East Oregonian : E.O. (Pendleton, OR) 1888-current, 1914-07-20
CHICAGO MARKET HAS
LITTLE BEARING HERE
OUTLOOK FOR WHEAT BETTER
THAN INDICATED BY BU1-
ING INTERESTS.
(From The Journal. }

The question has been asked many
times recently: What effect does the
Chicago market have upon the price
of wheat in the Pacific northwest"
In normal seasons Chicago has alb
solutely no bearing upon the price Of
grain in the North Pacific coast states
and even during times OF curtailed
production east of the Rockies, the ef-
feet upon the price Of the Pacific
coast cereal is extremely limited.
The only way that Chicago can pos
sibly affect the price OF grain upon
the Pacific coast, is for the trade there
TO influence that OF Europe. In a
roundabout way this influence would
be felt here.
There is an enormous crop Of red
wheat throughout the United States
and Canada and for that reason there
is very likely 10 be very slow and
weak as well as low market for that
cereal during the present season.
Red Wheat Affected.
The red wheat OF the Pacific north
west states is likely 10 suffer along
with the grain Of the rest Of the Uni
ted States and Canada. The white
!. wheat OF this section is the most
: sought after wheat for exporting pur-
: poses in the world. European milling
interests are very much interested in
the white wheat Of the Pacific north
west and I'm some seasons the premium
between the red wheat OF east Of the
Rockies and the white cereal from this
section. amounts TO several cents a
bushel
In fact II Is stated recent large
sales Of export wheat along the At.
lantic seaboard were made at about
sc a bushel less than the Pacific coas
i basis.
Notwithstanding all the cry OF alarm
among buying interests at the mac
tivity OF the cargo market here. ther'
appears 20 be a somewhat better feel
ing abroad. Latest advices Of tn
crops OF Europe are somewhat les
favorable than former ones and thi
naturally has had a more favorable ef
feet upon the trade.
The weakness in the coarse grail
market has been prolonged and tn
q
temporary showing Of strength 70
barley in California disappeared dur
ing the latter part Of the week an
there Is at the moment PRACTICAL
nothing in sight I'm the oats trade.
Bag Market stagnant.
Market for grain bags is stagnan
An artificial showing Of steadines
was created here by speculative intei
ests during the week but this did nS
fool the country at all. The resu
was very limited movement TowaI
the closing OF the week the situatio
was further aggravated by the offe
ing here by California at lower pric'
OF bags purchased earlier in the Sc.
Y son when II was believed there wou
be a shortage Of early delivery in Il
q south
Wheat-New crop. club. July rs
. August. &c: fortyfold. July. 7s'
biuestem. s1d SEC
Il osts-New crop. buying price: Y,
q white feed. s2l n also per ton; grs
f205o
!. Flour-selling price: Patent. s47l
Willamette valley. 81 20; local straigl
4 $40: export. straight $3.50: cutof
SO s0d 3.65; bakers. s4.5Od470
Hay-Producers price: Willamet
valley timothy fancy. sl3.50Gl /.
q eastern oregon-Idaho. fancy ;imoth
a s1sGls 50: alfalfa, si3G135O: vets
= and oats sill: clover. sea9.lO per TO
a Grain Bags-No. Calcutta. futu
a delivery. ss12 l-2ds s.25: oats bae
q $3.50.
Millstuffs Bran. s22.5Od 2
a shorts. s2s5OG27.
Parley-New crop. early deliver
a feed. s20.50G 2l. late delivery fee
a sls; brewing. $50 per ton
N'nd ratter with their ere,. M
WITH u'ir tongues.