The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1909-02-09
WHEAT PRICES
FORCED HIGHER
Special Support Necessary to
Maintain Values.
No Evidence of Scarcity and Other
Countries Supplying Europe In
Grain Market.
FAR ABOVE WORLDS BASIS

Chicago. Feb. Evidences of a
ldispositlon ON the part OF large own
lers of wheat to force values to high
er level have been numerous through
lout the last week. Prices were at no
time in the week lower than on Mon
day last and It has been the evident
plan to keep the strain ON the May
shorts as steadily as possible. Enough
lheaviness in the general situation de-
veloped toward the end of the week,
however, to necessitate active support
as II was found that the bulge was
bringing in more selling than buying
orders. This, along with the ordinary
weekend and other realizing, made
quite pressure on the market
No evidence of broadening trade
have accompanied the last weeks adj
vance in values, which was largest in
the May delivery, where the big hold
ings are concentrated. On the other
hand there has been distinctive evil
dence Of am increase in the movement
from the interior, the effect ON the
-four trade has been dampendng and
outside markets have shown a tend
ency to drop away from the Chicago
basis.
The one feature that has been
kept prominently IN the foreground
is the big premiums over regular con-
tract delivery grades that are being
paid in all directions for red winter
wheat These premiums have not
prevented a fair cash trade, but the
total sales have not been large enough
to stand out prominently over these
Of similar weeks at this season m
other years, and they can hardly be
called true index Of the cash wheat
market Hard winter wheat thus far
has been ruling at about full carry
ing charge difference below May de-
livery here, and It is gradually getting
TO a basis which will enable its being
brought here at profit from western
and southwestern points.
Flour Trade Improves Slowly.
improvement in the -four trade dur
ing the last week has been slight. In
fact. many prominent factors in that
trade have questioned II there has
been any Improvement. taking the
trade as a whole. Larger north west
lernmillers appear to be in about the
same position as the smaller mills OF
the spring wheat section, and have
received no material stimulation to
their business, because OF the fact
that increasing prices for red winter
have put the spring wheot miliers ON
a much better. relative trade basis
than they have enjoyed in years.
In the -four trade. as IN. many other
branches. the disposition of the buyer
either from necessity or choace. has
been to work on a hand-to-mouth
basis at the current level of values.
Many mills. however. as well as a
number of larger handlers OF cash
grain, are carrying their stocks out
right, making no hedging sales here.
land are acting reasonably confident
that current values are justified by
conditions
While many who are usually con-
sentative and well seasened in the
trade hold strong views on wheat,
Others see how the rapidly diminish
ing export clearances will ultimately
make a heavy situation in that re
serves Will thus be gradually conserv-
led beyond the normal rate. Primary
receipts during the last week have
shown material gain. The total fen
only about 400 900 bushels behind
that OF the corresponding week last
year.
Export Clearances Are Small.
Export clearances IN the last We :
we've 2,700g0O0 bushels less THAI
those of a year ago and in the last
two weeks have been easily 1000. 900
bushels behind last years showing
for the similar period In the foreign