Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-01-14
The BreadstuGs Trade-Present and
Prospective.

strengthening one on those not yet influ-
enced by the advance. The demand has
been both export and speculative, and the
increased activity has been due, perhaps, as
much to one as the other.
Shippers have not shown any great ac-
| tivity, however, and have continued to re-
| siSt the stronger views of holders as far as
possible, and hence have done no business
which they were not obliged to, and, there
lore, they have not made speculative pur-
chaseS or for future delivery, except for
| flour. From this fact and the other, that
they have not been purchasing as much as
has gone into consumption on the other
side, our dealers anticipate a stronger de-
mand soon, and hence the Strength On their
part which has been manifested by their
persistency in their demands for better
prices, which is tersely expressed by the
trade in the words, 'the spinners will be
compelled TO our views"
This feeling is general, and confidence in
| the future of the market is so firmly es-
tablised that nothing but want Of money
Is likely to produce any reaction, and then
only temporary. This position of the mar
ket Is based wholly upon the former de-
mand from Europe, caused by the light
crops, aud the contingency of an increase
upon those requirements by reason of the
| famine in some Of the Russian provinces
and IN Bengal does not vet seem TO have
entered into the calculations of dealers as
an clement of strength. So that whatever
effect this may eventually have upon the
prices Of the food supply OF the world, is
| yet 10 be experienced. There void seem
| TO be little doubt from latest advices from
! those countries that these conditions must
soon effect European markets, am then it
/ IS inevitable that ours must be similarly in
| auenced.
Add this to our present demand and but
! one conclusion follows, and that is that
| sin higher prices must rule. The extent
| 10 which this will effect wheat depends up
| On the supply, which is larger than usual:
! and not definitely known, but there can be
! nc GO:iDt that it will be wanted at full
! prices, although there is no apprehension
that there will not be enough: and hence,
while the increased demand will Of r4-trss;:
| be largely for tilis staple, the supply will
! tOuJtlesS be suiiicients to prevent any
eventual scarcity that will force prices to an
| extreme point. But the same is not true
/ of corn, which shows a marked deficit in
| the supply, and the natural effect upon
| this product is already beginning to BC
more seIiSibly felt, ard the prospect Is that
the price viii go still higher, and scarcity
/ IOlinw increased demand even at ey-
| IRENE prices. and 81 per 6ushel is already
| confidently named as a point that is pretty
| sure TO be reached before SD inc, Indeed.
/ Il the upward oour-e Of the market for the
/ past month continues at the same rate, that
| point viii be reached before another month
! has elapsed
! Oats have also strengthened rapidly, I'M
! dera speculative demand in anticipation of
| highest prices, based upon a lighter crop.
This inturn will draw upon the corn sup
| ply TO make up the deficiency in the food
! supply for animals,
Rye and barely will also be affected by
| this avidity Of things, and they will W.
drawn upon also and diverted 20 a consid-
| cradle extent from their usual channels of
consumption te make up this deficit in sup
| ply fJr man and beast. Flour will be sub
jet to these conditions Of the wheat market
| above described, and corn meal to those of
the corn market.
Thus il appears that the whole bread
stuiis list: without an exception, is in a
stfNonS and steadily strengthening position,
with the probable contingency of new ele-
menlS Of strength sooner or later to be de-
yeIOped. To this should he added sh5rt
potato crop and n hay crop by no means
abundant. In this view there is no cause
Tor apprehension that the foreign demand
will continue inactive much longer, aud
tie anticipation of better prices is not based
upon any speculative feeling, but upon log
ical deductions from the situation in an
the markets of the werld, and we are no
doubt upon the eve Of greater activity for
home and foreign demand, and higher
prices are almost certain TO follow its de-
velOpment.
These arguments are all based upon the
present and prospecti-c foreign demand,
leaving any increase of home demand out
Of the calculation. But there is also
ground for anticipating an increase here
also, from the fact that, in addition to the
annual increase of consumption with the
increase of population and business. cur
job5eTs were almost OHt Of stock upOn tbs
opening Of the year, as all had been run
ming on low stocks since the panic, and
refTained from any purchases for fu-
ture wants until the accounts of
the old year had been closed and
settlements made. These are in progress,
and by the middle of the month will be
largely completed, when it is reasonable to
look for more active home demand for all
kinds of goods, and with limited stocks in
store here, comparatively, and limited fac
ilitieS for transportation from the interior,
the whole supply is likely to decrease for
some time to come while any material &C
emulation from now TO the opening of
navigation does not seem to be among the
probable, not TO say possible contingencies.
FrOmthe Chicago Times, Jan u.
The leading grain and produce markets
were unusually buOyant last week. The
business transacted was not much larger
than on the week preceding, but, with
scarcely an exception, the different branches
Of trade were decidedly publish" in their
tendency and condition. Hence the move
ment of prices was naturally in favor of
higher range, and though an occasional re-
action was suffered, the advance established
amounted TO sc on wheat; Age on
corn; 3dc on oats; Sc on rye: l2Ia
25c OH mess pork; 3Oa4Oc |
on lard, and small fraction on meats. The |
trading, though not particularly liberal.
was quite legitimate in its character.
Wheat, corn and some articles in the pro-
vision line were traded in rather freely by |
spectators, yet the demand from the leg1t- |
innate class. of traders was really good, and |
large amount of cash property of all |
kinds was taken for shipment. In fact, the |
export movement in grain at the present |
time is almost unprecedented for this sea-
son of the year. On Saturday prices were |
il some instances little unsettled. though |
all the markets closed steady at the follow |
ing prices:
Closing Same day |
Saturday. last wear. |
No ? spring wheat.......-S1 241 81 2OK /
~. : tol II ---.--------.-.-.- OoA SIX Il
No > oats zee. ............. y 25S /
W. : lst....ss.......--....- ~ 81
No. barley. As &C