100000 bushels for California,
Oregon and " ashington), there are now
about 26,500 900 bushels remaining here,
both coasts, available for export. 1t is
worth noting that the very cheapness and
abundance of Indian corn, oats, bnckwheat
and rye, which largely take the place Of
wheat, may diminish the average per
capita consumption of wheat in the country
sufficiently to make up for tie inferior
Quality of the crop of the remaining avail
able surplus in the country east Of the
Rocky mountains. The West Indies,
South and Central America will demand a
share, leaving a comparatively small
quantity for export to Europe.
But this view does not necessarily involve
q bullish outlook. The heavy wheat i'm
porters are likely to get along fairly with
no more help from the United States than
IS indicated in Cur review above.
The cereal years of different countries
vary. That of the United Kingdom ends
August 81, and there is therefore still
rather more than seven months Of the cereal
year remaining. The estimated oonsump.
Jion of that kingdom annually for her 3d.
500, 900 of population is 208, 600, 600 to 212,-
O00 900 bushels of wheat (and -four as
wheat. The home wheat in hand nude
!iyered is about 80 100000 to $4,000, 900
bushels. The supplies through imports
and the deliveries of domestic wheat with
IN about four and one-half months have
bean upwards of 80, 900 600 bushels Of the
POS. 0O0, 600 bushels required in the year TO
end August 81 next. Besides this there is
on passage to the United Kingdom nearly
20, 900, 900 bushels, of which some portion
may be diverted to the continent. In case
there shall be none so diverted, and with
probable stocks now on hand Of about % :
900 900 bushels, in order to leave normal
stocks on hand on July l next of 16,000,-
900 bushels, further foreign wheat (and
tiouO requirements of the kingdom will be
about 60 600 600 bushels, or less than 2 000,-
900 bushels per week until August 81.
Tine French crop year ends July 81
Opinions differ as to the output OF the
whes7 crop of France in 1888. The Bhtie
tin des Hdlles' estimate is 253, $50, 962 BUSH
els. against 273, 66S, 346 bushels official
estimate The average wheat crop OF
France is about 301 100000 bushels with
average net Imports of about 40, 000 600
bushels. The French imports from Au-
gust l to December 81. 1888. have been
rather more than 10000 600 bushels -
With an average wheat crop Franco would
have TO import about 20 900 900 bushels
more from January l, 1899. TO July 81
next. The crop of 1888 government Ie-
pnrt) is about 26 000 900 bushels under
average, but French stocks are larger than
in 1888. France may have to import from
January l to July 81 at least 3d. 600, 900 TO
10 900, 600 bushels of wheat.
Switzerland, Italy, Germany, Spain,