East Oregonian : E.O. (Pendleton, OR) 1888-current, 1914-08-17
PROSPECTS GOOD FOR
HIGH WHEAT PRICES
RESUMPTION OF EXPORTS HAS
BULLISH EFFECT on NORTH
WEST MARKET.
'(From the JournaI.l

PORTLAND, Ore, 17.--At the clos
ing Of the week a resumption of the ,
export demand for wheat is promis-
ed. The outlook for Pacific north !
west prices is exceedingly good. This |
view is being held by most Of the
buyers, and producers are naturally
of that opinion.
The fact that very large per cent
of this years crop in the Pacific
northwest is Of inferior quality, due to
the smut, is causing millers to scram.
bic for supplies OF the better quality.
On the last day of the week there
was a substantial advance in the price
due to this fact.
| Latest advices from Europe are to
I the effect that. with the exception OF
England. the crop of wheat will be
materially decreased from a year ago.
/ Even under the best harvest condi-
! tions. II is not likely that the crops
/ abroad can be gathered safely with
out much loss, and this is sure 10 al
wect the grain trade and price gen.
orally when it becomes fully confirm
ed.
The recent sharp losses in the price
of wheat at Chicago and at Liverpool
had practically no effect upon the
trade here While business during
the week was almost negative, due to
the fact that foreign shipments could
not be made, there, nevertheless, was
a feeling of optimism regarding val
ues
Some of the leading interests have
been so bearish in their views regard
ing the future price OF wheat that
( they have been unable TO see the inn
. proved strain in the trade, Others
4 however, are taking full advantage OF
the situation, and are buying when
ever they can secure the money tc
q take hold.
: With England, and. in fact. most OF
Europe. guaranteeing the payment o.
:. wi.eat supplies purchased in this coun
: try. the financial situation is clearint
fast. The movement to have the
United States government take charge
! of the war risk has met with instan
y favor among buyers and sellers allke
: There is a possibility that afte
the first free movement Of wheat 10
export that the market will show
. reaction. but this is generally expect
o ed to be a temporary affair, and quit
in line with what usually happens
% America is the keynote of the world
% wheat market at this time, and,
10 farmers on this side Of the water ar
70 not willing to accept lower price!
70 their holding is likely TO prove a Yer
20 big factor in keeping the marke
20 high.
IS There was little business reporte
in the coarse grain market during tn
lie week Some small sales of spot oa'
{ were reported at higher prices bu
{ as the oat harvest has just starte'
IN this really means very little to the fl
ne ture
Hay market continues affected
ir the continual consigning Of heavy SUI
lie plies from the Willamette valley an
ID every want of the trade is amply SUI
i'd Piled
he Flour prices were erratic during ii
,h week. There was one general az
vance of zoe a barrel early in II
week all through the Pacific norti
7s west. Yesterday most of the mil
20 made a further advance for a iii
90 sum.
On wheat-Nominal, New crop clu
az SIC; fortyfold. sSc; bluestem, go
"a red Russian. S5c.
Oats-Nominal. New crop, buyir
price. No. / white feed, s21.50; mil
ing $22 per ton; gray, s21.
Flour-Selling price: Patent. SAL
as; Willamette valley, s4.70Q AS
n local straight, $3.50 400; expol
KS straight, $3.50; cutoff. 81; baker
Is $4.70G4.S0.
o. Hay-New crop, producers pric
py Willamette valley timothy, fan
iu' s1250G14: eastern oregon-1daI
ie' fancy timothy, pic; alfalfa, s12
Ia, IS; vetch and oats, 5000; Glove
',u IS per ton.
lus Grain Bags-No. Calcutta, futu
ne delivery, ss.25.
DO Millstuffs-Bran, s23; shorts, s
zen @275o.
is Barley-Nominal, New crop, fe'
ur- $50; brewing, s21 per ton.