Omaha daily bee., 1907-05-15
OUTLOOK FOR WHEAT Cru
London Dealers Attribute Rise to Prospect
Of World Wide ihOrtage
BERLIN TAKES A DIFFERENT VIEW
Much of Advance IL Attributed 60
Manipulation by Spectators
slight Reaction IN Chicago
Market.

LONDON, May 14-The European wheat
situation. according to the generally ac-
cepted view here, resolves itself into ques-
tions of supply and demand. 1t is ex-
planned that IL is not speculation alone
which has brought about the present high
prices The situation has been strongly
Influenced by buying for the foreign de-
mand. Germany has been purchasing
Australian and Argentine cargoes for
nearly six weeks, the shortness Of stocks
In that country being caused to some ex-
tent by selling considerable quantities OF
both rye and wheat TO Russia, as last
years Russian crop suffered damage
Germany therefore, must now get about
100000 bushels more before the end of
July this year than II did during the
same period last year. This fact is re-
marked here as mainly instrumental in
causing the squeeze because river Platte
shipments are required by the United King
dom, Germany and the Mediterranean, es-
peciary Italy.
II is also acknowledged that considera-
BILE damage has been done to the winter
crops in Germany, Roumsnis, Hungary
and along the Danube, extending to about
40 per cent One Bulgarian report says
that In places It is about 80 per cent.
From all Europe. France excepted, the
| advices are unfavorabe. The Russian.
crops are not only bad. but the political
uncertainty in that country is also having
depressing effect on trade. The millers
have been keeping down stocks to the
lowest points possible, living from hand
to mouth, expecting a drop in prices.
Cold weather in Great Britain also to
some extent helps the advance.
hn agN 1lx a1rtr7 xrk0
there has been a shortage of wheat in
the west there has been plenty in the
east and vice versa, but this year both
are bad, and naturally the price goes up.
The representative Of a large Roumanian
dealer informed the Associated Press that
| when he left Roumania some weeks ago
the outlook was bad and that his advices
fully confirmed the depression of the situa-
\ ton. He further said that unless rain fell
very shortly the spring crop would be
ruined and the exports of wheat would be
prohibited.
A dispatch received here from Melbourne,
Victoria, this evening said that the wheat
market there was strong and that prices
had advanced cents.
Prices Lower in Liverpool.
LIVERPOOL. May 14-The price of wheat
futures here today were lower. According
to the opinions of dealers the increase in
| the prices of wheat is due to the shortage
of the crops in the United States, southern
Russian and Roumania, and not 70 specu-
| lative movements.
The latest reports from Bucharest say
unless rain falls In a few days the spring
crops in the whole of Roumania will suffer
severely.
The large cargoes of wheat which gem
| orally reach these waters at this period
of the year have not arrived and the
stocks in Great Britain are light con-
siderable quantity of Australian wheat is
being purchased in England for Germany.
Owing TO the increase in the price Of -four
the Scotch bakers have raised the price
OF bread.
PARIS, May n-The wheat situation in
the United States is being followed most
attentively in Paris and every part Of Eu-
rope. The upward movements OF prices
however. do not cause great surprise In
commercial circles Prominent grain mel-
| chants here express the opinion that the
present upward movement is partly Justl-
fed by the crop reports, though it is said
20 be to a certain degree speculative, and
some reserve is regarded as being neces-
sary in forming an opinion on this side,
as the latest available reports In Europe
are quite a month old. when almost every
country except France. which was favor
able reported a shortage. German wheat
suffered from the rigorous winter and
Hungary, Russia and the Danube districts
also endured severe cold. while the spring
wheats have been retarded by the abnormal
temperatures All parts now complain OF
the excessive heat. and even In France It
is not certain whether the crops will turn
out as well as anticipated. The critical
period is now approaching. In the event
Of the prospects being unfavorable the
French merchants would be Obliged to i'm
port from the United States The European
requirements have been important this year,
with low stocks, while the small supplies
received from India leave the United States
apparently master OF the situation. The
market here this afternoon was calmer on
realizing.
Germans Blame Spectators.
BERLIN, May 4-The German grain
market is disturbed over the sharp rise in
prices in the United States. While Il Is
admitted among grain merchants that the
advance finds a natural explanation in the
crop prospects, chiefly American and partly
European. still the feeling here is that spec
ulation has besn 'overdone in America,
hence in Berlin the prices today not only
refused TO follow the advances In the
United States and Liverpool yesterday, but
closed lower. July wheat losing 70 cents per
ton. 1t was reported on the Bourse that
} Russian agents sold heavily for nearby de-
livery
While the German grain crop somewhat
improved recently 1t is stin FAR behind in
consequences Of continued drought.
HAMBURG, May a. - The fear is ex-
pressed among the Hamburg grain mer-
chants that the South Russian merchants
may fail to make delivery II the upward
movement in the price Of wheat continues
One Hamburg firm is mentioned as already
bs'ng involved In difficulties In this con-
! nection
BUDAPEST May 1.-THE report OF the
ministry OF agriculture says that the win
ter had been bad for grain. Winter wheat
rye. barley and corn suffered from the ex-
cessive frosts and insects and much OF the
land was untitled on account OF the un-
favorable spring. The existing sowings
show little development
slight Reaction In Chicago.
CHICAGO, May 1A-Many men took small
fortunes from the Board OF Trade thil