The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-07-02
wheat CROP 10 TO !.
SMASH RECORDS.
Nov Said Winter YicldSWillll BE 3
Biggest ii History 81
ANN Country. \
ALARMlsT HAS NO 70 HEARERS !
Traders Figuring on Depressing
Rush During Month of
July.
ALARMlsT HAS NO HEARERS l::R:'
.nec,ai q The rImes-1oispatch,

e@ SS8S a82 July. Ss 5%
(speciai To The Times-1oispntch)
CHICAGO, July 1.-And now comes an =
estimate that the winter wheat crop t q
% season Will be the biggest In the history
8SofSthe country. Jones ana lnglis, 3W y
have been heard from before .as 81
culators, have made an ex tended TOUR OF
the winter Gwilcnt region. and claim 70
.Sh a made careful personal examination
81 Tie fields gs They stake their reputa-
lions on the statement that. II sotD1f,thin1g
,luntoward does not happen to the crop
yet uncut, tho total yield Will be Az, 10000
bushels. ..Thc Modern Miller. another 5aur-
th,orlty. does notHtquotc any figures, but
ITS testimony as to the general condl-
@tlons OF the crop tends to corroborate the
roseate view held by the north'wveeas0tseAfnn
experts. t29sg II,
Ii was, indeed, a great week for tho
man who likes toflook at things IRONS
N nor non "a ygpep tie standpoint, Mt least In 50
Ear as the outlook for a&big wheat yield
nj concerned. Az TO the price, actual and
prospective, there wal not so much cheer
Ill the situation but even in5that regard
the aspect Of things may change with
the developments OF the next fortnight.
Alarmist Discredited.
one might gather from the reports Of
# rain lii 1.-THE spring wheat country that
there has been mighty little sunshine
there for weeks. h Falnrmtst continues
Ills predictions fof al ruined crop but he e
E Ii not soaring a. great many&insthe trade
8 sober Judgment in the Northwest Is that.
I@ while many fields In the lowlands have
been damaged by excessive moisture. es-
ps ecially In the Red River Valley. the
situation broadly speaking. is most ex--
t%ccelient. The rains are aot forth a. hati-
ing d & vastly more good than harm.
SO sure have many traders become
Il ii total wheat yield lis to equal, II
not to exceed. thatSof a year ago that
they are now figuring on q depressing
rush Of new grain during the month
Of July and n dropSin values Inasmuch
n az there Is plenty OF old wheat left oyer
and advices from abroad are indicative
OF nBl good crop there. the theory OF q
lower level OF prices has substantial
foundation. l5sf t
Philadelphia trader declares that. on
the basis OF the present market, corn is
~ I'VE cents, wheat eight centstand oats
twelve cents, too high to admit OF an
export business. He concludes that moth
Ing mat material can be done toward reducing
the Inevitable American surplus until e
large concession In price is made made
Flour Industry: s..! 1, 4s,
Their is. nothing encouraging In the
s8S5 -four Industry. The mills of the North
west are scarcely4running mt more than
half capacity. and the production 1or
8the week was under 200. 600 barrels, q
decrease Of 80, goo barrels Or more from
the week previous. Reports from out
sIde5 mills Indicate that they, too. are be-
$g iinnr operated on half achedule.
N Northwest, wheat stocks there was
n44decrense5 Of 225 600 bushels as compared
With :as5, go bushels the week before and
$500 for the corresponding week Of 1900
Total stocks at Duluth and Mlnneapolls
are nov nearly JIG, 10000 bushels, or two
and a half times those OF the preceding ccd
n, year. 81 SgS
Argentine shipments were 1,s9B. 00 bush
els. or half a. million in excess OF the
Broomhall estimate, hut small as conf
pared with the 2,S9B.00O bushels "a year
8 The figures were &bullish. hut they
did not provoke much OF q response from
Europe, which is drawing heavily on
Australia for supplies. Canada bids fair
to be- big stumbling block In the way
o sAmerIcanf export trade after the mid
die OF August. IHieS crop prospects are
heralded from the Dominion. enthusiast
insisting the record will be broken by
q wide margin. B8@laSa
Corn.
Corn above the half-dollar mark is stu
excellent property In This market. Blas a
that might have been jumped at In pre-
vious years by the farmers are treated
with Indifference. There Is a good move
ment OF corn compared with h 8it
has been for several months. but it was
not enough to Increase stocks, which are
so4light that cash corn and the July com
nand a premium over the deferred
futures. Unless there isf: greatly on
larged movement and signs Of Nacclimu-
Eating stocks. September probably WI!
hold its own. the new crop not being
weather Is viewed differently by different
traders, The fpredominance Of feeling ia
that, sunless too long continued, the hlgh
Temperature and plenty of sunshine VIII
helnErather$than hinder corn. Ptt8trans
actions indicate q considerable short In
terest. Export business 70 inconseauen-
tisl. a& Fl .&3s5Sj
Oats.
Oat are asking heather aid nor quar-
Ter. being a%bundantly able to take care
of themselves and make a good show
ing, The weather Is not OF the best,
having a. tendency to force the heads stc
maturity ahead of the normal schedule,
Country offerings are very light, and
the OUTLOOK 10 tnHt ftHe iHose'ueHt II HuW
oa ts Will be later than usual this sea
son Stocks are light and we'll unde,
those Of last year, Good shipping De,
fmand, Is depicting them. The market Is
sensitive to anything that threatens FUR
thor togreduce the size Of the crop
5 Provisions. 5s .as
Shipments OF product are the 9feature
Of the provision market being of such
proportions as to excite remark, However
stocks of lard are expected to show ar
excess OF $1,000 tierces tomorrow and
rlhs we'll over 100000 pounds, The bla
packers still maintain q bulllsh attitude
although not meeting With great succesl
In boosting prices that are hish enough