East Oregonian : E.O. (Pendleton, OR) 1888-current, 1909-10-25
THE WHEAT MARKET
BULL is MANIFEST
IN GRAIN DEALINGS
Chicago Wheat Takes Drop Be-
cause of Increased Run at Primary
Points.

Portland, Oct. 24.-Heavy with
drawals of Oregon, Idaho and Wash
ington wheat from their regular chan
nels is much encouragement to those
who have all along contended that
farmers would get 81 a bushel for
their product this season.
Already the price at primary points
has reached above the opening val
ues even after the market received a
serious setback when the crop move
ment was fairly under way
st. Louis and Kansas City millers
are after our wheat and to get 1t they
have recently outbid local people for
supplies; in fact some of the local
buyers were themselves sellers of a
portion of their surplus because Of
the high prices realized for east of
the Rocky shipment.
While the purchases of North Pa
cific wheat by middle west and south
ern millers have not yet reached the
of a few seasons ago when
the movement became decidedly
heavy; the indications now point to
even a heavier withdrawal from this
section.
Foreigners Must Bid More.
That foreigners have been forced to
bid more for their recent purchases of
wheat in this territory is due almost
entirely to the buying by Minneapolis,
st. Louis and Kansas City millers;
although of course, the buying was
hurried by the fact that the ships
chartered must be loaded without de-
lay, no matter what price must be
paid for the grain.
At this time the millers are pre-
pairing for a much higher wheat mar
ket, and recent cutting Of card prices
has almost ceased among the best
makers and there is little doubt that
All cutting will cease within a very
short time. While at present no
is contemplated in the local
price of flour, export values are
tending higher, and advances in that
grade are likely as soon as the slight
differences between the millers Of
Puget Sound are adjusted.
Chicago Market.
Chicago, oct. 23.-Receipts of
wheat for today were so materially
heavier than those of the like day in
1908 that they overcome the influ-
nee of No. 2 red wheat in the sam
Die market, bringing from $1.21 to
1923, and. of No, hard at from
;11O to $1.15 and the loss Of l cent
| bushel advance made early in the
lay and of 3-Sc more.
At the close December showed a
Iecline of 3-Sc and May loss of Is
ent, both leaving off at $1.05 3-S,
which showed the loss of lac prem
um over the May price that the near
st delivery was bringing at the close
f the previous days session.
Demand for December wheat at !
he start was good over a range of |
rom $1.05 SIS up to S1.06 and May |
'as wanted at about lac to lac un-
er the December. About Is minutes
lter December got as high as $1.O6
s and May S1.06 Ia.
Heaviness of domestic receipts
aused some wheat to be sold that
ad weakening effect and the re-
elton brought prices down to about
here they closed yesterday before
purchases came in suffi-
lent volume to give the price anoth-
r uplift.
Weight of the primary market re-
eipts for the day and what was ex-
ected from the other side Monday Of
similar description proved too
luch for the bulls and the market
as as weak near the close as it had
cen previously strong. At the close
december and May were being trad
4 in at $1,O5 S-S,
Wet weather in the corn belt and
rength in the wheat market COM
ined to maintain bulllsh sentiment
/, the yellow cereal. Demand, how
YER, was met by considerable sales
nd tie gain in price was slight in
ecember, with May chiefly on a level
ith closing prices of the previous
ay during the first half of the ses-
on. December closed at SO S4c and