PROSPECTS OF TGHE WHEAT MARKET.

Ashburton Guardian, Volume VII, Issue 1948, 19 September 1888, Page 3

PROSPECTS OF TGHE WHEAT MARKET.

(" New Zoaland Times." \ From the various accounts recoived from all parts of tho world, there may bo gathered a general improspion that the wheat market will maintain high prices ' for sotno timo to come. The reports of f the esiimatod crops id Great Britain and J: tho rost of Europe, with tho exception of S Jtussla, show that there will bo a grant deficiency. Whilo furthsr Kaßt, Egypt is f complaining tbat hor wheat crop this " season will be one of the woret for many " years. • The Russian crop, it is true, is a largo ono, but tho amount of her whoat available for export will find a ready mirket close to her very border. Great -> Britain has thorefore to look first to T Amorica for hor extra demand for wheat. From tho latest and most authentic reports from the Unitei Btatei it appears * that, although the prospects of tho present harvest are very good, there will really be but a moderate supply available for ex- • port. In that country on the Ist July last the visible supply o£ old whoat amounted to 10 647,1*0 bushels, an m- \ croaßO of 720,000 bushels as compared with the previous year, but a de- I oreaao of 6,600,000, as compared with tho f quantity on July 1, 1886. Tho total ( probable eupply available for homo needs 1 and exports on Jaly I, 1888, «ran about 440,000,000 bushels. If 340 000,000 .bushels is a fair calculation for the total wants of Amerloa, then the probab'e toUl rurplna wheat (that fs wheat and fl >ur) ! available for export will not exoood ' 110,000,000 bushola. If auch la the cane, l ' and we quote from tbe well known Bgrl- • cultural statist " Bradatreefc," America'ei ' surplus will not go fai to meet the defi- ] oienoy of Great Britain, when It fa con- J sldered that, acoordlng to our telegrams ' m yesterday'! issue of this journal, France ( alone will require an amount of wheat which will nearly absorb the whole of that Bflrplua. It will be then u?en that Great j Brlta'n will have to dopend greatly upon the extra (stares which tho Australasian oolonles can supply. Now Zoaland will ba largely drawn upon. If not too late cur farmera should plant every available aore with whoat, for wo arc persuaded that every bushel we can grow will bo wanted at remunerative prioeo, From manjr signs there is a probability of a thoroughly good season m this colony, and from tho preeeat prospects m tho Old World whoat is bound to advanoe &MU higher. By the time our wheat Is ready to be placed on tho English market the Amqrlcao surplus will have been absorbed, and then the market Is sure to be short supplied A Ithcugb we must sympathise with those countries whose harvest Is not equal to our average, we oanaot but acknowledge) that their necessity is oar opportunity for making as muoh as possible out of our abundance. It Is quite within the range of possibilities that our wheat will bpfora March nexb be worth at least from 6s to 83 per bushel. With the prospect of suoh prloea it is to be hopod that our farmers will rlsa to the (Ccailon, and strive by all means m their power to add as much as possible to the available wheat stock of the Colony. It la a matter of congratulation all round that the farming industry of this Colony thowa auoh cheering proapocte. With wheat and our dairy produoo making bigger returns, a great proportion of our long existing trade depression will pass away, and the farming Industry will no longer, be under tho old ory of "not paying."