The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-05-14
CROP COMPLAINTS
INF Press ma Make [ !. {. I.
Lively Trading and Sharp Adj
vance i'll Wheat Latter Part
{a Of Week.
sPEcULAToRs ALSO At WORK
Effect Of Government Report OH
Dcalings-Gencra Conditions
INVEST.

I - 2
iii West.
(Specinl to The Tlmcs-D lspatcl.)
CHICAGO, May 12.-No sooner had the
government crop report on wheat come
along with It's showing OF 45G, 100000 bush
els for tho winter wheat yield than the
unofficial crop reported made himself busy
with cries of drouth and freezing. The
government figures, of course, took ac'
count OF conditions only UP to May list.
Now 1t Is being set forth with much
urgency that 2. deaf Of damage has bean
done IN the fields In the last two weeks
and that Injury Is still being Inflicted.
There is strong suspicion that some OF
the paint" for the stories Is furnished
by Industrious bulls In the Southwest, but
that there has been some bad weathe"
is generally admitted by the trade. The
worst Of the complaints Just now are
from Missouri and Kansas. They have
reference to drouth, which seems IN sec
tions TO have been long sustained and
hard on the growing grain. Messages
came from Kansas Friday that over
large area in that state the earth Is dry
and packed for ten inches III depth, and
that the estimate OF 100000 bushels
mado by tho Millers' Association few
days ago will have to but cut In half un-
less soaking rains fall within few
days.
Not Bearish Item.
5 Tho government report, while showing
tho average condition for all tho States
to BIO two points higher than tho April
report. was not n beariah item for aie
trade. Tho area abandoned WAS 1,7lS,-
Oo0 acres. OF this $4,000 acres were In
the winter whcat-producins States, where
the ground given ,,p5cannot be devoted TO
spring wheat as is done in parts of Wash
ington. oregon and California. The nd!.
Gated yield based on the government per
centages falls 100000 bushels below the
prospects OF month ago.
Tho May condition year, ago was the
highest OF the year, 25--and promised
a yield of 100000 bushels but 1t had
run down to ST. points at harvest time,
with an actual production OF 428.oO. 900
bushels. The crop Of 1905 thus far seems
to be going the same way There was q
sharp falling OFF from the December start
q slight Improvement during April and q
general crusade OF crop complaints dur
Ing tie early part OF May.
Since the first OF May the actual injury
sustained by wheat has been more fully
disclosed than heretofore, because It Is
the period OF rccupcration from winter
coincidence and the time OF putting on
green or leaving 1t off.
Considerable Speculation,
That the trade had become impressed
with the crop complaints was evident
toward the close of the week, when there
was the livelcst market and the sharp
est advance that has been scored for
some time. 1t was not all matter Of
weather and crop prospects, however.
There was n potent speculative interest
at work. For Instance. large quantity
OF wheat Is on It's way from Duluth to
Chicago. being shipped By rail at
loss That is normally bad business
proposition, and it comes about from the
plight OF the bear element which is try
ing to find the easiest way TO fll IT'S
May sales without rcsGrtlng To the en-
barrassmcnts Of the open market. mas
much as the cash wheat Is an excellent
property and worth premium, the cx-
pected deliveries will entail no hard
ships on the holders OF this months con-
tracts They can dispose of their hold
inss to micrs at good terms.
Adyiccs from the northwest, the center
OF old crop news, had something of n
bearIsh cast. There was an expansion
OF the nour trade to presentnble proper
tons a steady decrease In the stocks
at the commercial centers and falling
ar in receipts The shrnkage In stocks
amounted TO nearly or quite LOO, COO bush
els and there were conservative predic-
lions that the dwndllng Of wheat Will
no rapid and steady from this time on to
harvest Local and country millers, It
is reported from Minneapolis. are buying
( wheat In store as the current arrivals are
insufficient to cover their needs for the
1our business. From North Dakota
came a report that the wheat IN mat
state is about all shipped out There was
also talk that London was getting snort
Of Manitoba grain.
Corn.
I.atterly corn took the center of the
speculative stage, and on Fr'day thete
was a sharp advance, which was not un-
exnected. Those who have sold corn for
delivery this month arc in DANGEROUS
,,li,,ht In order 10 cover they had TO
hid IN prices sensationally. as there were
fcw who had any May corn to sell, even
at the high point reached by the price,
Stocks n this market are practically al
owned by shippers and are small, l,hese
ah,nners have either disposed OF inc
groip in The east, or expect to do so,
no,v that navigation Is free from lahor
handcpps. Meantime there Is scarcely
any corn being offered from the farms
and tho movement from the country SUI
t,ons is at a very low ebb the heavier
receipts, which were expected WIN pet-
ter weather, have not nater'al'zeu' ~.
farmers still being tnc busy to do any
marketing. With corn at or near the 80
per cent mark following the biggest crop
On record. It would seem that the lna're-
1nent to sell would outweigh even NY
desire to take care OF the ne'as lor Nv
new crop. The situation strengthehs tne
theory that consumption in this country
has expanded more extensively than me
trade generally appreciates,
It is even possible that there IS not
hit more corn In the country than inc
country will need before next rail- IN
that case the larger shipments and crop
nrounects in Argentine are not worri-
some.