Year: 1867




farmers in regard to the course the wheat
market is likely to take. Some, having in
mind the good prices paid last fall, and the
high prices paid this spring, are looking for
very high prices for the present crop while
others, led by the current newspaper reports
to believe the crop to be an enormous Ooe,
may be induced TO sell their wheat for less
than its value.


There are two leading courses open, in buy
ing, to the large dealers and spectators. One
is that followed last year I; which, in brief was
to buy up, and get control of all the good
wheat, and then control the market so as to
force up flour to very high rates. The other
is to hold back until farmers are induced or
forced to bring forward their wheat, and sell
for very moderate rates.


l. In order to induce farmers generally to
sell, so that the price of -four may be control
led, a liberal price must be paid. There can
be no doubt that in the autum of 1866, at
least fifty cents bushel more, on an average,
was paid in order to bring out the wheat, than
it would otherwise have commanded. And
there can be little doubt that the dealers
made by so doing. Now, when dealers are
disposed to take this course, few farmers will
fail to see that it is clearly for their interest
to meet them in liberal spirit. In no other
way alC lucy lIASLJ u get SO MUCH LOT wheat.
True, many may think they cannot tell when
this is probably the case But, believe,
they will not 90 very greatly amiss, if they arc
governed by the following rule If good amber
aud red wheat, east of Lake Erie, and white
wheat east of Chicago, sells for much more
than 81 per bushel, then farmers may under
stand that buyers are disposed to try the
course taken last fall. They probably can,
and, perhaps, will do as we'll to sell for an
average of 81 25, or thereabouts, a bushel-
1t should be remembered that the crop is too
large to admit of forcing prices up to from
81 90 to So bushel, and that if farmers hold
on for high prices that may prevail, when
wheat is in the dealers hands, they will be
very likely to defeat the object in view For
wheat must be very generally sold before
dealers can control the market so as to raise
prices; and to hold for this rise is the very
way to prevent its taking place Hence,
when dealers take this course, the farmers
only way to profit by it is to meet tie buyer
in liberal spirit, and, when good price is
offered, take it.


:. But If the other course is taken-ifthe
price is brought down to considerably less
than S2-then there are several Important
points to be taken into account, in deciding
when to sell. The cost of production is one





selling in England for from 81 81 to So I5a
bushel, in our currency, and that it can be
exported at profit at these prices. Now as
long as this is the case, it ought not to be,
and probably will not be, any lower here
True, 1t Is not time yet to tell how the harvest
will turn out in Europe, and what the price
of wheat is going to be. But the unsettled
state OF the continent, do not indicate very
low prices. But to take more c0mprchen~
sive view: A late London writer states that
-"cfthe present population of Europe, which
is 1000, 600, about 150,000,0 600 are con-
sumers Of wheat, using annually upwards of
lOO,OOO,OOO quartCrs.or ,OOO0 900 bush.
els. This mass of people may be considered
to press always upon the means of subsistence
or supply Of food, since there is no instance
within the memory Of man of any large ac-
emulation of wheat for want of BUYERS
or consumers" AS there is thus never any
considerable surplus, aud, according to all
accounts, European markets are now usually
bare, there is good reason to expect good
prices abroad. And the fact that all is sure
to be wanted, shows that if prices come down,
farmers generally have only to hold on to
their wheat to force them up again.


Another point is the comparatively small
amount of the finer kinds of winter wheat
now grown. rev consider the great change
during the last twelve or fifteen years in the
relative amount of winter and spring wheat
grown in this country. White winter wheat
formerly made up the great bulk of the crop
grown for market. Now it forms but small
part; and the good amber and red wheat in
tended for market, cannot be e-half, and
probably is not over one-third the amount of
spring wheat grown for sale. The effect of
this change is not left to conjecture the great
variation in the price of -four tells the story.
There is a large class of consumers who will
have the best, no matter what the price is,
and the small amount of white wheat and of
the best and brightest amber and red wheat,
which are generally ground, and branded and
sold for white wheat -four, will necessarily
keep the best winter wheat comparatively
much higher than it ever was before.-CaI
tiUGtOr.