Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1881-08-19
The Boom in Breadstuffs.

The Baltimore Gdzette, of Monday last
says: "On Saturday the wheat market was
considerably excited and prices advanced Il
cents per bushel on the announcement of
further advance in Europe, which was in
sympathy with the recent sharp upward
movement in this country The Chicago
corner in produce, which is said to he con-
trolled by Cincinnati capitalists, shows no
symptoms of weakness, and $1.50 per BUSH
el for wheat is freely spoken OF. How high
they propose 10 force prices remains to be
seen, but 1t is probable that the present fig
ures will induce farmers to ship more liber-
ally than they have been doing, in which
case the large receipts might have a te nden-
cy TO cause break in the market, but parties
who profess 10 be well posted do not look
for any materially lower figures for some
weeks 10 come. The advance In corn, which
has been even more pronounced than that
in wheat is result OF discouraging reports
from the great corn-growing States of con-
tinued hot and dry weather, which must
cause very large reduction in the supply.
The total advance for the week has amount
ed to 3 cents per bushcl for immediate deliv-
cry, while the advance in options has been
even greater. AS natural sequence to the
higher prices for wheat there has been
sharp advance in flour, nearly all descrip-
tons having shown an advance of from Is
10 so cents per barrel. 1t would seem that
such an improvement in prices must invite
more liberal shipments, but during the past
week buyers have found il very difficult TO
get their orders filed, especially those who
desired large lots for shipment, and millcrs
at present decline IN enter into new con
tracts. Grades which could be bought n
week or so age at $5.75 per barrel are now
readily taken at $3.50, and even at that fig
urc enough cannot be found u supply the
demand The upward movement has Of
course, been largely the result of specua-
ton, but all buying interests have been
pretty well represented in each days trans
actions"
The same journal in Wednesdays issue
again says: "'rhc grain market yesterday
was evidently affected by the dscouraging
news regarding the critical condition Of the
President, and prices were unsettled though
trading was fairly active. On change in
the morning wheat was easy and lower,
while corn was quiet but fairly steady; but
in the afternoon a decidedly weaker feeling
was developed, and a more pronounced de
cline was recorded Wheat sold at the close
at 1880 1884, loss Of about l cent per
bushel on the days transactions, and corn
was also lower, but the decline was much
smaller, and mt the close fair show of
strength was made"
The latest reports from the Baltimore mar
kets up TO the tine OF going W press give
the following quotations: On wednesday
morning the decline Of Tuesday afternoon
was fully recovered and in the afternoon the
highest figures Of the season were touched.
The total improvement was over 2 cents a
bushel on all deals of both wheat and corn,
the market closing up quite strong at $l36t
01 .36f for August delivery Of wheat, $l.37t
for September, $1.40t for October, and $1.42
@1.424 for November. Corn closed at 6St
@68f cents for immediate delivery, 20 cents
for September and 70 cents for October.