East Oregonian : E.O. (Pendleton, OR) 1888-current, 1909-03-02
PORTLAND HIGH
WHEAT MARKET
LEADS WORLD IN PRICES
AT THE PRESENT TIME
MIlIers Unable to Secure Supplies by
Offering As High as $1.2O Per
Bushel for Blucstcm-Anothcr Ad-
vance in FIOur-Icmporary Loss
of Demand for Livestock.

Portland. Ore, March 1.--At this
time the Portland wheat market Is
the highest primary market in the
entire world. with bluestem wheat
supplies even at $1.15W$1,20 a bush
el and other grades in proportion, the
local market Is put in class by Itself.
The forecasted advance Of 20c a
barrel in patent flour and the ad-
vance Of Toe n barrel In export grades
were caused by this extreme Of quo
tations
There will be an advance Of zoe a
barrel in the price Of local grades Of
flour either tomorrow or within the
next two days Export grades today
advanced 1Oc a barrel, putting the
value to $40, or the highest in years
The proposed advance in Local
grades will put patents to $5.45 a
barrel, compared with the price Of
$59J today.
The wheat market has advanced
so rapidly OF late and supplies offer
ed were so scarce that the advance
was forced upon the unwilling mill
lers. While the latter are quite
anxious TO get all the money they
can for their flour, the Forcing Of
values 20 such height was not made
without much serious consideration.
with the new and higher prices in
effect It will cause sharper competi
turned into lambs and then sacrifice
and the local grind While wheat has
made sharp advances In the east, the
market here Is the highest in the en-
tire country-'n fact. Portland Is to-
day the highest primary wheat mar
ket In the world.
with cash wheat firm and higher,
there was q stronger tone shown to-
day IN futures on the Portland board
OF trade March option advancing 1c
"a bushel over Saturday.
Coarse grain futures felt the influ-
cnce OF higher wheat prices today
and on the board OF trade today
March oats advanced 2i2c a GENITAL 20
$3.50 bid.
Slight Loss IN Chicago.
Chicago. March 1.-The butts were
turned int olambs and then sacrific-
ed by the bears when The marKet OPP
ened . cents a bushel under Saturday,
this morning II was the most serious
blow the Patten clique had received
in the present movement and after the
first blood was spilled, the attacked
party recovered some Of its nerve and
a portion of the lost price. Wheat
closed with May "a to 5-S cent a
bushel under Saturday July ana Sep
tember sustaining losses of 3-S cent
each
Pei haps most Of the Jolt received
Icy Patten and his crowd this morn
ine was handed them by the foreign
SCI cis. At Liverpool the shorts were
not the least disturbed by the recent
sending Of May wheat to $l10 a.
bushel here and after opening $50
under Saturday today's opening Mar
ket closed with net losses aggregat-
inf IA to l S-Sd.
Foreign influence and weakness
gave encouragement to the bearish
clique at home but sellers did not care
to venture too far and therefore af-
ter bearing the price down at the
opening, covered some of the sales
with the least possible delay.
No Outside Buying In Potatoes.
Portland. Oregon, March IL
While the potato market here is
quoted with a very strong tone the
strength due entire cmfwyp cmfwyp
strength is due entirely to manipula-
ton and dealers who have purchased
the most are the biggest boosters. De-
spite all of this assumed bullishness
there IS no demand for potatoes at
prices producers have been led tol
expect-at least at this time. While
the trade in general is of the opin-
ion that potato prices will rule firm
perhaps for the rest of the season and
may go higher. there is also a possi-
bility that producers will hold too
long, and thus have TOO liberal a sup