The Cass County Republican. [volume] (Dowagiac, Mich.) 18??-1880, 1860-09-13
From the N. Y. Courier & Enquirer.
Position and Future of Breadstuffs.

From the N. Y. Courier & Enquirer
Position and Future of Breadstuffs.
1t seems to be the prevailing opinion
among the gentlemen occupying lead
ing positions on the corn exchange,
that prices of flour, wheat and corn,
have receded to point upon which it
will be quite safe to base operations for
the season. We find that among those
most positive in taking this view, are
those who have been decided, if not
active " bears" upon the market; who
have shown no disposition to sustain
prices by holding, and a cursory review
of the posture of affairs leaves little
doubt that such is the case.
Millers throughout the country have
been forced to restrict materially their
operations in grinding, as conse-
quence of the relatively high price of
wheat as compared with -four. Wheat
under an active export demand, such
as has prevailed since the middle Of
May last, is always disproportionately
high. The miller, in purchasing wheat
has been unable to compete with the
export buyer. These circumstances
have caused steady diminution of the
stocks of -four throughout the country,
$50 that they are just how quite low.
At this market the stock has been un-
dergoing steady, but not large reduc-
tion, since the close of navigation last
fall, when it was very heavy until now
although ample, it is small The old
flours are pretty we'll closed out There
is, it is true, nothing that we can dis
cover to stimulate material advance
in -four, in the face of the high Euro
pean freights; this will serve to retard
production. 1t is therefore quite prob
able that the close of navigation will
find this port with stock of flour un-
precedentedly small, utterly precluding
a decline, in the common and medium
grades, below current figures. The
crop of Southern wheat has been light,
so that the supplies Of -four from that
quarter will be limited more es-
pecially as the relative price of wheat
in this market will check the practice
heretofore quite common, of buying
Western wheat here, shipping it South,
mixing it with Southern wheat, and re-
turning the flour which is the product
to this market as Southern flour. The
regular shipping and local trade of this
port will soon open with its usual ac-
tivity, and not cease until the close of
navigation. There can, therefore, be
no reasonable doubt of the continued
steadiness, of The flour market.
| Wheat seems to be no less secure
than -four. Prices have been reduced
to moderately low figure. There is
no sort of doubt that the British and
Continental shipping demand will in
crease rather than diminish. Three or
four millions of bushels of wheat will
be wanted to supply this demand be-
fore the first of December-a quantity
sufficient to dispose of the surplus of
receipts. We ought not to have less
than two and half millions of bush
els in store here on the first of Septem-
Der. With receipts at the rate of half
a million of bushels per week-an un-
precedentedly large average-we can
receive but seven millions of bushels
before the first of December. We es-
innate the receipts of wheat previous
to September, at little more than five
millions of bushels. The former guam
tity is greater than the whole receipts
Of wheat in 1859. We shall get moth
ing or next to nothing, from the South
upon which our millers have almost en-
tirely depended for their supplies dur
ing September and October. The
great West must respond to demands
from all quarters, and the prospect is
that her great capacity will be taxed to
the utmost for the next year. The
wheat market, therefore, appears to be
firmly established in strong position,
upon which all legitimate operations,
may rely. Of course, we speak OF
wheat of prime quality. We learn
that large proportion of the new Chi
cago wheat now on the way to this
market, is quite smutty, and such wheat
will be found quite unstable here, ex-
cept at large decline from the value
Of clean wheat, which this circumstance
will serve to enchance the more es.
peeially as this quality will not be in
due proportion to the whole crop.
Corn is not less strong than flour
and wheat, 1t must not be forgotten
that none, or at best very little of the
corn of the growth of 1850 will reach
this market this year, because it can
not be got ready for shipment In time.
The supplies from the South which
: have filed the demand for the East and
f fIlocal distillers during the fall months,
| to great extent, will be wholly want