Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1898-06-09
GRAIN TRADE AND CROPS.

The Cincinnati Price-Current of last
Thursday says
There is little complaint in regard to
crop conditions reflected in the CORE
spondence to hand this week. The
been somewhat lower than usual for
the time of year, but this does not ap-
pear to have been a disturbing char
acteristic. The indications in regard
to the corn crop are not less favorable
than a week ago-in fact they appear
to be somewhat more assuring. The
situation, however, is one of belated
start, and throughout considerable
part of the corn belt is lacking that
condition of growth which is essential
on the first of June to give full salts
| faction in the situation.
Nothing unfavorable to any impor
tant extent has overtaken the wheat
crop. and in many instances there has
been continuance of improvement in
the promise in compassion with pre-
vious understanding of the situation.
If nothing of a serious nature interferes
with the progress of the crop to har-
vest it may be expected to considera-
bly, exceed last yeaI's production, but
it is not reasonable to count on the
yield which some sanguine observers
have of late been suggesting.
There is evidently somewhat bet
ter average position of the oats crop
the situation suggested short time
back. In various localities the reports
are highly satisfactory, but conditions
are irregular. The weather of late has
favored this crop, and fairly good
outcome appears now probable.
Thora ic continual nromioa nf q
large yield of hay, and pasture lands
are In good condition. The potato
crop has secured good start in most
sections. The indications continue ia
vorable for abundance of fruit.
In the wheat market the changes
within the week have been quite strik-
ing, and illustrate the unreasonable
ness OF speculative sentiment under
abnormal conditions. There has been
no rational ground for the extreme
figures recently reached-and the very
decided reaction is suggestive of the
possibility Of the depression going to
an unreasonable limit, In fact the
Chicago future market for wheat at
the close is so greatly in contrast with
the recent position, and at point not
seemingly high even under the splen-
did promise of the worlds crop, in view
of the depletion of supplies and the
early requirements of new grain, that
there might be expected with reason
| more of chance for reaction upward
than in the direction of still lower
values.
The milling demand for wheat in
this country in June is ordinarily of a
limited nature, and there appear to be
ample offerings of flour, so that pinch
ing conditions are not likely to over
take the trade in the near future I'M
der any circumstances likely to arise.
In the corn market there has been a
moderate decline, but there is much of
confidence underlying the position of
this grain, and likely to continue, IN
til the new crop conditions are more
positively assuring than it has been
possible to regard them thus far.
July wheat at Chicago closed
223c below the highest point of the
week, 1c above the lowest point, and
204c lower than week ago.
Corn at Chicago for July clos
ed lie below the highest point of the
week. &c above the lowest point and
lie lower than a week ago.
Wheat receipts at primary markets
| were A. $780, 600 bushels for the week
against 6,O15.000 the preceding week
and 2,S05, 900 last year.
Corn receipts were 5,152,000 bushels,
against 5.122,000 the preceding week,
and 4,583.000 last year.