The San Francisco call., 1897-08-19

SAN FRANCISCO, Aug. 1S, 1897.
The following resume Of the wheat market is
furnished by K. A. Bresse Produce Exchange
grsinbroker, 4l2 Pine street:
San Francisco.
Gals A. NJ SESSION.
Eastern markets in wheat excited Local market
strong. December. 81 537s@1 Sd, closed at
81 69s4 May, 81 53s4 There is strong under
tone. Market looks higher.
1915 A. NJ. SESSION
Chicago wheat market advancing rapidly on
higher Paris cables Local shorts getting nervous.
December wheat opened at 81 547s closed at
ST. 54s4 May 81 81 Decemb,r barley 941bc.
Wheat looks higher.
l1:15 A. SESSION.
Wheat strong and excited A phenomenal ad-
vance in the Chicago market is causing very
wheat opened at 81 $685., advanced to 81 So
closed at 81 5534 L, cen Der barley, 94s4@95c.
There seems TO be a strong uudertone o the
barley marker. The scarcity of barley abroad this
year guarantees good prices for American sup
plies. Milwaukee people giving the Chicago
10c per bushe within short time. 1t would not
be surprising to see barley on the Pacific Coast
ta<e RAPID rise IN the near future. Local crowd
is inclined to bearishness, but are playing close to
2 NJ. SESSION.
Wheat continues to show strong quotations
81 1914, where 1t closed. Good buying by brokers
identified with Oregon accounts caused the ad-
vance. Ihe undercurrent Is the strongest for
years past. Barley, 9434c.
Chicago.
Not since 1891 has wheat jumped az IL did to-
day. There appeared to be something in the air
before the opening this morning On the early
curb a prominent house was reported a heavv
huver OF wheat by private sale This cansed n
sharp reaction upon the part of shorts to cover;
9419c bid. then S4s4 @s5c for September At
the opening OF the session wheat was sought after
at S514c lique brokers sold enough to supply
the demand of shorts, and a reaction followed. On
the down grade the bears became aggressive and
sold freely. The price held steacy around S5c
until about noon, when buving by houses with
Paris connections started general scram ple to
cover. The market did not ston at eigh hs or
quarters If brokers could execute orders within
1sc Of the market they were doing the best posi-
North west crop damage continues. This news
affected Decem Der aud May futures At one time
during the early ses ,ion September wheat was l
strong buying of fay and December put tn
latter even, and May Sc over September A
short spring wheat crop scare occasioned this
change OF conditions Septem ber wheat sold at
$3.50 and closed at ss12c. December Ss3so
May 9O1Sc. showing full gain of cents over
We sterday's closing prices. There was an under
tone of strength in wheat from the early morning
upon shorts covering, but pur ely demand
Foreigners bought freely without limits 1t is
rumore1 that France has removed the duty from
wheat. If not al eady done. the time is close at
hand when it will become necessity. Cargoes OF
wheat were sold to he Continent today at 37s Cd
the highest price yet reached during the past Sly
years Outside markets were strong. ST. Louis
reported Liverpool buying in that market Kan
sas City reported the sale of 600,0 900 bushels of
wheat to Minneapolis millers, which goes TO con-
firm The immense damage to spring wheat in the
Northwest 1t may b. a question whether
America supply the demand placed upon her
this year The situation of much concern
to American producers Evidently farmers are
exceedingly wise this year. They are. so TO sneak
cornering the wheat market and the JOKE is hat
they do not know it, Receiv1ng-housss each day
send out tempting bids TO producers 70 wheat but
they invariably answered that wheat is going
up and they do not to 81 IL. This condition ia
true of every wheat-growiDg section Foreigners
must have our wheat, and producers say, PAY for
it " 1t would not take much effort 10 send SEN
tenn ber wheat TO the dollar mark. Many consery-
alive dealers predict much higher price than he
dollar mark for wheat.
America at best only spare 1890 OOo
bushels for export and indications point plainly
to 225, O00 600 being wanted from us before JuIv v
/. Where is the ezra 10000, 900 to come from ,
Cold facts are beginning 10 present themselves