The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-06-07
WHEAT PROSPECTS BRIGHT
Buyers From Missouri and
Texas Now in the Local
Field.
EASTERN CROPS DAMAGED.
Reason to Believe That the Euro
pean and Western Demands
VIII Be Large.

| Local grain-dealers are expecting a de-
cided activity in the wheat market in the
very near future. Their anticipations of
better times in this line of business are
based upon the shadows that usually pre-
cede the reality.
During the past few days there have
been businessfke inquiries for wheat by
the milling men in Missouri and Texas,
who rarely look this way for their supply.
As rule the millmen in Texas and Mis-
souri, receive their supply from such grain
centers as Illinois, Ohio, Indiana and Okla
homa Territory, for the reason that the
freight rates from those places are so much
lower than from other sections. Only
once, many years ago, did Texas call
upon the Pacific Coast for this class of
cereals.
The wheat crops in the Middle States
mentioned have been sadly damaged by
the cold weather, which was followed by
an excessively hot spell. This injury to
the crops caused the Southwestern mill
men to look to other fields for their sup
ply, and for some time past they have been
drawing considerable out of Oregon and
Washington.
The reason is that they got better freight
rates from the railroads running from the
extreme northwest Pacific Coast to Mis-
souri, and Texas than could be secured
from the Central and Southern Pacific.
Several months ago large wheat dealer
received an inquiry for this commodity
from Missouri in which the writer incl
IDENTIFY mentioned that he hoped to do
business on this coast before long as he
had been told that cheaper freight rates
from this section would soon go into
effect.
A few days ago came small order from
the same party for about 100 tons, or about
ten carloads, which will soon be on the
way east.
During the past few days three or four
millmen from Texas have been in this City
making inquiries for wheat, and it is said
through local dealers they are making
purchases that will soon be on their way
east by rail.
Wheat dealers, in speaking of the pros
pect of new outlet for California wheat,
say that the present dull times are about
at an end; Their argument is on these
lines: Chicago makes the wheat market
for the world and the prices set in Chicago
are generally accepted by the English
dealers. England is California's principal
market.
The present price of wheat in Chicago
and England is about 81 80 per hundred
pounds, yet in this State the price is about
80 cents The 40 cents difference lies in
the fact that all our wheat has to be sent
out in ships. At present there are few
ships available to carry California wheat
and the demand for these freight carriers
is so strong that ship-owners all over the
world will soon send their vessels to this
port
In this way will the wheat shipping
facilities be disposed of. Again, yester-
days report shows 100000 tons of old
wheat on hand, which is not excessive.
The recent large holdings all over the
world have been greatly diminished, much
having been fed to cattle on account OF
the low prices.
Argentine Republic, one of the largest
cheap producing centers, is torn to
pieces with rebeIlions, and agriculture has
been neglected. And last, but not least,
the craze for speculation in this commod-
ity has about ceased
Viewing the future from this standpoint
makes the future for California, which
grows brighter than it has been for years,
and by December better prices will be OBJ
tanned than for nearly quarter of GEN.
fury.