The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1869-03-19
The Fufnra ofWhaaf.


The FutaRe Of wheat.
The future of wheat in the Chicago
market is a subject of great interest to
q very large portion Of the community.
The course Of the market during Ehe
past SIX months has been an enigma to
the great mass Of operators, ana they
feel unable to solve the question Of The
future. The price Of wheat has been
much lower than was anticipated, and
has persisted in keeping down 50 long
as to raise grave doubts of any consider.
able appreciation in quotations during
the present year. ~
The case, says The Chicago Tri5ans,
stands thus: After the extensive corner
of June last, under which the Drics Of
No. Spring advanced to S2.20 per
bushel, the market fell fat The opera
tors of that corner found themselves
loaded with wheat and knew not what
to do with it. The course Of shipment
was stopped. This derabgshent was
followed by tightening Of tue money
markets, and prices rapidly declined,
holders Of property being obliged to
realize in order to meet the pressing
calls for cash. So much wheat had
accumulated here that It was heavy
article, our elevators were nsaFlyfull On
the approach Of winter, and it became-a
question as to who should carry it The
greater part bad been Fought here at
Sl.50 to $I.6O per bushel, and holdsfs
could scarcely afford toilet It 90 for
Sl.l5 while a chance remsied 70 avoid
such heavy loss in addition to the sx-
peuse Of carrying.
Meanwhile the price Of Bheat ID the
Liverpool market had fallen &C equal
pace. The crop Of Great Britain had
been bounteous one-an exceptionfto
the rule, the root crops. Of that country
having been almost killed of By the
drouth. Then news came Of heavy
crops elsewhere, and the grain required
to supply the deficit of the British Ia
ands began TO move in freely. Iowa
prices were here, they were still too
high to admit Of profitable shipment to
New York, aud the prices there EsFS
too high to admit Of the ocean transit.
The consequence is that we have par,
tally lost the supply of the BItah
markets this year.
The wheat now held in Chicago and
New York is, SO fan, very costly article.
Bought at high prices, it has bssn car.
ned for months at a heavy charge for
interst and insurance. No wonder that
the question is one of absorbing interest
it be more dangerous 10 hold
on or let go. ~
Present indications are not IN favoF Of
higher prices. The price of the article
is again falling in Liverpool and London.
owing to the arrival Of large fleets Of
grain laden vessels from the Orient fe-
giOns. Odessa is pouring in wheat, and
.he neighboring ports are sending forth
heir grain in numerous vessels, while
'he news comes that California has 4
very large surplus crop, which she must
export, and promises to dogreatsF things
lext season. f.sr rr-slI Is ss
The only hope for higher prices lies
n that of poor crop in 1859. Hers,
gain the balance Of testimony is against
t. The weather of the winter has bean
favorable to spring sowing.
md the indications are that the greater
'ortion of the next crop will be soWn il
Asrch, which is generally looked onas
nsuring bounteous yield. The only
ind Of wheat likely to be injured by
he weather is that soWn in the fall
'ut the proportion of winter whsst il
oW very small, and grows smaller each
ear. Not a bushel of winter wheat
as been sold in our market for the past
hree months, and -four made there.
'om is drug with our dealers. The
manufacture of spring foEF has been
much improved within the past two
three years that it answers every re-
uirement
So far, then, there appears 10 be no
cry cheering prospect for the advocates
high prices. The best thing that
Olders can do is to prepare to look their
sses IN the face as gracefully as may
9, and decide to let 90, lest the chance
selling be demed N toto. The sup-
y is too abundant to admit Of a scar
ty, and sellers to the great world Of
'nsumers are too numerous to admit Of
ie holders being able to dictate in the
alters Of prices.