The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-05-28
BIG CROP SCARE
ON GRAIN MARKET
Wheat Trade Beginning to Show
Active Concern About Safety
Of New Yield.
RAIN IN TIME, sAaEs SAY
But Situation is Doubtful and the
Weather Owls Arc Busy
With Predictions. =
RAIN in TIME, sAGEs SAY
Especial to The Times.Dlspatch.)

II
CHICAGO, May G.--WhIle tic wheat
trade In this country is beginning 10
show actual concern about the safety
OF the new crop, Europe Is for the most
part serenely Indifferent to the cries Of
distress that continue to come from Kan
sag, Texas. the northwest and other
quarters OF the surplus producing coun-5
try. Supplies abroad are ample for cur
rent needs and the conservative buyer
and there seems no rcason why The IN
flow OF wheat should not continue IN
SUFFICIENT volume regardless OF the great
American republic. There was, however,
sharp falling off In the shipments
from Argentine. the movement for the
week being not quite 2.o00.00o bushels. a
continuance OF shipments on that scale
would be likely to start things going
abroad.
II was another week o. weather talK'
end the whole gamut OF the grain trade
was affected thercby-wheat, corn and
oats Early In the week there was thor
ouyh alarm lest the more lugubrious
complaints had a very substantial basis.
BY the end OF the week, however,
copious rains had fallen over q great
deal OF the winter wheat area and 1t 10
the belief OF men who have obse
meteorological conditions for maSy years
that except In a limited territory the
moisture came In time to avert the dis
aster which has been presaged by the
weather owls.
Surplus Of Moisture.
Kansas, Missouri. Nebraska, Iowa, I'LL
7ois have been favored with good fails
OF rain. Before they had time TO soak
into the ground attention was attracted
away from the winter wheat belt 20
the spring wheat region. There, 1t was
said, too much run had already fallen
and that there was imminent danger of
great damage from surplus OF moisture.
There was also talk OF too much precipi-
tatlon in Texas and the far southwest.
The harvest Is On IN part OF that
region and excessive rains are said 70
have generated considerable rust III
communities where the grain is not yet
fully developed. Where the work OF har-
vcsting was already In progress the cry
was that the wheat was too wet to cut
or was going into the shock in bad con-
dition.
I, is likely that the discussion this
week will hinge upon the proposition
whether or not the rain came In time
IN Kansas and elsewhere TO insure
over, that with Kansas put out of the
running in damage reports certain In
terests will try to convince the trade
that there has been much greater dam
age east OF the mississippi
While the shipments from Argentine
showed a falling or Of 10000 bushels
as compared with the movement the
previous week, they were still 10000
bushes in excess Of what they were for
:, ..x5t.,- ,nxa1y p n M
tho other hand there was an Increase
movement from India Along with this
news came cable from Broomhall that
the new crop in the Punjab district would
exceed that OF last year by 1S4oO,co9- In
all OF India the indica lions are for q total
Weld of 2SS.0o0nDo bushels as compa red
with cso.Op0,0o0 a year ago and SGo.O0O,-
20 bushels in 1904.
There was n helpful influence In the
Bradstreet report that the weeks clearan
ces OF wheat and -four amounted to 1884,
900 bushels This showing was satisfactory
considering recent experiences but there
was nothing In 1t to cause even tenn
porary furry.
Output Of Flour,
Contrary to expectation there was a
small decrease In the output OF -four
from northwest mills week before last
and there was still larger falling off
last week. although the product turned
out was over $1,000 barrels ahead OF tina,
OF last year at the Same time. %:,ere
was reason to expect tina with the bulge
in the price Of whae and the doubtful
prospects of the winter wheat crop, the
-four business would expand, hut the con-
dillon referred to seemed to have had
the opposite effect The only way to make
n good showing In the trade was to let
buyers have -four at quota lions less than
the equivalent OF the full advance in
wheat prices
Special reports from 50 mills outside
OF Duluth and Minneapolis, with total
daily capacity of sS,6Y barrels, showed
that in the week ending May 20. they
made 1850 barrels of flour, representing
consumption Of approximately CPS 600
bushels of graJs. against $3.50 barrels
Hlsst year.