The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1892-01-28
SPECIAL MARKET LETTER.

w. G.. Press & Co., Bankers & Commits
sion Merchants, Nos 2 and a Sherman
Street, Chicago, in their last special mar
ket letter say: The environments of the
wheat market have undergone no material
change during the past week, but there has
been more than the usual interest mani
tested in the course Of values which have
fuctuated with rapidity accompanied with
occasional exhibitions of excitement As
the true relations of supply to demand be-
comes better understood, the market finds
friends in what is termed the invester
class OF traders, who buy moderately on all
sharp declines when 80 called professionals
are undecided as to what course to pursue.
The absorbing of offerings by this class of
dealers, who do not sell out every time the
market shows signs Of weakening, has con-
tributed largely to the numerous reactions
from the depressions occasioned by heavy
short selling, aud is Of more real value as
a sustaining influence than any other purely
speculative factor The situation abroad
has encouraged the bear party TO put out
liberal lines of short wheat for il endeavor-
ing TO provide for future necessities foreign
ers have succeeded in securing more than
is requisite for immediate wants and the
surplus renders them for the moment
somewhat Independent Their require
ments for the remainder Of the cereal year
will be so great, however, that even a mod
crate decrease in the movement from ex-
porting countries will soon deplete their
stocks and compel a renewal of purchases
in American markets Beerbohm, a recog-
nized English authority, estimates that the
United States and Canada will have to be
depended upon to furnish during the re-
mainder of the season 144, ,ooo, 900 bushels
and expresses Uubt as TO their ability so
to do. His doubts are shared by many
observant dealers in America, who believe
that the remaining exportable surplus is
much less than the probable requirements
Our visible stocks have begun decreasing,
and with even the present volume of ex-
ports, will rapidly diminish il receipts do
not materially increase, Of which there are
at sent no indications, Notwithstanding
the reports OF n general improvement in
country roads
Farmers seem unwilling to accept cur
rent prices or have marketed a greater
proportion of their grain than they have
received credit for So difficult has it
become to obtain good milling wheat in
some sections of the winter wheat territory
that many mills have ceased grinding. and
No. ? red winter in our market is selling al
May prices. The growing crop having
been well protected by snow during the
recent cold weather, sustained no new
damage by freezing but from the Pacific
Coast come complaints of insufficient rain
fall and retarded seeding, which is now
five weeks late. The surplus remaining
west OF the Rocky Mountains is reported
as small, and the western seaboard markets
cannot much longer add, except in small
To tl1 90,
The corn market exhibits none of the
signs of animation which characterized it
during November and December, and has
quite generally been forsaken by specuIa-
tors, for wheat and provisions. There is.
however, an active business in the cash
property for shipment to eastern and sea
board markets, the movement south of US
being quite free. Producers are evidently
unwilling to accept present prices for more
favorable weather for shelling and better
roads Tor transportation to interior stations
fails to materially increase receipts
Dizziness has been the chief characteris-
tic OF the oat market although there have
been occasional spells Of speculative ac-
tlVty AS in corn, the major portion of
the business has been confined to purchases
and sales for eastern shipment, the demand
being excellent and the outward movement
quite large. The fluctuations have been
occasioned more by the sympathetic influ-
ence OF wheat, than by any outside news of
a bullish or bearish tenor.
Provisions have maintained their usual
independence being but slightly affected
by the rise and fall of grain There has
for some time been a speculative element
operating for an advance, which has sue
ceeded in Protltably working the market
up from several sharp declines. The task
has been rendered comparatively safe and
easy because of the attitude of the packers
who, having large quantities of manufact-
ured product in their houses, are not aversc
to an advance, and willingly afford sup
port when it is most needed Until they
finally dispose of their property it will take
Unexpectedly large supplies of hogs to
prevent recovery from any serious breaks
in the market.