The Breckenridge news., 1906-08-08
: CONTINENTS
TO BE FED
By American Wheat Which viii
Soon Be Worth More Money
Than NOw--Great Corn Belt
Of The Country Very Dry
And Trade NeryOuS--
Oats Futures Bought
By The Cereal
Trust.

We believe there Is an opinion in
the minds of many readers that any
thing sent out in the way of advices
in regard to markets is in the nature
OF guess. The weather man Is accus-
ed of guessing because one time in
four or one time in ten bis. calcula-
tions 60 wrong when based on the best
scientific knowledge. No one can
'guess grain markets correctly and
keep it up OF he would make fortune
in a month and retire We refer to
this because we wish TO say that cur
advices are based on information from
all possible sources at home and abroad
and that our conclusions are the re-
suit OF very careful study and sraly-
sis of all conditions which go to shape
prices. Three days go in publised
letters we saId that 1.-THE entire grain
list had been oveIsold and that the
only logical position for an investor or
trader was to take hold OH the buying
side - What has happened slnce2 Sep
ember wheat sold at 76c and up to
755c, May corn 4715c and up to SOC,
May oats 35c and up to 37c, all in
forty eight hours time
Conditions which wheat traders
have to study at the present writing
are vely interesting They embrace
two continents The European situa-
tion is very strong because Of the re.
cent injury to Russia's crops, because
OF the internal affairs of that same
empire, because the supply from Ar
gentine is about at an end. Importing
Europe Is looking to this side, and
not an exporter from Galveston to
New York but wheat has each day
numerous bids from the other side for
all the grades of wheat raised on
American soil Never was wheat IN
this country so fine in quality and il
is only matter of time until foreign
ers will be taking 1t at the rate Of a
million bushels a day. The spring
crop o. the northwest is not harvested
by long ways. and a week Of extreme
heat with the plant in the milk would
great damage Mills everywhere are
eager buyers of the choice wheat which
is coming forward IN such large vol
ume Elevator people also are securing
as much of it as possible and it is
safe wager that his grain Will never
leave their houses until il brings
much better prices than are ruling at
present.
Just at this juuture it is very easy
tc get wrong IN corn. We say this
because it is purely a weather market,
and no one needs to be told how
quickly the map will change Drought
extends from Ohio to the Colorado line
There is no damage 10 the growing
crop as yet. Another week will bring
that II general rains do not come.
The cash corn situation IS very string
with prices advancing here and in the
big marKet of the southwest. Chicago
is shipping out about three bushels for
every one reosived Should the drou-
ght continue there will be bet one side
to the market and that Will make
money ior buyers very fast At the
first sign of general rains holders of
corn should sell quickly Western
farmers are more generally prscticing
direct shipments of their grain TO the
primary market, thus saving their
home buyers profits.
There is a situation developing in
oats which may become remarkable.
Cash prices ARE marked up sharply
Early harvests are not turning out
well. The coutry is buying oats based
on the light harvest returns. Timothy
hay in this market has advanced $4. 90
in forty eight hours to $50 90 ton.
This reflects the short hay crop and
the poor pasture OF the country. The
gigantic cereal interests are buying
oats futures as a means of getting their
supplies later without paying fancy
prices. Think everything points to a
strong speculative market.