The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1897-11-12
WEEKLY MARKET LETTER.

Board Of Trade Brokers. 7fi-714 Chamber Of Com
merce Building, Portland, oregon.l
In describing the local conditions of
the Chicago wheat market for Decem-
ber delivery it is simply a matter of
opinion whether to assert the market
is manipulated or not. The latter
supposition is the more reasonable.
Stocks of contract wheat have been ex-
hausted by the unprecedented export
and interior demand. High values OBJ
tanning have induced speculative short
sales, with the resulting condition of
constantly oversold and congested mar
ket. Granting all of which to be true.
the general conditions which ordinarily
control values are SO extremely favor
able to high prices that it is matter
of great doubt as to whether specula-
tion has played any important part in
advancing and maintaining values.
Export clearances of wheat and -four
for the week have been large. The ex.
port demand continues urgent and
promises to increase rather than di-
minish. Stocks at market centers
show but small increase for the season
compared with previous years, al
though the forward movement of the
crop has been unusually large. Receipts
at primary points are beginning to fall
of, and it is becoming more and more
apparent that the spring crop of the
Northwest has been over-estimated.
The continued drought assures only
moderate acreage seeded to winter
wheat, and that under favorable condi-
tions. Crop advices from Argentine
continue conflicting and contradictory.
Advices from Australia assert that
their crop will be below an average and
give no surplus for export. France
continues to buy wheat freely. From
all reports, public and private, it is
certainty that European stocks are un-
usually small and European require
ments abnormally large. The prospect
for the immediate future seems to fully
warrant present values for wheat, and
should any disaster overtake the Argen-
tine crop it is probable that they will
be fully maintained if not materially
advanced during the balance of our crop
year.
The situation regarding corn values
shows decided improvement during
the week, although still possessing ele-
ments of radical weakness. Stocks, al
ready larger than ever before recorded,
show no immediate signs of decreasing.
On the other hand, the cash demand,
both for home consumption and ex-
port, shows gratifying increase. VAL
ues are now 15 cents per bushel below
an average for the last ten years, and
the new crop is certainly below an av-
erage in yield. There is little to war
rant decline in supplies.
Portland Market.
Wheat-Walla Walla, 75@ 76c; VAL
ley and Bluestem, 77@78c per bushel.
Four-Best grades, $4.00; graham,
So. 70; superfne, So 40 per barrel.
Oats-Choice white, 83 @ SAC; choice
gray, 31@32c per bushel.
Barley-Feed barley, $4,000; brew
ing, $40 per ton.
Millstiffs-Bran, $14 per ton; mid
dlings, $21; shorts, $3.50.
Hay-Timothy. $12@1s.5o; clover,
$1O@11; California wheat, $40; do
OaC, S41S OIcSOA WAlu nay, pSW1 1O pST
ton.
Eggs-22K@25c per dozen.
Butter-Fancy creamery, 45@5Oc;
fair to good, s5@4oc; dairy, 25@35c
per roll.
Cheese - Oregon, 11kc; Young
America, 1910; California, 9@1oc
per pound.
Poultry-Chickens, mixed, $4,000
800 per DOZEN; broilers, $2.00@2. so;
geese, S.. ducks, $3.00@4.OO
per dozen; turkeys, live, 10c per
pound.
Potatoes-Oregon Burbanks, 35@40c
per sack; sweets, $1.40 per GENITAL.
Onions-Oregon, new. red, 9oc; yell
low, SOC per GENITAL.
Hops-8@13c per pound for new
crop; 1895 crop, 6@7o.
Wool-Valley, 14@16c per pound;
Eastern Oregon, 7@l2c; nohair, 20
@22c per pound.
Mutton-Gross, best sheep, wethers
and ewes, 81. 50@2. 60; dressed mutton,
DC; spring lambs, 51ac per pound.
Hogs-Gross, choice heavy, 81. so;
light and feeders, $3.Oo@4.0o; dressed,
81. 4.50@5.00 per 100 pounds.
Beef-Gross, top steers, $2.75@3.00;
cows. 81. 25; dressed beef, 4@51ac per
pound.
veal-Large, ~ &c; small, 5k@
&c per pound.
Seattle Market.