East Oregonian : E.O. (Pendleton, OR) 1888-current, 1915-03-29
LACK OF SHIPS
SHAKES PRICES
Saturdays Market)

PORTLAND. Ore.-Very serious de-
cllnes were forced In the price Of
wheat in the local market for the
week. AS during the former break
IN values, the price losses here during
the week were due not 70 any real
weakness in the general cereal stu
alton abroad, but to the fact that II
was almost impossible to secure ships
In which to send supplies to Europe.
There is no denying the fact that at
this time the price OF wneat Is below
the actual export working basis.
Were shops available in supply suffi-
cient for the trade here to understand
exactly what the freight rates would
be. a liberal amount OF export busi-
ness would at present be passing.
one Of the special features Of the
wheat trade during the week was the
confirmed sale OF cargo Of wheat TO
90 from Portland to Australia. This
one fact really indicated strength in
the worlds situation. There Is no
doubt that Australia would have pur-
chased its wheat elsewhere were II
available below the price quoted here.
This leads 10 the conclusion that
despite the fact that the demand from
California is very disappointing and
less than half OF the normal require
ments the entrance of Australia into
the market means that everything
available here will be wanted even
though not a single additional bushel
Is sold to Europe. a condition scarcely
likely so far as the latter is con-
cerned.
More Wheat Than Expected.
More wheat is available in the in
terror than expected up to this time
WaIla Walla holdings are quite fair
and there is a good sprinkling Of stock
in the Big Bend as we'll as scattered
holdings in other sections. While
considerable wheat was untitled in
the interior for reseeding. still the am
cunt of winter killing was generally
overestimated and for that reason
some growers who held stocks fear
ing such a condition. are now willing
to market them-providing Of course
| that the market is right.
There is no panic among wheat
growers Of the Pacific northwest re-
garding the probable price of wheat
| for the immediate future. In fac
most growers are quite content to be-
lieve that the next crop will sell al
very high prices and war or no wal
they intend to put in considerable
spring stuff.
Why the Oats Weakens?
Just why all this weakness in spo
oats prices. the trade here is unable
to explain aside from the fact tha
some Of the speculative holders have
become tired and were willing to un
load as promptly as possible.
Sales OF oats to Australia have beel
4 quite fair during recent weeks an'
there are indications of still furthel
business with the strong possibilit.
i that Europe will again purchase be
\ fore the season is over. Then again
the trade hears that the government
is about to call for bids for liberia
.l / SIQGhS 10 Stlu ~ hAAFRAANS- -
of this should create a bullish situa
ton in the oats trade. and were
not for the fact that the market ha
been hurt considerably by the lack o
shipping facilities, there is no doub
that the present weakness would no
: be shown.
Clover Seed-Buying. price: Nomi
nal No. /; uncleaned. IL LA l2c; or
binary, lie: alsike, lie pound.
Flour-SeIling price: Patent 81
willamette valley. 81; local straight
|, $3.50: bakers. $7d 7.2O.
Hay-New crop, buying price vii
lamette valley timothy. fancy, Sl2.5
G13: eastern Oregon-Idaho fanc
timothy. SIS. alfalfa, $4,000 1850
vetch and oats, S11; clover, SSGs pc
ton.