Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-05-23
COMMERCIAL And FINANCIAL
THE GRAIN TRADE-CROPs, &C

The Cincinnati Price Current of May 18th
says: =
"The past week has been in some particulars
the most notable one of the year in the
wheat trade. A prominent feature has been
the surprising report of the Govern ment
bureau relating to average condition of wheat.
Another special feature of the week has been
| the positive manifestation of disbelief in the
official declaration, shown in the course of
the markets-Chicago prices having dropped
to point without precedent this season, or in
any other year since the wheat trade became
one of particular importance.
As an explanation for the striking decline
in average condition of the winter wheat crop
compared with the report a month ago the
bureau report gives as explanation the intima-
ton that ''the result of the cold weather in
| March has been shown to have been more
than reported at that time" But the testi-
mony from other sources goes to show that
the extent of injury. so far as can yet be de-
termined, was less instead of more than APP
pretended at the close of March.
Whatever the official statement may imply,
it is not reasonable to consider that the aver
age position of the winter wheat crop on the
first of May, as a whole exclusive of Cali
| fornia, was less promising than on April 1.
The bureau report gives Ohio, Michigan and
Indiana the same averages as last month;
Illinois and Kansas higher, and Missouri low
er, with California reduced from 81 to ga
more radical change than other advices sug-
gest, and really implying that the decline in
the general average was mostly due to the
change in the California figures, rather than
''the result of the cold weather in March
east of the Rocky mountains. The bureau
| figures themselves suggest the fallacy of the
explanation offered for the lower average.
The past week has been favorable for crops
| in all general characteristics. More moisture
is needed in some regions, and there has been
an excess in some other instances, but these
conditions have not been emphatic in unfav-
orable influences.
Corn planting operations are now mostly
completed and under conditions more than
ordinarily favorable and encouraging.
The weeks information discloses further
evidence of dsappointments concerning the
oats crop, and it appears likely that the yield
of this grain will be deficient.
The winter wheat crop is advancing in
growth favorably so far as can be determined
There continues to be more or less fear Of
overgrowth of the stalk to the detriment Of
the grain, but it is not clear that this is more
general than ordinarily.
| Conditions attending the start of the spring
wheat have continued favorably, giving thi
crop an encouraging outlook.
July wheat at Chicago closed 21c below thu
highest point of the week, above the loves
point, and 15c lower than week ago
Corn at Chicago for Juy closed II below thu
highest point of the week, 4c above thu
lowest point, and 1sc lower than week ago.
i Wheat receipts at primary markets were l.,
300, 900 bushels for the week, against ,25S, 00(
the preceding week, and 1851, 900 last year.
Corn receipts were 1859, 900 bushels, agains
2,247 900 the preceding week. and 1.441, 00'
last year."