The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-08-26
Prices in Wheat Decidedly Buoy
ant in Part Due to Greater
Firmnessiin Europe.
FEAR FOR SPRING WHEAT
Low Temperatures, Particularly
in Northwest, Cause OF Con-
siderable Uneasiness.

NEW YORK, August 25.--There was
business in speculative wheat markets
early last week. Prices were decidedly
buoyant. there being brisk demand
to cover short sales, while offerings
,yern small rhe early strength was
partly reflection OF the greater firm
ness in Europe, markets there being
influenced by the insufficient worlds
exports and the further reduction In
quantity on passage. Foreign advices
state that European buyers are be-
coming alarmed at the steady deple-
ton of available stocks. The stronger
feeling in the carly part OF the week
was reelection of the increased &C
tfvity in the cash market. shippers hav-
ing had fairly liberal orders for both
hard and soft winter wheat for flu
ture shipments 1t also developed that
much more was done late last week
than had been made public, owing in
part to the poor telegraph service.
Eenr for Whent Crop.
Later in the week these influences
we're augmented by apprehension re-
spectlng the spring wheat crop, both
home and Canadian. 1t was feared
that the plant would suffer injury by
frost, as the temperature in some
places was down to the freezing point.
1t was argued that even IL no actual
damage was done at present. the ma
turing of the crop would be delayed
to an important extent, especially in
Manitoba and the Northwestern pro-
vinces where IT has had such poor
start Although prices at one time
showed gain Of Ii cents, as COM
pared with last Saturday, they might
have gone higher were 1t not for imam
cial conditions. the scarcity of money
price of the nearby contracts. even in
the face of the good purchases of win
ter wheat.
Rapid Weekend Advance. i
Late in the week the market was
again strong and reyerish. traders dis
playing much nervousness. and parti-
cuiarly sellers for the decline. who, in
their anxiety 10 cover, bid prices up
in sensational manner. Buoyancy
was partly ascribed to firmer cables.
European markets being Influenced
partly by the limited exports from
Argentine In spite OF which the visi-
BILE supply in that country showed an
other reduction Consequently, cables
Dtpu5Ill bOOu aESSHAAA-IIS u S'eA. 49,
and hard winter wheat. and much
larger, quantities would have been
taken HAD it not been for the COM
paratively light supply on offer and
the much higher claims OF holders.
Demand was also quickened partly by
predictions of another cold wave in
the Northwest which may result in
further crop deterioration
The Rise In Corn.
Notable strength developed in the
corn market. Demand was animated
at times. but business was restricted
by the scarcity of sellers. Further
complaints regarding the backward APP
pearance of thGterop and predictions
OF a cold wave, resulting in reduction
in estimates of production, We're causes
OF the advance.
Exporters were in receipt of fairly
large orders and at firtner prices, but
found it difficult to execute them, ow-
ing 10 the meagre supply.
Buoynncy In Oats.
Remarkable buoyancy has prevailed
in the oats market, prices having adj
ranced in sensational way. Supplies
have been reduced to an uncomm9nly
low Lowell. and as result values are
astonishingly high. Shipments Of new
oats from the West have been small,
and the grading exceedingly poor. AS
consequence. sellers for the decline
have been badly frightened, and the
present level of prices is by far the
highest of the season.