(Federal Australian.)

Otago Witness, Issue 1681, 9 February 1884, Page 6

(Federal Australian.)

Our approximate estimate of the present season's whaat crop in Victoria published on December 6, -was 17,900,000 bushels, and we have every reason to believe that our anticipations will be realised, though Borne of our contemporaries estimate, the yield at a much lower figure. The harvest is over in all the principal grain-growing districts, and the re- . ports respecting the returns almost without exception confirm our expectations. Yieldß averaging as high as 40 bushels are reported, and five and six bags to the acre have been quite c6mmon. It is generally admitted that a more favourable season has never been known in these districts since the agricultural settlement .commenced. 2?iom the later districts the reports are upon the whole favourable, and a fair average return may be expected. According to our own estimate, after providing for our own requirements we shall have a surplus of about 290,000 tons to dispose of Then, again, South Australia will have at least 400,000 tons of wheat available for export, and, therefore, the total from the two colonies will be close upon 700,000 tons The late harvest in the United Kingdom gave a better return than for several years past, and throughout tho continent of Europe a very fair yield was obtained ; consequently these coun tries will require to import less than usual to supply their wants. In all the principal wheatexporting countries of the world very good yields seeyua to have been obtained from the last harvest ; though in America the returns are said to be somewhat below those of the previous year. There will be as usual an enormous quantity of grain available for'export. Hitherto the American exports have governed the European wheat markets ; but this is scarcely likely to be the case this year, in view of the visible supplies . from various parts of the world. '"According to reliable official reports, in India this year there will ba available for export about 1,000,000 tons of wheat, all of which will have to find its way to the markets of Europe. The Indian shipper has, owing to the low price of labour, a better opportunity of making a large profit than the Australian or American exporter. Russia is also likely to be a very keen competitor this year, as her crop is a large one, and low rates at the shipping ports will pay the producers to their satisfaction. Some of the South American countries are also beginning to export wheat to Enrope extensively. With so many Bourees of supply at command, the United Kingdom and the other grain purchasing countries of Europe will be able to satisfy their wants upon easier terms than usual. With these prospects' before us, Australian farmers must be prepared to accept very, low rates for their grain. Prices mut+ be guided entirely by the British market, whS-fj, as we have pointed out, will this year be lupplied with enormous quantities of .wheat from various parts of the world. In ojder to be able to compete on anything like fair terms with the wheat-producers of other.countries, the wheat must be handled as cheaply as possible, aud carriage both by land and.water will have to be reduced to the lowest point that is practicable. But with every care in bringing the 1 charges to the lowest point, and though growers may be prepared to accept low rates, it is questionable whether, a market can be found this year for the whole of the surplus wheat of Australia. Should such prove to be the case, What is to be done ? is the question that naturally arises. Most farmers will want to realise upon their crops before next harvest, and many will be anxious to get rid of their grain quickly. In the past, storing wheat for any length of time has not, as a rule, proved profitable, and but few have the requisite accommodation. This year, however, circumstances are exceptional, and it is a question whether a large quantity of wheat will not have to be held over until next year. Those who are interested should, therefore, prepare themselves to face the question at once. Itmay not bo generally known that wheai may be kept in good condition for years in aifclght silos. Many yeara ago, in the old con viot times in New South Wales, large stores of grain were kept for years in silos as a provision against times of scarcity. The hint may be utilised by many that are not provided with buildings suitable for the storeage of grain, as silos can be cheaply and quickly constructed.