Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-04-29
MARKETS OF THE WEEK.
How Prices Of Farm Products Are
Now Selling.

cpcCiul " tlc AschcCtOr.
CHICAGO, April 2S.-The market
outlook as furnished by McLain Bros.
& Co., commission merchants, Rialto
building, this city, for the week end.
ing today is as follows;
While the war between Greece and
Turkey continues to be the chief factor
of q sensational character in determin-
ing the course of our wheat market, it
has not furnished all the news of a slim
ulating character, the conditions sur
rounding the crop in California having
become alarming enough to excite seri-
GUS apprehensiOns for its safety and to
cause excitement in the San Francisco
market. Until recently the promise
there has been for an abundant yield,
but drought and hot winds have already
seriously impaired the crop. and threat
en- to turn glowing prospect into a
disappointing failure. The condition
Of the winter wheat elsewhere in our
country is not promising enough to
warrant the expectation of yield large
enough to permit the trade to view an,
serious deterioration in Pacific Coast
crops with complaceEcy, even were it
unaccompanied with political news
from Europe.
There has been a manifest Effort 10y
the leaders in European financial af-
fairs to l0calize thu war in the Orient.
and they are undoubtedly eXerling
themselves, by the use Of their power
and influence, to cOntine it to its present
boundaries, but as they were powerless
to prevent the outbreak. their etfuris
may prove as inefficient in preventing
its extension.
The involving Of other nations would
he fraught with such uncertainties and
dangers that its effect on the cereal
markets would be magical; for present
and prospective supplies of wheat are
too meager to permit of any pronounced
increase in demand, or decrease in sup
plies. without stimulating an advance
in prices.
That supplies have been decreasing
for several years is eyiten ed by the
comparative statements of stocks in
Europe, America and ailoat for Europe
for several years. being now 1884, GEO ,0OC
bushels, against lS0.0t0,000 bushels one
year ago. l0S. 00O.0O bushels two year,
ago. 2l60)0.0 1000 bushels three years ago
and 224. 900, $50 bushels four years ago.
Foreigners are evidently becoming
more interested in the situation and
have bought American wheat and flour
more literally, the former bot ior
prompt shipment and for future de.
livery.
The speculative conditions environ
ing the market are of a character t IN
cite frequent and rapid price changes.
necessitating the protection of trades
with more liberal margins. The nat.
ural strength Of the situation is so en-,
couraging for holders. and the possibI.
tiles of war alarllms so imminent, that
bears have become too cautious to per.
NIT of the creation of any extensive
short interest. In consequence of such
conditions there is but little wheat for
sale when stimulating news is received
until the market is forced to a point
high enough to tempt holders to accept
profits. Whenever the news is of a
contrary character, and an attempt is
made by belated holders to unload.
there being but few shorts to accept
profits on the declines, there is but lit
tie support until the market reaches a
point low enough to induce fresh in
yestment buying.' So long as these
conditions last we look for frequent
and rapid fluctuations, which will fol-
low each other naturally without the
aid of manipulation.
The coarse grains are beginning to
show signs of renewed activity, being
affected by the revival in wheat, and by
supply and demand conditions.
The exports of corn continue liberal.
the magnitude of the movement being
evidenced by the report of the ship
ments for the month of March as com
pared with that of the corresponding
month one year ago, being this year "A :
100000 bushels, against 9,53O,000 BUSH
els in 1896. Continued rains through
out large portion of the West is caus-
ing some fear of II serious delay in
planting, and are curtailing receipts
and rendering more of the corn unfit
for present shipment. The condition
of the weather will be the most i'm
portant factor in the market for this
cereal for some time to come, as on it
depends the prospects of abundant Or
meager supplies for another year.
Oats follow corn in its fluctuations,
but may at any time assume position
of some independence on account of a
growing belief in a largely decreased
acreage.
The visible supply Of grain in the
United States and Canada shows the
following changes for the week: Wheat
decreased 778,000 bu, corn decreased
2,3SS,OOO bu and oats increased $1,000
bu.