The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-03-16
MAY WHEAT TOUCHED or 1910.
The. Buyers for Export Jur,p-d IN and the
Price Rose to 62 Is.

Thea Buyers for Export Ju~,p.d In and the
Price Rose to 82 Is.
Wheat broke away from its old m oorinRs
Yesterday and made new record for low
prices. May wheat at the Produce Exchange
dritted down stream until touched 81 1896.
whish was exactly 7-l8c. below the previous
record for cheapness A year ago It was ~ &C.
Tho market shot down when q report came
from Cincinnati that tho Government esti-
mntc OF tho last crop should have been about
$50 5000 bushels instead Of 396. 900. 900
bushels That pleased tho bears and took the
cour age all out OF tho bulls.
The Chicago bears have been accusing the
Government OF unierestin; atinR tho crop for
several years past Ex-Statfstician Dodge
says that farmers wouldn't give the Govern
ment Information in regard to the yield; that
they acted on the advice OF the Farmers Al
lance. which says that IL is preiudicial to the
interest OF tho farmers to let the actual yield
OF wheat DO known to the world.
The Cincinnati statement following hard
upon tho bearish Govern m ent report OF last
Saturday was q bombshell tossed into the bull
camp. and there was q lively scampsring to
get out. Scalpers here and at Chicago were
cunning for stop orders and at one time there
the market was in a semi panicky condition.
The only buying for some time was By shorts
and the holders OF puts" The foreign news
was not at all encouraging. Some OF the for
eign houses herr. sold futures. Mr.. +. Cot
trell was a seller. Mr.. NJ, L. Mitchell hitherto
cage bowed to what appeared to DO the inev-
liable. and sold.
The Western markets were all slightly
weather at the West was mild and sprinHlike.
The crop, sdyices were favorable Bears think
there will be more than enough wheat to last
10 soek = q oven ere 2sSsSGoq S":ss. Wasss
here now jump at a sixteenth. and the " chss.
ers OF eiehths are com paratively big men,,
to Of cent. took hold With viii viii and Fought
fully 100000 bushels. largely for Portugal. but
partly for other Continental countries. and
buyers were Power. Son a Co. Alden n Co.
stutzeE \ Co., Henry Hebert Co. and Nil;
that Philip ID. Armour was one Of the best
buyers there to-day: that 10000 bushels
.prlng wheat there is now on a working basis
for LIVERPOOL trading; What are termed the
to have ovsrsoid theSserss' and 1 cool oIserS,
ers believe that slight advance would drive
them to cover. Chicago Is certainly playing
The receipts at the spring and winter wheat
mark cts are considerably smaller than at this
stocks in this country and Europe are enor-
nous Mr.. y. D. keam thinks the worst fea-
lures Of the situation is the CON petition from
Bulls. however. point to the big export busi-
ness here YESTERDAY and say that Europe. In
spite OF all the talk TO the contrary will re-
quirs a very large quantity Of American wheat
before the LIST OF August. They point to the
big premiums over the May option which are
being paid here by exporters for No. l North.
ern, M. hard Manitoba. and No. hard Du-
luth. tho range being = to 81. cents over May,
while the discount on May for No. 2 red and
carriers hero took May aud July options freely
yesterday in exchange for cash wheat. Wild
Tumors as to the amount OF export business
done hero were in circulation AT one time, as
high as S0O. 600 bushels being fixed upon by
the Rumor Committee, but this could not be
confirmed.
The feeling last night was that continued
heavy buying by Eur"pe is necessary to sus.
tain prices Tie Eales OF futures reached
1926. 900 bushels May sold at al l3-l0e to
d2l,e.. closing at % &C.. and july. the other
active option. was "a l-lOc. to 64'.c.. closing
at D4as.F