The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-04-09
MAKING FIGHT
AGAINST GODS
Wheat Market Cot1tending With
Prospect for Immense Crop
in 1906.
BEARS COME OUT IN FORCE OR 1:
More Timid Holders Rather
Frightened BY Stories-Thc
Grain Situation.
BEARS COME OUT IN FORCE 1
fsncc,al Ia The Times Dis patch

the wheat market is making against
strong odds. Some strength has been
transmitted hypodormlcally by the bull
interests, whose habitat is supposed to DO
in Wall Street, and there Is a measure
of encouragement In the situation abroad,
but there ut homo there is talk Of IN
Immense wheat crop In 1906
d The prospects for the new crop COM
Ing impressvely home. with tho appa-
rent advent OF real spring IN the win. win.
ter wheat territory prove q heavy load
far the old crop. There Is q great sur
plus vet to be disposed OF here and IN
Canada. according to the best advices,
and 1t will need a wide doorway into
the foreign market to got rid OF enough
Of the wheat to make proper place Tor
the production Of the present year.
Bears Getting Active.
The bears took full advantage Of the
situation last week. and they enlarged
scnsationally. on what appears TO be the
Legitimate and true status OF AFFAIRS III
the market, so far as supplies and de-
,nand arc concerned.
The cars OF the bulls were saddened
by tales from Alanitobn that there are
niles of wheat still stored away In gran
aries there-wbeat that the general trad
ing public knew nothing about
There were stories. too, that north
western mills are preparing to close on
account Of the lack cfndemand for flour;
that the holders Of May wheat are GET
ting ready to dump a lot Of their goods
on the market.
Where mere buncombe ends and where
the truth begins in this mass Of reports
is hard to determine. but the more timid
holders Of wheat havo been frightened
by the talk. especially when there came
on ton Of 1t all the official statement that
during the week there was an increase
OF 900 bushels In istocks at Minne-
apolIs and Duluth. Shipments from Ar
gentlne were about ns large as previous
estimates had thenl--4350, 600 bushels.
This movement is nearly one million,
bushels in excess Of that of the similar
time year ago.
Something Important Coming.
with. the whole gr,nut5 of ahear news to
run. 1T was somewhat comforting that
the price of wheat here for tho May was
no lower than it wassa week ago. The
market does not break except in q scalp
ing way but the investor in real wheat
can see no logical excuse for buying ex-
ccpt on these breaks. Something I'M
portant is bound to come out of the May
wheat deal before long Uncertainty as
to what TINT something will be gives
the trade its pause.
There is frming up cash prices
at Kansas City and st. Louis, but TINS
is at least partially explained by the
fact that stocks arc being overhauled
by inspectors, and It is anticipated the
amount Of contract wheat may be there
by much reduced Winter grades of
wheat are commanding premiums here
IN Chicago as In tho Southwest, and
mllers arc cutting into them heavily.
Crop Reports. y
Crop reports are being scrutinized very
closely by the trade, and there Is the
greatest Interest in what the govern
ment agricultural department Will have
to say Tuesday. There are gucsses that
the average condition will be as nigh
as 95. Preliminary ndvces coming IN
from the state departments aud from
unofficial sources all tend to show that
II d prospects are unusually bright for
this time OF year, and that there has
been very small damage by cold weather
or wlntcr exposure. b
Except for that done by surface water,
little damage has resulted In Missouri,
according to the latest State report.
There is a slight Increase in acreage In
Texas, but wea ther conditions have been
against the grain hero and there. Ten
nessee has ten per cent. less acreage
than n year ago, but expects to raise
nearly or quite as much wheat The
April report OF the kentucky department
gives tho condition the first Of this
month as 9S per cent OF q ive-yeari
average, will, possibly o6 per cent. Of.
last years acreage,
Nebraska farmers and dealers agreo
that April conditions IN that State never
were finer The acreage is off 20 per
cent, but present appearances Indicate
crop almost rs large as that Of 1906
Kansas has slightly increased acreage,
and the condition Is much better than
Tint OF December.
Oklahoma confidently looks for n record
breaking yield, tho condition being re-
ported by the secretary of tho Grain
Dealers Association as 100, The acreage
IS about normal Ohio conditions arc
quoted by the State board at lol,
a Winncpcg elevator man estimates that
of the 1905 crop there remains 1o,0oo,oO
bushels in farmers hands, 1b.no0, 600 bush
els In country elevators, and S.500.0oO at
lake ports,
Corn Market.
Corn Is going out at the seahoard fast
err than 1t is coming in from the farms
and country towns, the reason being that
work just at this time than in marketing
their grain. It is expected that another
cut In the visible will be shown the first
of this week. This grain has shown
strength In the face Of the weakness of
wheat and oats. Clearances for the week
were 100000 bushels. Total stocks In
Chicago amount to 7,7s00o0 bushels, or
lS0OnOO bushels less than a year ago,
With a fair demand east and south. and
with the chances in favor of Ellropes
buying more freely, q strong situation
is the result, Baltimore alone cleared
over 100000 hushels Friday. Nor does
it seem likely there will be any material
reaction from the present stable posi-
ton until after planting ia over.
Exports since July LIST have exceeded
by 37,SOO,OO6 those Of the year before.
Oats,
Late seeding of oats. with the prospect
that the delay will injure the Yield. Is
having some effect on the market for
this grain, but the quantity on hand
largely nullAes the field news. oven tho
talk that acreage may be much reduced,
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