Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1897-02-25
GRAIN TRADE AND CROPS.

The Cincinnati Price Current of last |
Thursday says
Current information discloses no new |
feature of special note. The past week |
has been one of comparative mildness |
of temperature. and much of the snow
in the west has disappeared. The
ground is we'll provided with moisture,
which is fayorable condition for the
years crops. The growing wheat crop
is without change in general position,
and continues to maintain chances in
favor of good results. The marketing
of wheat is still very limited, without
indications of notable enlargement in
continue large, and at low prices. This
grain continues to be spoken of as
needing more cold weather to dry it
out, in much of the crop west OF the
Mississippi, notably in Iowa, where it
is feared there will be serious damage
in some locates when warm weather
comes if such relief is not had.
The wheat trade has been change
able from day to day during the week
without striking variation in general
position of values, closing at Chicago
1c lower than week ago for July, and
| 14c lower for May If the wheat sup
ply is equal to satisfying home require
ments comfortably and the usual ex-
port demand until new grain is availa
Bile there should be little reason for
lower prices for July than for May, in
view of the fact that the strengthening
features in the market must for the
most part if not altogether be based
on the outlook of the new crop, rather
than a lack of sufficiency prior to that
time.
| A Liverpool correspondent of the
Price Current who has displayed much
of intelligent calculation as to what
should be looked forward to in the
wheat market, for some years past,
and whose comments the last of No
vember were quite in contrast with the
strong sentiment then prevailing in the
trade, in letter now received takes
Iquite changed position. In his former
Communication he said: "There is un
doubtedly all over the world larger
area than usual put under wheat, so
that if prospects next May be brilliant,
that month might very well see con-
siderably lower range of prices. To
nv mind the chances point that way,
and PRETTY distinctly" In his com
: ments now received, he recognizes the
disappearance of the expected surplus
! from Argentina. the doubtful outlook
of the crop in France and Russia, and
the chances for crop scares in this
country. as calculated to justify a de
cided change in calculations as to the
future of prices. He says: "Bear 4spe
iculators should therefore satisfy them
: selves that the outlook in May will be
t such as to induce consumers to buy
q from hand to mouth in the face of daily
q diminishing supplies. This is of course
r possible"
The flour trade has continued to re
fleet quietude. but a fairly good dis
! tribution is steadily going on, and ther'
I are some indications offs revival OF de
!, mand for wheat at the centers from
] some of the interior mills which hav'
not been purchasing to much extent il
the recent past.
:, May wheat at Chicago closed &c be
IS low the highest point of the week, 1
3 above the lowest point, and 1ac lowe
l. than a week ago.
e Corn at Chicago for May closed {
below the highest point of the week
&c above the lowest point of the week
; and the same as a week ago.
4 Wheat receipts at primary market
# were ], 481 600 bushels for the wee
- against 100000 the preceding wee
and 3,242, 900 last year.
Corn receipts were 4.57S, 900 bushels
D against 1921, 900 the preceding week
z. and 1857 900 last year.