Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1895-08-07
COMMERCIAL AND FINANCIAL
THE GRAIN TRADE-CROPs, sc.


The Cincinnati Price CarYent of August LIST
says
1.-THE shortness of yield in the winter wheat
regions continues prominently in evidence,
with irregularity in quality, the poorer grades
predominating to great extent. In southern
districts of Illinois, in portions of Missouri,
etc., the excessive moisture has more or less
damaged the grain.
From the Northwest the infor nation indi-
Gates much loss of grain from hail storms,
but the extent of such conditions is not an
important part of the whole area. There is
much to indicate that the recent sensational
statements concerning the prevalence of smut,
and damage otherwise, have been exaggera-
tons. and that the situation justifes expecta-
tons of an aggregate production in Minnesota
and the Dakotas exceeding any previous
year.
While there are portions of the corn crop
area which have not had the needed relief
from rains, and curtailment in yield is proba-
BILE, the greater part of the area is in splendid
promise, and it is not too much to confident
ly expect the general result to exceed any pre-
vious year. A large portion of the crop is
now practically assured, and it appears proba-
BILE that the grain will be available for feel
ing purposes somewhat earlier than usual in
considerable portion of the area.
The returns concerning oats are decidedly
irregular. In many instances the later in
| formation is somewhat less favorable, especi-
ally as to quality of the grain. This is appl-
cable to the central and western regions
Against this is much of information IN the
Northwest indicating heavy yield so that on
the whole the outcome is not likely to be es
sentially disappointing in comparison with
recent calculations.
l The recent rains have greatly benefited
grass lands and pasture, and have been favor
able for yield OF clover and timothy seed, as
we'll as for potatoes, millet, alfalfa, etc.
| The grain markets have manifested lack of
sufficient strength to maintain values. and
| the week closes with decline, which IS quite
decided for wheat and corn, at Chicago, IN
comparison with q week ago, while oats also
suffered some decline. Just what can be
brought into evidence to justify calculations
of any striking advance in wheat prior to the
active movement of the spring grain is not
plain, if the existing outlook with reference
to yield is to be maintained.
September wheat at Chicago closed &c be-
low the highest point of the week, &c above
the lowest point, and 2sc lower than week
ago.
Corn at Chicago for September closed DC
below the highest point of the week, 4c above
the lowest point and &c higher than week
ago.
FINANCIAL.
The Financial Review of Henry Clews of
August 3rd concludes as follows
These are factors, however, which are not
exerting much force at present. Just now
the market is in control of strong hands who
see in the excellent business outlook and the
prospect of big corn crop the best of argu-
ments for lifting the market to a higher level.
The stubbornness with which stocks are held
is much in favor of such manipulation.
When stocks refuse to decline, as they did
with remarkable resistance in July, the trad
ing element who are chiefly interested in &C
tivity are apt to try their success in putting
them up still higher. There are not few
large operators who would like to see the
market have an additional advance, so that
better reasons for a reaction could be found
than at present offer. August is frequently a
month of rising prices; and while the more
distant future demands caution, it would
give us no surprise if those now in control of
the market succeeded in obtaining better
prices before general realizing sets in.