The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-06-29
TEE GRAIN
Prices Lower-Bearish wheat Crop ne.
Dorts-LOng Liquidation.

Wheat declined partly owing to favorable
harvesting. weather In. the Southwest. re"
ports of better, weather at the Northwest
and II. v. Jones's estimate Of the winter WHEAT
Yield OF 40. 900. 900 bushels az against 1sa'-
00o. 900 last year according to the Govern
ment estimate. Mr.. Jones, however. rom
tends that his present estimate really indicates
the largest crop ever raised. There can be
no doubt that his figures carried a certain
weight In a dull market inclined to sag In
any case. But the effect was not very marked.
The, market was so lifeless that nothing
seemed to affert II much. The mere inertia OF
a foRbound, speculation. In which opinions
for the moment are not az a rule very pro
nounoed either way. was a sort OF protection
In a big. broad market In which the outside
public was active the case might have been
different. Among the largest sellers early
were Lake and Logan 4 Bryan. North
western prices declined in spite Of talk among
bulls here to the effect that hot weather IN
that section following the rains Is likely TO
be Injurious.
Liverpool closed weak with prices unchanged
to I'd. lower. Paris closed nc. lower TO &c.
higher. Budapest was unchanged.
A Chicago despatch to Mcintyre & Co.
said; General selling of wheat was by tired
bulls and traders on Jones's estimate OF
40. 900, 600 bushels Tor the winter wheat crop,
which Is 10000. 900 more than expected"
liverpool, 1t was noticed, changed but little.
That market was to some extent unde the
Influence Of some unfavorable reports az to
weather conditions at the Northwest sent
from this side. and also of the scarcity OF la
Plata offerings. The Cincinnati Price Cur
rent says the winter wheat harvest Ia pro-
crossing under favorable conditions and
that the. yield is exceeding expectations.
Tho clientele OF Watson & Co. OF which II.
". Jones 10 @, member. are supposed to be Tor
the most part short Of the market. Cover
Ing of shorts had a ~steadying effect later on.
|, Sidney Love 4 Co. reported new wheat at
baltimore with less garlic In " than last
year and that Philadelphia was offering new
No. red at the New York price C. If. Europe.
July shipment. This firm said: we get the
following from Montreal: Our Liverpool
mately 200 to 30 million bushels lie IS than last
SSs sa' f HSSnd MSois OF II hu1 RH" is1ssly s s.s CHAN
last year. The Significant fact in 90 injection
Sith The foreign adyices is that ne s shortage
oom m shs enp Sseoadsin HSIin'sF'e' anu 'eou''' al
Xbullish feature, too, was the fact that the
Argentine shipments for the week were cstI.
last week and 2,noi, 200 last year. Mime
apolls reported a decrease IN stocks there Tor
f1osr days sfom Of tb isG, goo Ses ssrd; T rere sh 41.sCc bbi 81
| Some Minneapolis advices reported uppre-
hension there Of damage, from black rust as
a result Of present weather conditions.
Rnt for the time being general sentiment
favored a decline. and it came. The selling.
however, was not very aggressive, despite
the bearish news from the Southwest. That
there ia considerable nervousness over the
spring wheat crop, whether E%roun ths sn or . nov,
t Il mo' as so ni Ire 9tn' intima aieda' Is a narrow mar spS' pro-
f~essional affair, and prices are easily In
fuenced by a small preponderance Of orders
! Pea, ooo bush. against 2sa. 900 last year. The
seaboard cleared 10" bbls' Of -four and
Me- Messrs' Lake Clifford, Hellman, Kidston.
Darrell, IO..Brien and bloom, were sellers,
Messrs. PrinRle and Kneeland were buyers.
tSe SSrnt SSns ana s S;GSo s s9ssi psw as whest L.
Reports to the Tort1usstern M~iie&-Kansas
under highly favorable conditions. 70 re-
ports Of damage from rains Of last week.
In L. n ,st part Eth q the s sta Ns5 rains he gPssti to
Observation-Disclosures returns very salts
st. iI,ouis-"Raini has delayed harvesting
oss;6ni dsu in ot this ]y vicinity bY G.r as gst b no
fb, BE sso sAst th' S sss''t Wheat sal thf e nee Ses I'm afa w u
move freely. and consists mainly OF No: 2"
in the Ohio valley. Harvesting is progressing
satisfactorily, Reports are all favorable
for good quality"
II CORS SITUATION.
Prices of corn. though rather firm for a time
in the early trading declined later, The
gSeatheE was GENERALLY favorahle and the e
able weather and the outlook is encouraging.
Liverpool advanced early. I'd. to I'D; owing
TheeTTes Was - a good demand for La Plata caf-
goes. 1t closed unchanged to I'd, lower.
however, Moreover. long liqaidati9n has
better weather. The Rosenbaum Grain Com
pany bought September. Country accept
ances were light. but this fact seemed to have
The estimated Argentine shipments for
the week Were , heavy s9s Coo am n Maap .t to s'a goo 'o COG
10000 bush; against 1000 last year
Chicago received ~ cars. including 2s7 Of
contract grade Chicago receivers we're
,Messrs. Kidston, Logan and Friedman
Chioaeo-Trouble with corn this morning
40 far is that crowd almost to a man called all
their corn last night. A market was so strong
p wasH Ssil t the mln sae @ar %sny op ssed ' %Ith
little demand from outside and scalpers
playing for 9 decline values soon rave way,
demand will again show Itself.
THE OATS FFATrREs.
Oats advanced early, bit soon followed
other grain downward. though the Price
G ti%s. It vs ssfd' r slSe o sfs c sH%e is sn dssld led g
short. but somewhat improving" Oats were
affected more by the weakness in other
grain than anything relating to the oats
situation itself, for that. in some respects at
least, was considered distinctly bnllish, The
weather, however, was better.
Cash prices at the West we're higher. with
a good demand. The market. however.
was influenced mainly by the depression In
wheat and corn. Bit for the weakness in
those cereals not a few think oats would
have ad vanccd Chicago received Ils cars,
including 40 Of contract grade, and expects
l25 to-day.
Wheat. on the spot was dull. No sales.
No. ? red, export, &C. over New York july:
No. I Northern Duluth aAc. over. No. |
Northern Manitoba. aiHc. Futures closed
Prices as follows
opsn- High. Lou Got Pres.
July g, s. S. 81 oI 81;
Ssp,smssr '''.. .ss3 81 SssN g sss
Oats were quiet on the spot. Sales. 10000
bush. Natural white. on track, 80 to IS lbs,
I8645c.; white clipped do. 80 to 3s lbs, az
Ian ratrn1 "a 10 ~ The Lan Hnrp me-.