The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-07-08
THE 4 MARKETs.
Further Decline Takes Piace-Weafher
Fayeraele-9eihng wheat Against
lAPge Aoeepfence0. So

Large Acceptances.
Wheat again pursued o downward course.
Influenced mainly by favorable weather and
crop reports and heavy selling against liberal
acoeptances on bids sent out Friday night.
Formers generally seem disposed to accept
prevailing prices. II 10 estimated hat over
a million bushels were bought by receivers
on overnight BIDS. The weather was favor
able for field work In the Southwest and fine
weather prevailed over the spring wheat
region. Harvesting returns were bearlsh
and little other than favorable crop reports
came from the Northwest. They were ac-
companled, moreover, by selling orders,
Bears hammered on the prediction OF fair
and warmer weather for the ensuing thirty.
six hours. Long liquidation was reported
here and at the West and for q time the market
lacked support.
Liverpool declined Va. to I'd, owing TO
favorable crop reports from this country
and liberal Indian shipments. Paris fell
equal to Nc. to 70.
On the decline pretty good buying was
noticed. This was predioated partly on the
belief that there 10 to be a genuine revival Of
export buying In the near future. On Friday
500, 900 bush. we're sold at Chicago, II Is stated.
for export. But there was more or less buy
about three cents within q week the market
is entitled 70 a rally. even though. IL should
PROVE rs. to Be s.,i only tsmPRorsry The s sh9 IT t
crop scare over the situation In the spring
wheat belt might easily lead to. a sharp ad-
m xsas'ii i. b a. sSs ow %SR e. the h ssnsysii;y fsvSr-
able crop accounts and few look Tor any
thing more than temporary rallies unless
crop or there should arise an active foreign
demand for American wheat. A
Broomhall estimated the worlds ship
10, 4SO. 900 last year. Some decrease in the
amount on passage e expected. The in
dieations point 70 a decrease Of sonething
In discussing, the situation Oscar X. Lyle
said: New Wheat is increasing In move
threshlng from the shock and. insure good
receipts. AZ a rule the early threshings are
for sale. We Are not on an export basis but
to good business with Europe, the beginning
q which will likely send, shorts to cover.
they DC not care to be short at a level At
few lots OF wheat have been sold for export
and further. business is an early probability.
The n b asRSnd s IN the . spIoslai nvec %srset o = n mss
liberal. Besides this, there has been fair
over the action of the market; There l. ex.
pectation OF q crop scare and the rust feature
will be prominent for a month to come. In
Wheat, tho weather bureau made little men:
ton Of il until about July 20. At this time
there Is some unofloialmentien, but it is more
The year ending June 80 shows interior re-
oeipts 2si ,Os3. 900, or roundly $4,000, 0oo, greater
than last year; Exports OF the year; i rs b. a.,
about is5 10000. Canadian movement to
Europe has been about 5000. 900. In the
week the condition OF foreign crops has not
foreign markets. There Is that indifference
IN buying countries that. one can. read y as no
desire to anticipate needs with tho world pre-.
Is not dear and there Is enough that car, hap
Selling j at thiss time. 4 buyinE opportunity
Corn declined owing generally, to favorable
crop and weather reports. the depression in
wheat, liquidation and hammerlnR. The
ing In the near positions. Sentiment. how
ever. was more bearish owing to the i'm
proving crop reports I from most T sections IONS 2
sus Year oS aso. %ben Tie Yield was 3. 90, 600
bush. Chicago RECEIVED 2sa cars, sd in nh Mnns
more H eSpoPter ' was selling at. CHICAGO.
Country acceptances continue ~disappoint-
..6gne firm said: The price is well held on a
high level, and surpIisipgly 50 when the s!I E
sho shs 'r Boz 1s rsfaTnsa "a a"' ra nG% @ip' hands &c
Never In the past has there been indicated
as much corn on farms as At this time. Why
II moves 40 slowly Is hard to explain. The
bush. against 1856 .oco, 900 In the year preceding.
when the crop vas ?4o.0 oo, 900 less. Feeding
for the winter was mild. and the price OF
animals shows their scarcity, We exported
but 10. OOO, 900 husll. more in the year. Why
satisfactory. explanation. when we consider
how attractive has been the price. The
crop Is in high promise. The dry weather
we had, OF 80 much benefit In the making OF
winter wheat. sent the corn roots deep and
made a condition of the very best. Officiai
being the hrst Will be Of influence; The
price OF cash corn in Chicago IN July the
past FIVE years since the great shortage In
1901 has ranged from 43H to $50, averaging
55Xc. In the five years preceding cash
corn in July ranged from 24a to 44tc,. and
crops Of 2,2ss, 900 1000 bush. compares with
2'oss ,Oo0, 600 In The Ave years preceding, Corn
looks very dear to U.S."
Oats weakened with the rest of the list.
! though covering OF shorts held July. There
was a good deal of selling az ainst large coun-
Crop reports, were more favorable. than re-
Gently. though the Kentucky condition is only
60. n gajnSt 90 q year ago. ChiCa go received
SO cars, including &c Of contract grade, and
expects 213 on Monday.
Wheat on the spot was quiet. Sales. 1000
s ssER SI No. i n!Srihern' Duluth g. over:
No. / northern Manitoba. ,soc. Futures
GO, 900 bush. Prices as follows:
oprn. High Lou Clos. Sosrev.
July .sssasi 81 81 e e.: co. 8
S spssmssr.":.s 3 II * asS