Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-06-24
The Wheat-Crop-The Prospects Of the
Market.

The farmers of this country, says the
Leesburg Washingtonian, and we would
not be singular if we should say, all the
business interests of each section are
watching with peculiar anxiety the result
of the growing wheat-cfop, and the prices
which will control the market in the sale
Of the grain outcome Of the approaching
harvest, The bear interest is doing all
that mortals can to reduce the price and
| force the sale of the next crop to start at a
low figure, and contracted currency is
largely aiding them in accomplishing their
| purpose The bulls are at work to hold
the prices up, but have not been able to dc
SO, although the official and most reliable
reports from Europe slow there will be
decided shortage of production Of grain
there, and in this country the indications
are there will not be full average. The
Financier Of New York gives the following
article, interesting to the country, as show
| ing the condition of Cur crop and indi-
eating the probable state of the markets
NEW I ORky JuH6 u lOJ1.
WHEAT-Late Paris cables indicate that
| official estimates will show that France
" i'll grow but 2-3 of au average crop--their
average crop in the past five years was
3O3a millions; their average imports for
| the same time were about 40 million
bushels. This indicates that their imports
! for the coming crop-year must be about 140
millions of bushels. A late Paris cable
| says the Exchange estimates the French
crop shortage will be equal to 2,000, 600
bushels this year. Great Britain has i'm
ported on al average the past five years OF
wheat and flour equal to about 145. 500, 600
bushels, and has grown, during same five
years, an average of about "a, 500, 600. H.
dicatioDs point to a poor crop with them
| lit has always been SO When France grew
short crop ard their import wants for
the coming crop-year now appear TO de.
mand 155, 900, 900 bushels. The United
Kingdom secured for the crop-year ending
Aug. 81, $780, from Russia 100000
bushels, India IS millions, Roumania 5
millions, Aus;ro- Hungary, Chilli, Austral-
asia, Argentine Republic and other coun-
tries about Is millions, and from Atlantic
and Pacific ports rs millions, OR about one
half of her needs.
Indications are that about the same sup
plies are being and will be given her for the
year ending August 31ss, and that all
other countries, save our own, must ma
terially reduce their supplies and also for
France. Extreme estimates are made that
Europe's wheat-crop will be nearly $780,
| 900, 900 bushels short Of last year, with
rye.crop deficient in proportion. Many
countries are agitating famine plaus; the
reduction of duties where they have not
been taken off and in every way urging i'm
mediate action to prevent starvation prices
staring them in the face, as the harvest
fields each week present moro forlorn ap
pearsnce. The stocks of old wheat, rye
and other food products are reported unu-
sually light, with season late. With Us
supplies are light. Exports the past sixty
days have been equal to average for the
same time for the past decade. European
and Pacific coast prices are from % to 40
cents higher per bushei than q year ago.
Chicago prices for July about 8 cents per
bushel above those of a year ago. Stocks
there are but three fourths those of year
ago, and promise to be not over third
those July 1st az compared with last July.
We think the crop conditions show a loss in
the aggregate yield since May 1st equal to
per cent, on account of drought and
insect troubles to the growing crop.