The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-05-12
THE GRAIN MARKETs.
FurtheE sharp Mise. In Wheat-Acttve. puy.
ing, On B6Filsh Crop Reports Corn and
Nkata csn,,w.r

49,
ings On B6Iileh Crop Reports Corn and
Oats stronger,
Again, wheat advanced sharply under the
stimulus Of bnlhsh crop and weather reports.
The market still felt the effects Of Friday'a
Government report Bulls Insist that the con
dltiou OF the crop At the present time Is really
much over than the Government figures.
Certainly the weather since May ) has not
been Of q Kind 10 improve the crop situation
very markedly, although needed moisture
has fallen In the Southw est. and not o few
incline to the opinion that the condition Of
winter wheat at the present time Is not much
over rs per cent. 81.
AZ any rate. what with the damage to
winter wheat and the delay to spring wheat
seeding II ts not surprising that the bull
side Is more popular than ever Yesterday
the speculation was broad and active. Com.
mission houses had large buying orders from
all auartera and leading pit traders were
prominent 10 the buying. 50 prices went up
with n rush. On the rise there was very
heavy realizing. but the Offering s were quickly
sneppeq up and they produced little effect,
although some reaction occurred before
the close.
Some contend that the hull movement
Is being overdone. that there are too many
bulls. that the market 10 overbought and
that a sharp reaction is due. but the average
Which Y Is MOI no, P ~ ali su 70 SgI, ire sears 4 nave AVE
Jared Tather badly OF late and short selling
10 INDUCED ip cautiously.
Is. believed. has been practically eliminated,
while an extensive long interest las been
created. much Of 4 weak. The winter wheat
TEN peratures at the Northwest ARE rising.
81 that any, change IN the tenor Of the crop
sefSmble To- unload long Roldinss therefore
would not be surprising at almost any time.
The course Of prices. however. win depend
Yesterday much warmer weather was
exported In the American Northwest. aud In
Manitoba the ts1psratnr;s |, were ris INK
temperatures Of 80 to 90 degrees over most
sections, In the Ohio Valley it was c9ld.
Weather r'BB Bureau avn pred ieted Showers ii Tor the
Dakotas oh saturday night and Sunday;
fair and warmer for Minnesota: showers Tor
Illinois and Indiana, With warmer weather
Saturday night.
t,d s'iI bsib 'p poSl TIsP Smd private Tsr1 'F@ IL. !? M ilaTlssai
State report put the condition Ht ~ against
50 last month and - hast year Last year
Of wheat pioughed Zip this year in that State
is per cent: Sgai Inst ! per cent; last year:
couple Of hours late 10 the afternoon. Think
total seeding will not exceed one-half NJ last
GTavity or the situation can hardly be exaE-
Broomhall catled in regard to the / ssiap
report the condition Of winter grain IN the
West. Southwest aud South Is Unsatisfactory
end IN sonie parts had. lnthe Southwest and
from 5 to Is rer cent. in the East centre the
condition Is satisfactory TO excellent. with
NE seeding Of spring crops in the South I.
Ia some damage ~ a result Of cold ket weather.
while in the Fast the weather dsetery favor
The cash trade was dub. Export business
has been shut out BY. the recent advance.
The cables, ~ A rule, we're Disappointing
hall estimated the world's %shipmentsa at ~, 0O0,-
winpIp,g, Mon,-,The Winnipeo .Mdrket
vator and grain men in western CanadA In
response TO inquiries, regarding the crop
pFe .bs Tep,i tSt ! =! simii Tna in s, ohssae eter IN mae ali ' and
indicate anything but favorable prospects.
Only q small percentage Of seeding has yet
been most ~unfavorable. That the quantity
OF wheat still in the country has been over
estimated. the papeT states. caunot be doubted;
and replies received show few elevators filled
corn advanced. owing mainly to sym
RPS Sd ! win Dd wheel heat. T acei speou fo,@m ,. Tas
houses were good buyers and shorts covered.
The cash market was, tirmer. though dull
export business ia being done ia corn, and
not reported. Some say that large sales have
been made og late to Germany and thar SHIP
ments will neNt mouth and oon-
tinue through the summer. Cash inter ests
have been buying futures quietly Of late.
Chicago received 22i cars, all Of contract
grade, and expects 367 on Monday.
Oats we're stronger with the rest Of the
list. Unfavorable crop reports caused good
buying Of the later deliveries. Shorts covered
and the offerings were, light. Chicago re.
ceived 229 cars. including 81 of contract
grade, and expects 2s on Monday.
Wheat oil the spot was dull. Sales, $4,000
ern Duluth, 7lIc. over July; No. ? hard winter
Hc. over. Futures advanced "a to 2L5-I6c..
but lost part. Sales, I. 500, 600 bush.
Corn was 1rm. on the spot. Sales. s,O0o
hush. No. , elevator, t0Hc.; No. ? white, 80c.
Futures closed = to &c. higher. Sales, $1,000
bush
Oets we're hrm on the spot. No. 2 mix ed.
t6c., No. = white. lsc.: No. 3 white, &c. Rye
and barley were nominal. Futures as follows.