THE WHEAT MARKET
The following 1b taken from the Oom~ maroiil report of tho Melbourne ''Argus'* of 14th Aaguat :—• Aooordlnsf to Professor Thorold Rogers three hundred years ago the average yield of wheat la England for a aeries of yeara wai about 15 bushels per acre, at the onmmenooraent of the Ust century It was 20 bushels, it Is now 30 bushelß from whlob it appears thai with proper cultivation and rotation, even wheat doei not exhiust the land. Reverting to the harveit, the yield oompsrad with requirements Is »s follows :— Bushels, ; Requirements of 38 millions of people at 565 bushels per bead „ 214,700.000 Seed— 2,7oo,ooo aores at wo bußhels .. »• 5,400,000 L. 220,100^000 ! «eld 80,000,000 To be imported .. .. 140,100,000 Amenoan surplus .. 165,000,000 The outlook for the harveat year 1889- --} 90 is now certain. There la an overplna of wheat of good quality, and there ia every reason to expeot that prices will be a* low as over they were, Th»a will mean, as In the Brat half of 1888, 3a 3d to 3a 4d f o b,, aa the shipping price of Australian wheat — if the hat vest la a large one — and Uilb consideration will exorcise a largo ii fiuenca upou our market for tho rest of the current year.
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