The Wenatchee daily world. [volume] (Wenatchee, Wash.) 1905-1971, 1909-05-14
ADVANCED FLOUR
AGAIN
LOCAL MILLS ADD ) CENTS PER
SACK TO FLOUR-WHEAT NOW
IN HISTORY OF STATE.

Both wheat and -four are now
higher than at any time in the his
tory of the state--that is, since the
pioneer days of the state. Yesterday
the price of -four was advanced by
the local millers from $1.65 to $40
per sock, making the advance from
$645 to $685. per barrel. 1t is
thought that before the coming crop
lis harvested that there will be still
further advance in the price of flour.
Dealers are now paying $3.50 per
bushel for wheat in the local market.
There is very little being brought in
as the crop was pretty well cleaned
up here last fall.
Manager Russi of the local mill
states that he believes that the mar
ket of wheat is on a firm basis, that
it is not due to any manipulations
|of the wheat exchange or to any
|other causes than the rules govern
ing the laws of supply and demand.
A well known trade journal of the
|coast, commenting on the wheat stu
alton, says:
cit will soon become serious
question of getting enough wheat to
meet the requirements of northern
and California millers. Shipments
have been going down to California
quite freely so far this month, but
no one in the trade figures for any
shipments next month. Crop pros
poets up here are still very 1atter-
ing Wheat growers in every section
of the northwest are feeling con-
tented over the conditions at the
present time They say that the soil
has plenty Of moisture and that they
can get along for another month be-
fore rain will be needed. The rains
recently were very beneficial Warm
weather is reported and this is help
ing the sOwn grain materially. The
wheat is stooling out fine, and a
heavy yield is predicted The acre
age of spring and winter wheat will
exceed three and One-half million
acres, and this should produce
bumper crop, barring climatic con-
ditiOns.
Foreign wheat markets are higher
than our own, and the recent ex-
treme break brought out on liquida-
ton of wheat supposed to be in farm
ers' bins.
THE commercial interests are less
fearful of manipulative control and
willing to consider the market more
in the light of the statistics than it
was dominated There is no ques-
ton Of the scarcity Of wheat in GER
tain sections of the country, and
there is also no question of the gen.
eral strength of cash wheat even in
the leading northwestern markets
when there are large supplies. 1t
was one of the features of the great
decline that cash wheat failed to re-
feet fully the heaviness of the flu
lures. The recent collapse of the
market was wholly the result of a
speculative debauch. Cash wheat is
not likely to go 'to pieces" in the
way the futures market did, and
there is little possibility of any sus-
tanned weakness until the 1909 crop
is of more material weight than at
present; but the international sta
tistical position has been shaping less
fayorably for the maintenance of
cash values on the higher level un-
less the worlds export movement of
last week was a supreme effort rather
than the beginning of a sustained
large movement The factor that
will make the wheat market a two
sided affdlr Tor some time is that
new crop futures have been placed
above the dollar level. which here
tofore have never proven profitable
in the end. This is past history, and
of course no logical reason why 1909
should not be an exception, but it
will exert a certain amount of inf1u-
ence among traders that may from
time to time be formidable. All flu
lures are now selling over a dollar,
but at good discounts relative to
their position of maturity, and do not
seem excessively high in the face of
the bullish enthusiasm that is in the
air In a general view of the situa-
ton as it presents itself at this mo-