The San Francisco call., 1897-08-11

The following resume of the wheat market is
furnished by +. A. Bresse Produce Exchange
rainbroker, 4l2 Pine street:
San Francisco
9:15 A. NJ. SESSION.
Wheat is again on the boom. Liverpool and
French markets much higher this morning
December opened at 81 4S34, advanced to 81 491a
and closed al 4S34 December barley, 931aoG
9S34c
1915 A. SESSION.
Local shorts OF disposed 10 advance prices
themselves. The market seems pretty well
filed up with small holders, who have about as
much Wheat aboard as their ship will conveniently
ctrry Shorts are aware of this condition and are
playing waiting game. Should shippers begin
TO buy, fireworks would then appear. At present
they are sailing on the other tack. December
81 4s1s, closed at 8 4s3s Nothing doing in May,
1l:15 A. SESSION.
Wheat acts heavy. Buyers are scarce Shorts
are disposed TO fight the ground anywhere rround
81 80. Freight rates are inclined to advance
December, 81 AZ 1s, closed at S. 48: Ma. 81 4S14
al 4SX; December barley, 93Tsc.
9 p. NJ SESSION.
account Of the Government report showing; De
cember, 81 4Si4@l 4S12; Decem Der barley, 93ssc
Chicago.
If there was any bearish sentiment in wheat
this morning it soon evaporated. Many of the
To- al Ialent went home yesterday afternoon short
OF wheat, thinking yesterd US advance was
brought aLout by shorts running o Liver
pool cables reported wheat 5s@34d higher This
did not scare short, m Lcn Us did Paris, which
showed an exceptionally large advance over yes
terday's close. Everybody wanted wheat this
morning fore the mand had beer satisfied
september was up to 1890, against 1890 at the
close yesterday. Uutside news WAS generally
bEllsh
Hungary advices said wheat had risen 20 cents
in the past three Gays.
Threatening weather in England caused good
buying for English account. kaus in the North
west were, it Is claimed doing much damage The
greatest sire was laid III on French conditions.
trenchmen continue 10 buy regardless of price.
AS Chicago is the cheapest wheat market In
America the bulk of the buying is done here. Spot
wheat is demanding a large premium Sep
tember. 1t Is claimed by we-posted shipping
houses that there Is not over 100000 bushes Of
If receipts do not become larger soon those who
are short In septem Der wheat Will find IL hard
fill contracts when they mature.
Shipments of wheat at primary points exceeded
receipts by 300, 900 bushels TODAY.
Clearances from tidewater points amounted to
l.OOO.000 bushe s. At the rate wheat is being
consumed and shipped the visible supply will CON
tinue TO decrease TOR some time.
The government report published to-day SHOW
ing conditions of spring wheat up TO ugust
makes the average S6.07. AGAINST 81. O6 on July l,
show Ing reduction of 13.500 00U bushels since
July /. BaSlng the report ii cures of the
July statement IL would indicate crop of both
winter and sprlng wheat OF 5OU,U00.000 busne
as compared with other estimates OF 550.O00,O00.
Ola stec are not shown, but they mus be at
least 30OU0.OOO bushels less than last year at his
time. This being true the crop Is no greater than
that of 1896 and the amount to be drawn from
stocks this year will least 100 600 900 BUSH
els greater than 1895 with these. conditions 1t is
folly TO 90 for low prices until foreign countries
have once again been favored with good crops.
AT the earlies. two years must eapse before this
cnange or condition can come about