Capital journal. (Salem, Or.) 1919-1980, 1920-12-02
Grain Boonls;;
Local Buyers
Holding Down
Market Here Sl.15 to
Sl.20; Claim Farmers
are Holding Wheat;
Little Selling

ID. il
turns in the wheat market to-
day attracted unusual notice.
AT one time prices showed an
extreme gain Of 1O1a to IL.
cents a bushel as compared
with yesterdays finish, MarchW
delivery touching $t.06N.
Sudden demand for export wheat
due to the reported ruined crops Of
wheat yesterday caused
a sudden bullish movement on the
wheat markets everywhere.
Local dealers, claiming there Is
approximately 100000 Bushels OF
wheat being stored by farmers in
the Willamette valley look forward
to heavy selling at the increased
prices.
Prices paid by the local buyers,
they say will not. however. be iden'
tical with the Portland quotations,
but will range at figures much low
er. Salem buyers claim the differ
ence is to cover the cost of grad
ing, packing, shipping and cover
losses which are liable en- route.
Several local dealers have ceased
buying altogether until they are
able to study the markets more full
ly but others predict hike and are
buying.
Exporters Pay Premium.
According to reports short sell
ing exporters are paying high pre-
miums for deliveries and 1t Is local
ly expected that this will later bring
a reaction in the market.
The highest local buying Is s1.lb
to s1.20. Hard wheat flour is be-
ing wholesaled locally at $3.50 and
soft wheat flour at s8.4o per bar
rell. Portland quotations yesterday
were: Hard white, LEO; soft white
ss1.45 white club, $1.47 hard win
ter, $1.45; Northern spring, $1.43'
and red Walla, Slab Receipts al
Portland yesterday were reported
az 56 cars as compared with q
cars OF. year ago Local dealers
say that little wheat has been ship
ped from this vicinity
Chicago Market High.
Chicago markets yesterday show
ed an increase of 5 to 6A cents no.
gain, with December $1.S2 e
s1.s2h. Portlana markets nsvs'
raised 4 cents on white club, II
cents on red Walla. and cents OF
hard white, soft white, northern
spring and soft winter.
one flour mill in Salem yesterda.
reported that not more than fift'
bushels Of cheap wheat has beei
bought by them, and that flour J
still being manufactured from tn
wheat which cost them betweel
lsl.65 and $2.25 per bushel- Flour
/ however, is selling on basis Q
manufacture from $3.50 wheat.
Some of the wheat which tn
consumer is buying now In the forr
OF flour at $3.50 to $2.90- per sac
| Is wheat which cost the mills $40
and $2.25. According to one mi
owner, flour mills throughout tn
Pacific coast states are losing NOR
ev on the manufacture of flour
1.-THE present time. and many Of thei
Iare offering wheat for sale at $1.b
land $3.50 in preference to mani
featuring 1t into flour because
the added loss which 1t Is suppose
Ito be entailed.
Local Dealers Warning,
/ Dealers in grain here are warrin
4 over the price question as apple
Ito the market of wheat. One dea
err here is said to be buying v'he;
at the market less rs cents per bi
jshel and Others OF IL CENTS urd'
1.-THE market. Grain men couter
THAT wheat which is being sold c
1.-THE local market now is large
Third grade wheat weight IS pount
to the busheI. and that liz the OF
point they agree upon.
!. Valley wheat, according to tho'
who have bought the little of
|. marketed this year. was practical
!, ,lalI second and third grade whea
with larger percentage of thil
II grade than before.
81 All grain being shipped from =
/ lem to the Portland terminal
X. O. b. Portland. or in other word
1.-THE shipper pays the freight, stan
!, the loss of weight and any damal
5 incurred en- route.
II Controversy has arisen over q
difference in market ouotatio
land the prices paid in Salem I
wheat. Millmen. however. lay Il
las due to the fact that market =
} ports are all based on "termins
value. From the terminal Walt
e the cost of cleaning. sacking a.
2 transporting and selling by grade
to be deducted by the Salem br
ers, according to local buyers
Gefscr Explains.
p. W. Geiser. manager OF I
Cherry City Flour Mill. said yests
I dav that an average figure OF
: duction to be figured by the farl
{ ers from the reported market pr
: OF the terminal is Is cents per ;
SheI. This amount covers handii
and shipping OF wheat. gradii
cleaning and loss in transit. For
stance, IL the market price
wheat Is reported in Portland
) SIPS. the local mills cannot affe
81 t9 nay more than 81 or a slif
e margin better. depending wholly
:, the grade of the grain. Other 10
J. dealers claim II cents mar
9 enough to ,cover handling but II
ik..,~ s-f>.~.{rf f,tt-fnr
III During a recent high wind
= <---r,.. - nroTtarafa & Van