The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1885-06-06

Special to the Examiner
Chicago, June 5.-Wheat looks Just
as weak to-day as 1t did when July
stood at csc. The whole deal has an
unhealthy look and the bulls are
timid. Tho big bear combination,
too, has got the downward movement
under such Roadway that holders are
demoralized and few fresh traders
care TO take the %ong' side. AS the
weather improves the crop reports
grow more favorable, and the pros
poets for spring wheat are now de-
cidedly good, especially in the great
northwest region. On the other hand,
Talmadge, the Milw aukee statistician,
declares his estimate OF the entire crop
this year to be 360,OO0,000 bushels,
while Walker, of New York, only
goes him little better, putting his
| figures at 3S0,000,000 bushels. "But."
says the bears, "if these estimates are
correct, or nearly so, the surplus of
over l0O,000,OO0 bushels of old wheat,
which will be left over, added TO tho
lowest figures given makes out full
average crop after all"
ave have gone through May
without depicting western warehouses
to any appreciable extent and must
now enter June with an outlook less
encouraging than that presented Il
month ago." remarked leading deal
er tonight. "rhe prices which can
be realized at the seaboard offer no
encouragement for business in that
direction, as, even at the lowest quo
tations yet reached mere, shipments
could only be made at a serious loss
Stocks in lake ports must be reduced
before there can be my permanent
| improvement In values"
On the other hand another promi-
nent operator says; "With full ware
houses now the scarcity Of the future
is lost sight of, but the market is
already oversold and the bears are
putting their foot in it. This talk
about no foreign demand is the meresi
nonsense. Between January and
May /, official figures show that Great
Britain imported 100000 bushels Of
wheat-and wheat in the shape o
flour. OF this amount the Unitet
States furnished three-fourths."
Heavy receipts of corn, and be
lief that an endless flood is comm,
this way continue to govern the pric
of the yellow cereal. III
large arrivals of car lots causes cas-
buyers to take hold warily but the dc
mand is good and the grain brings
premium of l-2 to 3-4 cents over Jun
|, and July. Much will depend upo
f how much grain remains in the farm
q er's hands, but in any case there is II
9 such mountain of surplus overhang
/ ing the corn trade as depresses whei
i and hence bulls take hold with moi
4 confidence. High prices at the SCI
q board have in large measure cut Q
A the export demand, but II Is expecte
Il this will pick up again as soon as FRI
=. arrivals of lake shipments increa
q stocks, and exporters can again ha'
N reasonable assurance of renumerati
: returns.
!. Receipts of hogs are falling belC
lie expectations, and thus encourag
m some traders have bought the prodl
re moderately. The weakness in 81
ne rounding markets, however, coupl
ne with the heavy stocks In hand, eye
,e too great a pressure and prices b
he hard. Yet the shipping inquiry sho
n some Improvement and exports CO
tinue ON the same moderate SCI
The total exports from the first
March to date, being about equal
IL the increased packing. Prices ofp,
NO are about $3.50 lower than at this d
he a year ago,