The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-12-03
PERIOD Of
LIFE IN MARKET
Even This Was of the Galvanized
Order-Prices Danced Up and
Down Friday.
ARGENTINE WHEAT GOOD
New Crop Maturing Well-Work
OF harvesting Going On in
Northern Section.

Northern Section.
CHICAGO. December 2-Barrinr few
short periods OF life OF the galvanized
order the wheat market again manifest
ed it's usual dulness. the trade being stu
In q waiting attitude over the December
liquidation. and not much inspired ono
way OF the ether by the news OF the
world
Good nature. growing out % generous
consumption % turkey and Cts table con-
CONTAINS. may have had something 20
do with the spirit shown Friday. when
the price went dancing Up and down with
IN a narrow range. according as the bulls
or the bears got temporary supremacy.
For the first time during tho marketing
season in tho Northwest there was evil
dcnce that wheat in considerable quaint
ties IS back IN the hills OF the Dakotas
end Minnesota, and that tho time has
come fOr n 20 emerge from IT'S hiding
place. During the latter half OF the week
the receipts from the spring wheat ter
ritory were IN excess OF those OF the cor
responding period a year ago. This sit
uation had All the aspect OF novelty. and
~ gave the bears courage FOR a time. but
the speculative situation acted as a damp
er on enthusiasm tending % grow out
OF the commercial status IN the abb
sence OF speculative interest tho bears
lad the better OF the argument
There was a varying influence in the
foreign news The shipments from Ar
gentine were considerably below those Of
the corresponding week IN 1915. the total
being only $1,000 bushels. compared with
lisa On last week and 232S, 000 year ago
The movement from there since January
LIST has been s. 90. 90. as against 1O6. 556.-
90 for the similar period year aco
The government IS out with a new esti-
mate ~ the yield in Argentine this year
II Is now placed at IA 90 600 bushels. q
great drop from the 9lS 600 o00 bushels
suggested few weeks ago. and ut which
tho trade in this country snoered skepti-
cally. Latest figures are 9.0G0of0 above
the Gnals FOR 1915.
New Crop Maturing Well.
The new crop IN Argentine IS reported
authortauvoly rs maturing well. The
work OF harvesting is Ou iu the northern
part ~ tho republic under favorable con-
diuons The movement OF wheat from
interior points. as Indicated by the ship
mcnts. IS slow. The trade feels that il
is now pretty safely advised as 10 the
part which Argentine viii play in compe-
titon FOR foreign business Taking this
conjecture and the December operations
out OF thctrade equation clears uD tile
situation immensely.
with the December out OF the way
said one trader. I believe that the trade
may look for "A sounder tone in general
confidence. The faE end OF "a month al-
ways finds traders on the waiting list
Prices are not going much lower in mv
opinion, although I hear a good many
careful students argue that tile bottom
stni is q long way OF. Wheat is the
cheapest commodity in the country. but
there is "A difference Of opinion as to
its real worth. in view OF the admittedly
heavy holdings here and IA the South
vest
Deep interest is taken ia the Russian
situation, where famine conditions in
some regions are said TO have reached
tile acute stage, specially along the Volga
In this connection 81 is recalled that
during the Russian famine of 1901 wheat
sold in Chicago III S120. The effect OF
scarcity Of human foods. II is expected
VIII he the withdrawal Of much OF the
grain from tie districts which are better
supplied.
Bears are taking consolation that the
present outlook for the winter wheat
crop in this country could hardly be
improved upon. From nearly all points
the conditions are more than satisfactory.
Wheat for Export.
Price Current comes forward with an
estimate there is 20 900 900 bushels OF
wheat available Tor export from this
country for eight months from Novem-
Der lst. Opinion is divided on this esti-
mate. many Of the trade saying IL IS
absurd. The figures far exceed those
given for the November exportablo sur
plus in the entire history OF tho country.
The final Kansas State report makes the
yield of that State 5000 90 bushels. as
compared with the 100000 Indicated bs-
government reports The acreage OF thu.
new crop Is considerably enlarged. ana
the condition IS given at 93.7 points com
pared with So az the corresponding date
a year ago
Reports from three hundred banks Of
North Dakota Indicate that 81 per cent
Of the 1896 crop has left farmers hands.
Country elevator stocks are about the
same as last year
Coincident with tie expanding move
3 ment OF spring wheat. there was a NOR.
generous Offering Of corn from first
hands. The colder weather Is putin,
corn in better condition for marketinc.
and the immediate effect is larger re-
ceipts at primary points and freer SELL
ing by receiving houses
In addition there WAS the bearish inhu-
ence OF wheat ana tire effect Of Decem-
Der liquidation Most Of the corn crop
was safely gathered before the rains and
SHOWS. but there is q great quantity in
the aggregate in tine fields which IL NOT
drying, but IS exposed TO the danger OF
rotting. Naturally. this corn will be used
as far as possible for feeding purpoeas
which prices OF live stock stiu make at
tractive and profitable. Interest I'm corn
now centres I'm the probable movement
Following the coming Of cold weather
Argentine shipments are on the Increase
but tho home situation is the dominant
I factor.
Oats Also Suffer.
Oats suffered Ike the other cereals
from December Liquidation. There v,,s
much changing by elevator intereets
from December 70 May. Country longs
VINO had been holding until the last ~
the month 'let loose" and sold out TN
cash demand for oats Is fair and the