The record-union., 1892-05-13
COMMERCIAL.
The Past Week Brings About
Change in Crop Prospects.
Thousands of Acres Which We're
Thought Only Fit for Hay viii be
Allowed to stand for Grain.
Especial Commercial Corresnondenca If the


SAN Francisco. Mav7o 1909
CRoPS-During the last week a very rem Rrlx-
able change has come upon our crop pros
poets, and its full extent cannot as vet be def
nitely ascertained. 1t is almost unprecedented
10 nave such heavy rainfall in the month of
May particularly, extending as it has through
the interior valleys and being heaviest where
III Is usually lghtest on the west side of the
oah Joaquin and in Fresno and Tulare and
heFh' In the Sacramento Valley it was not
required, for slight showers and cool, ripening
weather would have assured more than an
average crop. But all along the San Joaquin
The prospect was doubtful, and even now the
rains VIII not effect the stand of grain nor the
Size OF the heads. Each berry is formed and
no new ones will appear but it gives strength
TO the growth and thousands OF acres that
must have been cut for hay may now be al
lowed TO ripen and make very fair grain. The
same is the case through Salinas Valley below
Gonzales and many parts of the southern and
coast counties. Barley particularly will yield
Better. Our great danger now is from few
severely hot days and north winds. It is a
critical period-the grain is Sin the milk
and can easily be cooked" and the berry
shrink very much. Our season is three to
Tour weeks later than usual, and it will be
June before this danger is past. We will be
hopeful and trust that we may have a favor
able ripening season, in which case California
win have full average crop, better even than
that OF last year as it looks now.
WHEAT-Ought to yield the producer good
values. The supplies of the world are not
large. Our own stock on hand has seldom
been smaller From the latest reports TO the
Agricultural Bureau al Washington there has
been an improvement of nearly three per
cent. in May over April in the States east of
the Rocky Mountains, but the season has
been cold and wet and the growth much re-
tarded, but the general prospect is not up to
the average of former years. Reports from
Europe are not at all definite as yet, During
the past few days there has been slightly
better inquiry for cargoes of Wheat prin-
cipal!y from English buyers, and sales have
been made at 36s Sd and holders are asking
37s firm. The inquiry from France has been
confined to cargoes nearly due as it is ex-
pected that the duty which was reduced last
year about 40 per cent. will be restored on
June LIST, and they are not much disposed 10
operate beyond that The critical period for
English and Continental crops has hardly ar
rived. AS soon as a weather market begins
should the weather be unfavorable to growing
crops, there will be an active demand for our
Wheat. With present figures of 36s Cd to 37s
Tor August-September loading and the going
rates for charter for these months, viz, 2Ss cd
10 Bis Sd per ton, the relative price here will
be 81 -421a to 81 AS. Above figures for Wheat
are comparatively low, any improvement
would give us better prices here for our crop,
and these are the points of greatest interest to
our readers. Speculation is dormant The
principal field for operators has for ten years
past been the "Call Board" Usually at this
season OF the year the transactions have been
heavy and N I,r1x-i
carried on. The buyer has always sought the
"tuture," or class of contract that would give
him the longest time to expect a rise, even
though he paid high premium for it; hence
buyer 1892" would now be the favorite
option, giving the buyer till 31st of Deem
Der next TO take the wheat. But the Directors
of the Produce Exchange have an idea that if
wheat were sold for each month in the wear
giving the seller the privilege of delivering
the wheat any day he pleases in the month
specthed), it would greatly increase the
activity and magnitude of the business, and
they hare therefore ruled out all BUYERS,
options extending beyond particular month.
The new rule is not popular, hardly any busi-
ness has thus far been transacted. on the 3lst
instant all contracts OF the past crop mature,
and the speculative market has come almost
to perfect standstill. Some sales have been
made for 'seller 1892" and the past few
days transactions were made for buyer Sep
TENDER, and the quotations may to certain
extent show the views of spectators as to
future prices. Seller 1892 ranged from
81 Az to 81 4112 during tie past few days,
and for buyer September 81 4315@1 "a was
paid.
BARLEY-Shows no special feature ofinter-
est. Stocks are not as large as usual after a
large harvest year. The rains will help out
Ip.,,-I
probable we shall have about as good a crop
as last year. n few weeks ago spectators
were sanguine of a very heavy supply and
there were sellers of No. Feed for delivery
during the present year at SG@S915c, but be-
fore the rains came the doubtful prospect had
brought the price of Seller 1892 Barley new
up 10 the ruling prices for spot Barley say
81 o21a@l o3, and even since the rains the
price has been well sustained at SI@l OO%.
although transactions are quite limited.
BAGS-Which are usually extremely sensI-
tive TO every favorable or unfavorable crop
prospect at this particular season of the year
have shown no material fluctuations the past
week. If the farmers hope for large Yields
they have not thus far shown their confidence
by providing sacks. and the supply in sight is
really very moderate and strong holders could
easily control stocks and advance prices. as
they so frequently have attempted to do in
past years. But as those pools were never
very profitable in the end there does not seem
to be anybody anxious TO make a combine
ton this season and prices are left TO follow
the natural demand. Calcuttas and Oakland
Jute Mills can be had at nc spot, 7sc for June
and July delivery, but holders are tirmer and
not at all disposed to press sales.
FRUITS Opinions differ greatly . to the
fruit crops of the Eastern States, but after
81 IL.
TO believe there win be good demand for our
California products. From latest advices ii
would appear that heavy spring rains frosty
weather and late snowstorms have done a
great deal of damage in many Eastern States.
and the crop will be lighter than reported
Delaware and Maryland have favorable out
look for Peaches-not so bountlful crops as
last year, but fair average of years past
Western States are likely to be lighter than OF
late years. Texas viii have only a small crop
Thus far there have been none of the indica-
lions here of an active demand from Eastern
buyers that were prominent in 1890, when
Eastern dealers came here and bought entire
orchards rs they stood on the trees. Our
crops look We'll especially Peaches; but Pears
and Cherries are light. Apricots are very ir-
regular, showing good prospects in certain
localities and very light in others: and, taken
rs an entire crop, Apricots are not likely 10
yield as well as last year. Prunes also vary
much, according TO locality. and almost
everywhere the crop is light; but, as there is q
very large increase of acreage, the total supply
may be nearly or quite equal to last year
Our market is well cleaned up of Dried
Fruits, and hardly enough left To ill a decent
sized order of any one variety. II is difficult
TO fnd any engagements for new crop. Moth
Ing done in Peaches or Prunes, but there are
Inquiries for Apricots, and $4,000 is bid for
choice.