Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1891-07-29
Tbs " eat ctcps Of the World

1he wheat CfcpD Of tns Wos'o
Mr.. Henry Clews, the New Yok
banker and financial agent. head Of The
house Of Henry Clews & Co, and gen
.Ieman having the most abundant means
Of information and regarded as trust
worthy authority, has issued Il review OF
the present condition 81 the leading
crops Of American agriculture. Thu,
report il dated July %, and the char
aeter OF the wheat market In view OF the
yield OF the present year now being har-
vested In all parts OF the world, Is thu.
given:
The character OF the wheat market has
undergone n marked change this week,
aud the logy feeling which has existed
for some time past has given way 10 q
greatly improved sentiment. and this
alteration Ia entirely due to sudden
change in the condition Of the foreign
markets, which have exhibited renewed
life and strength after a period Of dull
heaviness. There has been lively COW
ering Of short contracts and good out
side demand coming through the COM
mission houses, and although at the
highest prices, there was u good amount
Of realizing. which caused some reac-
ton, little, II any, new short interest
was accumulated, rs the trade are begin
ming TO be rather cautious on the short
side OF wheat. fearing the results OF the
very poor foreign outlook, which, In
stead Of improving, appears to be con-
tinually deteriorating. The principal
element OF strength is the reported de-
plorabe condition OF affairs in Russia !;
not only is their wheat crop largely
short. but the crop OF rye, which
probably is as important to Eu-
rope "a wheat, has also sustained
such serious damage that the yield will
he greatly reduced, and instead of hav
ing an expOrtable surplus OF about 10
million bushels. rs is usual. not much
more than half that amount can be
spared this year. The yield of the same
cereal In Germany will, according to Of
fetal reports. be about 20 per cent.
short, and u per cent. short in Hungary
Holland, France. Roumanla and Den
mark. Now this large deficiency in rye
must be made up principally by wheat,
and with the existing poor conditions
for it in Europe and the inevita' lie re-
duced yield, the prospects for very
heavy Expectations OF foreign wheat
are well based, America has already
supplied Europe with tremendous guam
titles of wheat. but our new crop will
10 all probability have to be utilized to
an even greater extent than is at pres
ent realized to supply the require
ments. An estimate comes from Lon
total yield Of wheat for the world will
be 80 million bushels short of require
ments this year. 1t gives the require
men : of all importing countries As 403,-
coo 900 bushels. and the available sur
plus of exporting countries as $50, 900,
900 bushels; the figures for each country
are given "a follows: Great Britain
crop, 90 900, 600; requires an import of
$50, 900, 900 bushels. France crop,
$40 ,0O0, 900 bushels; needs 100000, 600
bushels. Italy-reguiremeut 10, 600, 900
bushels United States-crop, 81 ,000,-
600 bushels; surplus, ia, 600, 600 bush
els. Russia--erop, lS5 100000 bushels !;
probable surplus, Gi,000.000 bushels.
India - possible export of $4,000. geo
bushels Of the 255 .000. 900 bushels har-
vested this spring. These figures can
be taken for what they are worth, but
they are evidently wrong. judging from
the fact that the estimate places the
United States crop at 5ll 900 900 bush
els, whereas it will in all probability be
20, 900, 900 bushels over that, il not more
Prospects at home offer a most remarkable
contrast to those abroad, and conditions
ATT stilA VI ifit bNebs ibCit nave btSh 'iAN
or two heavy storms West, but they were
local. and the damage is comparatively
insignificant. The new wheat is coming
forward in large quantities, and over II
per cent. OF it grades as contract
which is particularly fine showing a
to Iality. The situation at present
Is one dependent entirely upon foreign
advices. Our receipts are so heavy
that, were it not for the large exports
they would force prices lower, and il
would therefore require a continuation
of this brisk demand to offset the eilect
OF the arrivals. At the moment thu
European markets are leading ours, ant
a further improvement in prices abroad
will, of course, have its influence here
The visible supply increased this wees
Cog, 4O7 bushels. Bradstreet estimate
an increase in stocks east and west Of
the Rockies Of $50 900 bushels. and thu
amount Of wheat on passage decreased
2,7il, 600 bushels.