East Oregonian : E.O. (Pendleton, OR) 1888-current, 1920-09-04

(From Overlook e. Cooke Coz
Chicago Opinions on wheat
mostly bullish. receipts of wheat con-
tinue light, foreigners refuse to follow
the advance, primary receipts of wheat
1,297.0Oo against 2,166,O00 last year.
| Unfounded rumors of failures in the
east and temporary closing down OF
| export demand induced Increased SELL
| ing in late trade, recent upturn in
prices have been so rapid that foreign
ers have got temporarily out of line.
One OF the crop experts sad that
+, United States has only 1S0,0O0,v00
/ bushels of wheat for export this sea-
son. compared with actual exports of
220.000,000 bushels fro last crop. He
figures that the crop and carry over is
S73, 900. 900 bushels or 100000 less
than last season. Canada is expected
to furnish about 70,000.000 bushels
making total of 350.0O0,0O0 available
for export from North America. The
European imports Of wheat last crop
ar were $50. 100000 bushels there
fore it can easily be seen that If any
thing should happen to Argentine or
Australian crop is would make a very
strong wheat situation. The statistical
position is regarded as very strong and
Argentine cables indicated that heavy
damage would be done TO the crop in
the leading wheat producing sections
unless drought was relieved quickly.
(F'rom Overlook & Cooke Coz
Kansas City wheat stocks have in
creased 10000 bushels for this week,
making the total 1.s6O,00 bushels
compared with 12.7SO.OOO bushels last
year. That stocks there should de-
III. .f r1anV4
the south west produced one of the
largest crops on record is regarded as
remarkable by some traders. Country
offerings to arrive remain small
Chicago Tribune.
(From Overlook & Cooke Coz
Broomhall says-Buenos Ayres close
wheat easy February POS, corn quiet
September "a. October "a ~.
Liverpool oats steady. corn steady,
wheat firm.
(From Overlook & Cooke Co.)
Wheat-There was noticeable lack
of outside buying at the opening and
the scattered sales that accu-
mulated over night were sufficient to
bring about a sharp dip and some
what easier feeling obtained in cash
circles, prices being . to 3 cents lower
in Chicago and 3 to cents lower in
outside markets. The absence of
short buying had a tendency to make
the trade forget that both clearances
and sales for several weeks past have
been enormous and have resulted in
a strong statical position. The most
important selling news was a report
of generous rains in central Argen-
tine. Tho wheat situation does not
seem to lower prices at the moment
Corn-The features of the day was
that run in Sept corn. Aside from
this was a pre-holiday affair with
transactions confined mainly to the
reaction of open commitment Cash
prices were easy in add directions de-
clining from ! to cents in Chicago
and to 3, in outside markets. Tenn
peratures over the belt were favor
able but Southwest some complaints
are heard of too much rain which is
Keeping the crop in a green and sap
py, condition. The decline i'm cash
corn for the past week has relieved
the tension in September to con-
siderable degree but at the same
time the uncertainty as to the out
come of new crop contradicts the adj
vice of selling December and May
corn short at the prevailing dis
count.
Oats-Heavy lquidations in the
current month was the feature in
this grain, cash oats were weak at
to lower, what most. completely
eliminated the premiums that have
been paid over September. Receipts
are light but the cash demand poor.
Rye-Future had heavy tone de-
lspite reports from sea board Of some