The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1897-07-30
WEEKLY MARKET LETTER.
Downing, Hopkins & Company's Review
of Trade.

Downing, Hopkins & Company's Review
of Trade.
Legitimate laws of supply and de-
mand may at times be counterbalanced
by speculation, but they cannot always
be ignored with impunity. The ad-
vance in wheat values during the week
has been long overdue. Nominally it
has been caused by reported damages to
the Russian wheat crop. In reality it
is due to- depleted reserves and small
crops. A conservative statement of
lows: Importing countries require
100, 100000 bushels more than last
year. The only countries with exporta-
BILE surplus are America and Russia.
The latter, according to latest reports,
will have less than usual for export.
America must therefore reap the benefit
of the increased export demand. For
tunately, we have excellent crop pros
poets, promising at present the second
largest wheat crop ever produced In
this country. In this connection 1t
must be borne in mind that our reserves
are practically exhausted, and if they
are to be replenished from the coming
crop our exportable surplus will not
900 bushels. Importers are waking up
to the situation, and they have been
large and persistent buyers of wheat in
our markets during the week. The re-
sulting advance, while large and rapid,
is more than fully warranted, and the
tendency of the market is to advance
still further.
Exports for the week were somewhat
higher than the previous one, wheat
and -four equalling 1878, 900 bushels,
while the worlds shipments were re-
ported at about 4, 900, 900 bushels. On
ocean passage decreased 100000 BUSH
els, and our visible supply showed an
increase Of 708, 900 bushels, and now.
totals 16, ,O32 900 bushels, against At,
$4,000 bushels year ago this time.
There were alarming reports of dam
age to the Russians greatest food and
cereal, the rye crop. An encouraging
feature is the exceedingly light re-
ceipts Of new wheat, the movement
thus far being very limited and not
amounting to more than one-third OF
: that of year ago. This indicates that
there is a very heavy interior demand
for new wheat, or else that the new
crop is being held back in antici patton
of higher prices. Cables have advanced
daily and are very strong, bringing
buying orders for both English and
French accounts, nc ostly future delivery.
Portland Markets.
| Wheat-Walla Walla, 75c; Valley,
75c per bushel.
Flour-Best grades, 1915; graham,
1925; superfne. $2.25 per barrel.
Oats-Choice white, 3S@40c; choice
gray, 37@39c per bushel.
Barley-Feed barley, $16@ 16. so;
brewing, $1s@19 per ton.
Millstuffs-Bran, $3.50 per ton;
middlings, $21; shorts, $3.50.
Hay-Timothy, $3.50; clover,
$1O@11; California wheat, $10@i
10; do oat, $11; Oregon wild hay, $99
10 per ton.
Eggs-14c per dozen.
Butter-Faney creamery, 35@4oc;
fair to good, SOC; dairy, 25@30c per
roll.
Cheese - Oregon, 111ac; Young
America, 121ac; California, 90 10c per
pound.
Poultry-Chickens, mixed, $2.75@
3.25 per dozen; broilers, 81. @3. so;
geese, 1894; ducks, So. @3 per dozen;
turkeys, live, 10@11c per pound.
Potatoes. Burbanks. 35@
45c per sack; new potatoes, SOC per.
sack; sweets, $2.25 per GENITAL.
Onions-California new, red. $1.25;
yellow, $1.50 per Genital.
Hops-10@111ac per pound for new
crop; 1896 crop, 4@6c.
Wool-Valley, 11@13c per pound;
Eastern Oregon, 7@9c; mohair, zoe
per pound. -
Mutton-Gross, best sheep, wethers
and ewes, IA @2hc; dressed mutton,
41ac; spring lambs, 5 = per pound.
Hogs-Gross, choice heavy, $4; light
and feeders, $2.5O@3; dressed, $50
4.25 per 100 pounds.
Beef-Gross. top steers, So. rs g 8;
COWS $2.25; dressed beef, 4@51ac per
pound.
veal-Large, 8; small, 4@41ac per
| nound