PROSPECTS OF THE WHEAT MARKET.

Colonist, Volume XXX, Issue 5020, 1 October 1887, Page 4

PROSPECTS OF THE WHEAT MARKET.

We take the following from the London 'Miller' of August, 1 :~ " August at present appearances, bids fair to see the wheat harvest pushed forward briskly, carried on energetically, and completed rapidiy. There is little laid com, and under such suns as we have been enjoying, ifc will soon be ripe tor tbo- biokle, even in the liortben.' Conntie*. Moreover it is a growing Bi>d <k tbe whole a salutary practice to cut the "wheat under, rather than over-ripe. "We anticipate that the imports of August will, with home deliveries, enable us to come ■within 250,000 quarters., of consumptive wants, but there is not much question as to the denuded state in which"millers' and farmers' barns will be at.the end of the present cereal year.. The stocks of foreign 'wheat and flour ia twelve leading poits equalled on July 1 2,279,835 qrs, against 2,463, 917 qrs on July 1 'fast year. July wants over and above receipts may be taken to have already reduced 2,279,835 qrs to a clear 2,000,0C0 qrs so with what we have stated of August expectations, the stocks to be carried over to 1887-8 should be about 1,750----000, qrs of foreign wheat and flour, and virtually nothing of English wheat or of flour in millers' hands. The new, crop therefore will be in considerable request, and even if the yield prove larger than we look for its being it is still by no means certain that it will be exceptionally cheap. The forward offers of American uew crop at 80s,.and the low quotations for Indian and other grades to arrive in the autninn, have atlded materially to the depression pf trade.,' We... cannot h^fmmytimg ,\feirtfllo^.'.-i.prices'B6ri tbo nrst;four months of the new cereal

crop of the present season is riot likely afterthe .first, rush, to fulfil contracts fobo pushed, on the >E.uropean and Exchange^ ati^^/lp.