Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-08-24
CONDITION OF WHEAT
THE TRADE HAS SHOWN NO DIMI-
MUTTON OF STRENGTH.
HOW MUCH MIL Be REQUIRED OF Us
Shortage of Fifty-one Millions of
Quarters In the Importing Conn
tries-Russia's Crop Is short-Out-
look for Higher Prices


say relative to the trade in wheat:
There has been decidedly less excite
ment in the trade during the past week.
but not much. If any, diminution OF
strength. The struggle between actual
scarcity afoat and in the hands OF the
trade here, and the abundance in
America, continues in fact; and although
buyers are slow TO make up their minds
that a higher level Of values will prob
ably be necessary TO attract adequate
supplies, sellers seem determined TO take
advantage Of the strength Of their posi-
ton everywhere, except, perhaps, in
America. Occasional periods Of weak
ness In the latter country help to Induce
the belief still held by many buyers in
Europe that the necessity. Of Immediately
turning wheat into gold in America will
cause heavy shipments as early as pos
sble, regardless of price, and that con-
sequently. II there Is to be continued
scarcity and higher prices, they will not
be witnessed before the second half OF
the season, and perhaps not even then,
II the crop in Argentina to be reaped
next December-January prove to be
large one. IL Is quite obvious that
America has greater power In fixing the
worlds price of wheat than she ever
had before, because with India practically
nOn-existent as a source OF supply, ana
with a crop in Russia acknowledged TO
be a poor one. even by the st. Peters
burg officials, the United States Will be
called upon TO supply perhaps 100000
quarters, which is a larger quantity than
that country ever shipped before. and
vi In SUNNY
if the crop this year does reach the ex-
traordinary large figure Of Go0,00,Oo0 bush
els, which Is expected by many.
WHAT WE WILL HAVE TO SUPPLY.
The following estimate Of the probable
requirements OF the various countries.
according to present crop Indications,
must be taken as. OF course, somewhat
vague; but II will servo TO show how much
Europe will be dependent upon the
United States:
Probable requirements OF importing
countries In 1898:
Quarters.
United Kingdom ....................3.OOo cO
Franco .... .................. s. COZ 900
Germany. Belgium, and Holland. 10, 10000
Italy ....... ........... .............. f,Vc,VO
Spain. Portugal, Greece, and
Egypt ....., ........ ...... ........ 2,cV.W
Switzerland ....... ........ ......... 1,75c,oo0
West Indies. China. Brazil, etc.. 4,GecOO
SundrieS ........ ...... ............... fJD,pJj
Total ........ ......... .......... 5l ,JOt.VU
Russia, with her short crop this year,
and her diminished stocks, cannot be
looked TO for more than 1iOC,c01 quart
ers; and Roumania Bulgaria, Turkey
ard servia. Will probably not be abe
TO spare moro than 100000 quarters
81
make up 1,00c 600 quarters between them
and thus give n total for these countries
Of 2c.O0O.0o0 quarters. leaving 3i,5J.00
quarters for America and Canada, unless
Argentina and Australasia be blessed
with good crops. But even in the latter
case, seeing that these latter countries
can only begin to export next January
there will not be time within the pre-
sent season for more than 100000
quarters 70 be shipped from these lati-
tudes.
The outlook therefore, is for higher
level Of prices in the ensuing season.
but whether the pressure 20 sell In
America will temporarily delay tho es-
Enlistment of this higher price remains
TO be seen.
THE EUROPEAN CROP.
We gave in the Statist a fortnight ago
BttfDDii4 tsblHtOAb u Nh' BitHthN
years European crop. We now give the
items for the various countries for the
past six years i'm quarters, '0C0' omitted:
Austria-1S97, $3.50; 1896. 4750; 1895, $3.50;
1884, $500; 1893 $500; 1892 600 quarters.
Hungary-lS6 1850; 1896. 1850; 1895,
l9050 1894, 1900; 1893, 1850; 1892 HloO
quarter
Belgium-is97, $500; 1896, 900; 1895. 300;
1894 $500; 1898. Zoo; 1922 2,650 quarters.
4
$50; 1894 45O0; 1893 425o; 1892 500 quar-
tiers.
Denmark-lss7, 500: 1896, 200; 1895. $50;
1894. 800: 1898. $50: 1892, GO quarters.
France-1S97, $500; 1896 5000; 1895. A.
300: 1894 1850; 1898. Si,76O; 1892. 1850 |
quarters.
Germany-1s97 1850; 1896. 1900; 1895
y, 500: 1894, 1850; 1898. 1900; 1899, 1850 |
quarters.
Greece-l@7. 80: 1896. $50; 1896 $50; 1884,
900; 1898, 200; 1892, 1000 quarters.
Hoiiand-lS91 100; 1896. $780, 1873, GO; 1891, |
coo: 1893, 700; 1892. 80 quarters.
Italy-1sG. 1850; 1896. 1880; 1855 1900; |
1884,. 14.75O: 1923. le 3G0 1892. 1900 quarters
Portugal-lSg7. zoo; 1896. 800; 1895, 700; |
1894. so; 1893. 7OO 1882, 800 quarters.
Roumania-lS97 5000; 1896. S,625; 1885, |
$780, 1884, $50; 1893. 1890; 1892 1900
.Russia-lsy7 $1,000; 1895 1850; 1895. Al
700: 1884. $500; 1888. 5000; 1872, S2'loO |
quarters.
Caucasus-lS97. 5000; 1896, $500; 1895, s.
eco: 1894, 1900; 1893, $3.50; 1892, $500 quar-
tiers.
servia-lss7. 1.25O; 1896, .1.750; 1875. 1,25O;
1894. coo: 1893. / 100; 1892. 1880 quarters.
Spain-lsS7. 1900; 1896 1900 1855 lScco;
1894. 1900; 1883, lO,5oo; 1892. $500 quarters.
Sweden-1s97, 500; 1896. 500; 1885, $50; 1924,
$50. 1893 450 1892, $50 quarters.
Switzerland-lS97, 500; 1886, coo; 1895, COO;
1894. ESQ., 1898, $50; 1892, 750 quarters.
Turkey (Europe)-lS97, $3.50; 1896, 5000;
1895. 400; 1894. $500; 1893, 400; 1892. 500
quarters. . 80. -o
United Kingdom-1M. 1000; 1896. 1880;
1875 475O; 1891, 400; 1893, $500; 1892, 1900
quarters.
Total for Europe-lS91. 1880; 1876, 49,
725 1895, 1860; 1894. l,25o; 1888, 1880;
1872. III $50 quarters.
sIncluding Poland and Siberia.
From this statement the following COM
no rison OF the crops, with the estimated
may be given. in quarters,
'Oo0' omitted
CROPS AND ESTIMATED CONSUME
TON IN EUROPE.
Con- Diff
Crop. sumpt'n. ferences.
Qrs Qrs. Qrs.
,oo- no 1sl $50 206.O0 ALSO
,So. ,ST 49,. ls9725 2o5.cc1 l5,275
on al I