East Oregonian : E.O. (Pendleton, OR) 1888-current, 1915-03-01
WAR NEWS is
WHEAT FACTOR
(From Sundays Journal }

PORTLAND, Ore.-The Dardan.
elles came in for most OF the atten-
iion from the worlds wheat trade
during the week. The fear that the
waterway would be opened to nayi-
cation soon with the expectations OF
resumption Of Russian exports
caused heavy selling pressure at
most worlds centers during the week
and Is likely to exercise further in
luence within the immediate future.
Locally the market was rather dull
although of a most excitable nature
during the week. The sharp Losses
n the Chicago market, the big cut
in the quotations on eargoes at Lon
don and the near approach OF tax
time in the Pacific northwest all had
their depressing effect upon senti-
ment here.
The depression was more apparent
among the speculative holders than
among country holders OF wheat.
The former were very free offerers
OF wheat at sharply lower prices dur
lng the week, while farmers were
somewhat more willing to listen TO-
those who wanted to buy.
Buyers were far less numerous
than sellers Of wheat during the
week. Naturally under such a condi-
ton naught but sharply lower prices
could prevail. California continues a.
fair buyer of wheat here, but tho
volume of business is below that OF
previous weeks.
DardaneIles 10 Rule Market.
There is seemingly no doubt that
the wheat trade OF the world will
center its attention upon the Dar-
darelles during the next few weeks.
II navigation is resumed and Russian
interests are able to sell portion OF
their hube surplus Of wheat, there
are nothing but lower prices in sight
There is every likelihood that II the
Darcanelles are opened that the
wheat price will swing even lower
than the situation justifies. but this
is TO be expected, because the market
always swings from one extreme to-
another whenever opportunity offers.
Owing to its inability to export
wheat, prices for the Russian crop
have been the lowest for SO many
years that the trade has forgotten
when values there were lower than
at present. II is stated that wheat
WIS being freely offered there at 80
q 35c a bushel and huge quantities
were left in the fields because Of the
fff.,. ETA
Coarse Grains Follow Wheat.
Prices offered for coarse grains
curing the week followed the trend
o. the wheat market quite closely
Both oats and barley were extreme
ly weak. The weakness in oats,
however, was for a very different
reason than for wheat Speculative
interests who had purchased liberal
ly some time ago have become tired
and were willing to get from under
with as much grace as possible. Lit-
tie supply of oats remains in the
country, dealers controlling major
supplies.
Flour market was lifeless so far
as the local patent trade was con-
cerned. Two cargoes for European
account were confirmed for English
shipment during the week by Pacific
northwest milling interests.
Glover seed-Buying price: Nomi-
nal No. l uncleaned, IL 1-29l2c, or
dirary, lie pound; alsike, lie.
Flour-Selling price: Patent, 81
20: Willamette valley, s7.2O; local
straight, s6.40; bakers, S747.4O.
Hay-New crop, buying price:
Willamette valley timothy, fancy.
s13.5Od14: eastern Oregon-Idaho
fancy timothy. $3.50: alfalfa, $3.50
1880; vetch and oats, 5000: clo-
ve!, IS per ton.
Millstuffs Selling price: Bran.
Rolled barley-Selling price: $50
shorts. $500. 4
a 81 per ton.