Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-08-26
FINANCIAL AND COMMERCIAL.
THE GRAIN TRADE, CROPS, &c.

The Cincinnati Price Current OF August 10th
says:
! weather conditions have been favorable for
corn to large extent the past week, and the
crop has somewhat improved in average con-
ditlon in States east of the Mississippi. and has
evidently not deter grated west of that line.
The outlook In Ohio Is fairly good. but not
Without drawbacks in various districts In
Indiana medium crop is now practically as
sured. In Illinois there has been decIded
Improvement recently In many places where
the situation had become critical, and fairly
good crop Is indicated, although there will be
a material deficiency in many regions, notably
In the southern part of the State. In Iowa the
crop is more or less back ward in growth but
promises well and is now doing we'll over
large proportion OF the area. In Missouri,
Kansas and Nebraska the condition of the
crop Is uneven much of It unpromising, some
otit fine, and as whole indicating fairly good
results In the absence of serious drawbacks
later ON in the season.
The later information supports previous cal
culations In regard to yield OF winter wheat,
and as whole gives encou ragement to full
maintenance of expectations concerning the
spring grain production. In the Northwest
there have been some storms. doing damage
one, and the reports are more positive than
previously in favor OF large vi cid.
That this country will surely have 200 eco 06O
bushels of wheat available for export from
this years crop is now practically an assured
fact and that this may be increased to 225, Co.,
900 bushels Is easily within range of possibili-
ties.
The Canadian crop OF wheat, including Onta-
rio, Manitoba, etc., maintains encouraging
promise, and the production now seems likely
to excesd any previous year.
The past week has been one of surprises and
excitement In the wheat trade-prices ascend
ing to point not looked for at this Juncture
by the most enthusiastic bull trade. Various
influences have contributed 10 this end, per-
haps the most potent being the eager buying
of spectators who were short on the marke.-j
and the short interest appears to have been
much greater than generally counted on. The
reaction was quick and severe. The specula-
tor is doing his full share this season In boosts
Ing prices OF wheat, and the American farmer
will not be smart If he fails TO secure the bene-
fit of 1t.
at Chicago September wheat closed a week
ago at 94H-the highest on Thursday was 95
on Friday eS on Saturday 1861. on Monday Ill,
oh Tuesday 1929. ON yesterday l02. at which
the market closed. For December the closing
a week ago was SO. touching 975s on Thursday,
100 on Friday. los on Saturday, LA on Monday.
Il41l on Tuesday. and closed yesterday at 1875
the highest for the day.
The corn market at Chicago was unsettled
and generally sympathised considerably with
the excitement in wheat-September advanc.
ing from sos q week ago to 60 on Monday
closing yesterday at IS.
Wheat receipts at primary markets were
Gill 900 bushels for the week. against 500. 200
the preceding week. and 2 43l 900 last year.
Corn receipts were 100000 bushels. against
2. 400. coo the preceding week, and 2707,O0O last
year."