The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1896-02-20
W. G. PRESS & CO.,
6raln and Provision Commission Merchants.
Q and q Sherman st.. Chicago.
In their special market letter say:

In their special market letter say:
While our wheat market continues
to absorb the attention of large num-
ber of operators, and is still subject to
frequent sharp fluctuations, there is a
noticeable absence of the enthusiastic
buying which for some time past has
encouraged the belief in materially
higher prices in the near future, al
though there is no lack of support on
all the sharp breaks. This support is
afforded chiefly by coterie of opera
tors who are steadily pursuing the pol
icy of buying on breaks and realizing
on the first material advance. A few
prominent bears are pursuing the policy
of selling on good sharp bulges and
covering on breaks, so that between
the two factions, and such aid as the
public affords, fluctuations continue
sufficiently wide to make an active and
interesting market. The bulls continue
to place their reliance in the probable
ity of liberal exports before another
crop els harvested, the decreasing
worlds available supplies, and the de-
mand for cash wheat in winter wheat
sections; and, as many of them stand
undisturbed by the sharp reactions, on
liberal lines bought at prices below
current quotations, the covering by
shorts and a little good buying on the
breaks by bull leaders turns the mar
ket, and soon forces an advance. The
bears, while less numerous than their
opponents, are becoming more aggres-
siye than they were before the market
developed a halting tendency, and
assail it with vigor on the advances.
1xr he.
magnitude of the movement at the
portuDity for the buying of quite a
vators, the comparatively small de-
crease in our visible supply, and the
larger shipments from Argentine.
A few weeks will doubtless show what
may be expected from that country,
and determine the truth or falsity Of
the reports regarding the yield and
quality of the crop. The shipment of
wheat to our market from the North
west for the purpose of securing the
carrying charges which prices here as
sure, fully accounts for the recent cash
demand in that section, whiche was
generally credited to millers and serves
TO embolden the bears and to render
many bulls who have heretofore been
pronounced in their views less conf
dents They do not relish buying too
much wheat from men who have it to
deliver for they are sellers who do not
run in on an advance or have to liqui-
date on account of exhausted margins.
There is but little to note in the news
from abroad; foreigners buy freely of
our wheat on the breaks, but refuse to
follow us on the advances. Europe un-
doubtedly needs considerable of our
surplus, but is in position to wait rea-
sonable time between purchaser, espe-
cially when her merchants secure lib
eral quantities on our reactions. We
hear of nothing of special interest with
regard to growing crops anywhere, and
there seems to have been no marked
changes in condition at home or abroad
The trade usually pays but little atten.
tion to growing crops unless serious
damage Is threatened somewhere.
Corn and oats have fiuctuated mod
erately with wheat, and there is but
little that is new to chronicle about
either. About all we can say of then
as a speculation is that we believe they
should be bought on moderate breaks
and sold out at o fair advance unit
they begin TO develop more strength
and greater activity, when they shoulC
be bought and held.