The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-04-02
bull SIDE TO
GRAIN MARKET ri
No Pronounced Development, But
Apparent Trend IN That,
Direction. W.. IA
HEALTHY TONE CONTINUES ;l'''' I
Provisions Still Ruling Strong
Crop News 4 's. Rather Rather
Bcaris11. <
t.,,o,pds,t1 .se,,ttL 9TH o. luloeds)

t.tlo,pds,d -seiutL o,l,1 o. lu1oods)
CtilCAGC, April 1.--lNhent was intro
diced 10 tho export basis ut the close
Il Of last week, anu Immediately there was
brushing up or3buslness With foreign
buyers rho trade is Interested IN Know
4 Ing whether tho incident marks simply
z h casual acquaintance or whether IT ID
K to rlpen into a genuine friendship.
II Is found difficult to differcntlato tho
market movements prompted by THO law
or supply and demand from, those gen
Grated by speculative activity, put q t d'S-
crtmnatvc study Of the general sltuA-
ton leads to tho conclusion ina 'n'
healthier tone impaired to tho n' 'lr'' =
by the government report on reserves l'sa
continued to this time aud gives promise -
d of holding OF for some time. Ihcrc 70
e,out an equal array OF bcarisll ana OF
fl bu,,ish news, Int IL there Is not az
yctuul blazing Of tho way to"alu ny :.
< hul, aide. there seems to be groplnB' y
trend III that direction. s
Much Speculation.
5b There has been n sharp livcn,ng OF 9 sp Ie
uativc interest, and toward inc Close ,,..
s,'I,,,o ,yonk n began TO look seriously
as5sir the New York bulls intended ~
x mako a bold effort to recoup their losses '''e
3sin wheat by stubbornly holding on 70
,rc,E Nav lines ana buying heavily into
Scptcmbcr-an option of the new cr ''p
year. ,..a
n,ination to carry the dca! INTO INC SUI
81 r,cr months. Pit gossip has II ina. WIG
men behind the alleged deal nave pienty
or muscle at their coIlHllahu - ''N''''
AT things interesting.
ono theory now widely held. Is that
ITO Fasteners will take III and pay LOT
All tho cas,, wheat delivered 10 thcM on .,
MAY contracts In the hope Of being able
81 la ter9 on to merchandise the actual gram
under conditions which may save mem
from such loss az would undoubtedly re-
sult from an attempt at the present tilne
To Iiuuidatc their speculative holdings
Ii such case II will be UP to the shorts
10 decide whether they arc to MI their
{. transactions by the delivery OF real
wheat or whether they are to go Into the
pit and cover.
The legitimate features OF the eltlia-
ton urc quite as interesting as the spec
tlativc. The revival OF demand Tor
cash wheat Is expected by many con-
Eerys,tIvc traders to develop steadily,
carrying with a good business in -four
y stocks have witlhstood the strain of three
months OF heavy consumption and &c IS
believed they cannot hold out without
rcplenishmcnt some time. s5 5$
Crop News Bearish.
Buyers OF flour seem to be ovcrfcauti-;
pus on account OF n fear&that the price
or wheat IS destined to 20 TO lower Levels
than at present. For that reason they
nrc giving he millers little cncoura sc.
ment 1.-THE instability OF the market
Is the greatest handicap that the nillers
have to contend WITH" says Min
1lcnpols authority. 'and the majority
seem to be firmly convinced that II u
were not forth tlotrimcnt the demand
would have q more permanent to,,e.
There Is no doubt that stocks in the
hands OF distributors are low and that
tho market IS IN n position for generous
buying If the trade could be impressed
with the feeling that the, wheat market
is not eventually headed fora lower
levcl."
Tho excellent condition of the winter
wheat fields has suffered no recent in,-
Il pairmcnt and 4 he outlook for the whole
field could hardly DO improved upon.
From the spring wheat region comes
word that seeding will commence next
week in the Dakota highlands. ! tho
season DO not too backward tho acreage
81 Is likely To be Increased over that OF
nrevio,is years. Tho only complaints
4 or tho winter wheat are sporadic : ones
from Missouri and Illinois which nave aN.
no bearing OH the main crop PROPOSE
ton. Argentine shipments forHthe week
ran about as tile trade expected them.
hcine 3.66,0o0 bushels or Just round
million In excess or those for the similar
week a year ago. Export. clearanccs o.
wheat and flour were not cloduent IN
y volume, hut some OF the trades were
happily suggestive of what may como
to pass.
Coarse Grains.
There y is nothing particularly new or
interesting in the markets Of the coarse
grains. The speculative spirit is at low
ebb. 1T does not follow. however, tina
& thc legitimate situation is weak because
speculation is slow, Corn seems TO DO
working gradually into Il stronger posi-
lion. Receipts of corn arc light, ana
there is not much prospect or thclr m
creasing soon inc weather 20 . i'nc' ~,
the roads In many parts OF the corn
country are about as bad as they could
he, Al most points consunptivc demand
e absorbing tho little corn that is being
,orrcred .,t prices above the Chicago OASIS,
is coming tho time OF year when
farmers viii be busy With ttcir sprlns
matchmaking corn for the l30' crop.
win that in fun blast. there will DO little
onuortunty to deliver grain to market.
stnr,,s arc decreasing steadily. Prices
of logs arc still such as nronlnt the
rroniest posslblc feodings, with this In
"a centIyo 10 got rid OF corn right at home.
the. trade is u bit uncertain ms to tho
extent Of the consumptlve capacity AMI
tho future Of tho corn surplus hrokers
nre urging purchases on all weak spots
y on the theory that corn Is low enough
10 meet all future contingencies,
Provisions.
stocks of outs are diminishing under
the Influence Of a good southern, East fern
healthy one. hut there arc predictions u
Will turn weak on tho coming OF mlld
spring weather and favorable conditions