National Republican., 1883-04-13
SPECULATION In CORN.
The Eagorness Manifested to Get at the Agri-
cultural Departments Crop Reports.
The Stock OF Corn on Hand-Why Corn
Is Favorite with Corner Builders.

Judging from the demand upon the bureau
of agriculture for authoritative estimates Of
the quantity of last years crop of corn yet
remaining in first hands, tits evident that the
people arc consumed with an eagerness for
statistics ON that particular point. The at
tenton of the speculative public is being
directed very largely to the produce and
grain market nowadays and everybody who
has invested in the big game wants to know
how he stands. The corn situation, so far as
il relates to the supply on hand, may be
briefly stated in the language Of bureau
attache as follows:
"The seven surplus corn states, whose pro-
duction regulates the commercial value Of the
cereal. viz, Ohio, Indiana Illinois, Iowa,
Missouri, Kansas, and Nebraska, produced
955,0O0,000 bushels last year, or about 60 pc
cent. of the total crop. On the first of Ma ch
there was ON hand in these states 320000,000
bushels, against 2O0,O0O,0OO bushels on the
same date in 1882 and 413,0O0000 in 1881.
From the first of March to date not less than
125,000000 busnes of this 10000 600 bushels
have been consumed, leaving about 200,0 900
to run on during the next six months 1t
has been estimated that 400,0O0,0t0
bushels of the crop of 1850
remained on hand at the beginning of tho
crop year of 1881. This is u great error. A
large estimate would be 200000,000 bushels.
Last year. the old corn carried over into the
new crop year was loss than 50000,000 BUSH
els, and this year the amount is not likely to
be largely in excess of that figure. The con-
sumption in the western states will fall Off
considerably during the early summer
months, but in the south there will be d big
home demand until nearly the end of July.
The statistician in his last report in discuss
ing this very matter says:
"'Tho present situation is actually worse than the
N hnrn 10
more corn In this belt of states than year ago,
the amountin the principal feeding districts, from
which also the corn surplus is mainly shipped, is
scarcely greater than last year These are the re-
gions that make the prices and available CONNER
cial supply.
heavy New York speculator in grain
gave his views with regard to the future of
the corn market day or two ago as follows :
"The conditions were neverm more favorable
for big corner in corn than they are at the
present writing. The supreme court of
Illinois has lately rendered decision which
virtually upholds corners, and the heavy
operators on the Chicago board of trade will
feel encouraged to take hold and run q deal
just to keep their hands in and let the boys
know they are around and on deck. Until
the change in the rules of that board making
winter wheat deliverable on all contracts, as
well as spring, wheat was the favorite com
modify to engineer u deal in. The yield of
spring wheat was only Is or 90 per cent of
tho NhulS blop' anu ~ WAS lutTtiOTt Gtlhlly
handled. Now, with the entire production
liable to be precipitated upon them, operators
are reluctant to embark in corners
Millions of dollars which are locked up in
pork during the winter months will soon be
released, and as the owners of these millions
do not like to let their capital lie idle they
will be quick to snap at corn or anything else
that promises little more than fair interest.
Corn has been declining for weeks, and in my
opinion the very men who will be in a corner,
if one should develop, have been bearing the
market in order to load up at bottom figures.
Armour, David Dows, Rufus Hatch, Hobbs,
and the other big grain fish, have been suspi-
ciously quiet for q long time and they are due
for break Of some sort. These are only the
views of one man, and are worth no more
than the views of any other one man, who
tries to keep uD with tho undercurrent of
events"