The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-04-22
Wheat Advances and Speculation
Tor Saturday Was
Active.
KILLING FROST IN THE WEST
In Nebraska 1t Was, Dry, With
Minimum Temperature at 20.
Snow in Texas.

mainly by further unfavorable wealth
or and crop reports, wheat advanced.
The speculation was active for
Saturday, shorts covering free
IS and commission houses buying. The
market was again flooded with dam
age reports. Those from Southe. :. Kc,-
sns were rather sensational. gone
claiming that the damage ranged
~ to 40 per cent. with the probability
OF 1urther damage unless rain and
warmer weather occurred In the near
future. 1t was dry and cold in that
state yesterday, freezing temperatures
being reported in some sections
IN Nebraska. too. 1t WAS dry and
minimum temperatures of 90 degrees
were reported. killing frosts were re-
ported In the Ohio Valley States and
MISSOURI. Rain and snow occurred in
Texas and Oklahoma. but this had no
erect and neither did predictions OF
rain or snow for the Missouri Valley.
Low temperatures were report d at
the Northwest and dispatches from
that section regarding the outlook for
spring wheat seeding were 1ythlng
but cheerful
On the other hand the cast, -emand
fell off sharply. the receipts continued
on large scale. the cables were
rather disappointing, some recent buy
crS took profits and some of the crop
reports were favorable. a crop ex-
pert wired from Lincoln, Seb Wheat
small. but looking fine. Plenty OF
moisture. No bugs
But II was in the main a weather
market. and with the shorts plainly
nervous the bearish features of tho
news had no weight. Chicago reported
active buying by large commission
houses. and the opinion was expressed
by not n few that unless Kansas gets
good rains in the near future a fur
Their advance In prices Is likely to
be witnessed. II is stated that Nicoliet.
OF Kansas city, who has hitherto
taken a hopeful View of the crop out
look, admits that his reports are be-
coming bad. Some are predicting that
the forthcoming Oklahoma State re-
port will show that from 30 to IS per
cent. Of the crop has been seriously
damaged
The Northwestern receipts for the
week were more than 5000 cars lar
ger than for tho same week last year.
Broomhall estimates the worlds ship
ments Mt l2,0o0.00O bushels against
a.sT2. 600 Inst week, and 1856 900 last
year
Liverpool advanced is to Esd. In
fluenced by covering. tho Modern Mil
Ter report. and advance on the Com
tlnent and n good demand for off coast
and on passage cargoes Berlin adj
vanced equal to SIS to / Use. and
Antwerp 5.Sc.. while Paris was un-
changed to equal to Ia C. higher Ber.
lin declined 1-3 mix
WESTERN WEATHER.
Precipitation. Tenn
dnnhesp. pera,ure:
" W. r e. Man p g. None Is to "a
Oaks. & MINI. Clear None TO .os 20 to IS
Scb. q Iowa. Clear None 90 TO 20
III, Ind. * Ohio Clear None 10 ,et 81 TO 80
n A
Okla & Ark C. * r. None to 80 as to IS
Texas ......... Cloudy .0i to LIS 80 TO IS
La, & Miss. CLOUDY az 10 ~ - to 30
FAN who have been closely ex-
aiming the fields appear to agree on
much irreparable damage. and the area
of impairment increasing" said Oscar
X. Lyle. Enough has occurred to VIM
ter wheat to Justify an estimate under
iD0.000.0oO bushels. Turning to spring
wheat. the prominent feature is the
lateness OF the season for seeding. This
may mean there will be no increase Of
acreage and the loss winter wheat has
sustained not he overcome by greater
production of spring. A bullish feature
lies in the fact the greater attention
paid to raising durum wheat Is dis
placing wheat suitable for flour. Condi-
tions in Russia are In favor of de-
durum wheat we raise. 1t is in Russia,
l think, | see strong feature in our
favor The price obtainable for our
surplus usually determines the price of
all. Our surplus liz sold to Europe with
Russia our largest competitor. The less
the competition, the better the price
opportunity Russia will enter new
season with reserves nearly exhausted.
To replenish them and satisfy all home
requirements is rather more than ono
good crop can do If there is con-
tinuance of exports. To my thinking
Russia is presenting probabilities to en-
courage a believer in good prices the
coming season. Blessed with Russian
abundance for few seasons In sue
cession there is coming q change in
which it may prove our turn to sell
Europe freely. Crop conditions in Rus
STA are not yet very favorably treated,
but 1t must be remembered the greater
production is of spring wheat regard
ing which not much can now be said"
Corn advanced owing to the rise In
wheat. light receipts, small offerings.
covering of shorts and commission
house buying. Country acceptances
were light Chicago reported shipping
sales on Friday of 10000 bushels.
Charters We're reported yesterday for
100000 bushels. LlVcrpooi auFuHceu IL
to 38d.
Oats advanced owing to the rise in
wheat; unfavorable crop reports and
general buying. 1t is stated that en-
tensive replanting will be necessary In
Illinois and Iowa. Patten brokers
bought July and sold May a good
cash demand was reported at the West
at firm prices.
Wheat on the SPOT was dull sales,
10000 bushels. No. 2 red, S5c., I. o. b.
No. 1 Northern Duluth &c, over May
No, hard winter, lac. over. Futures
advanced is to sac. Sales, soo'ooo
bushels
Corn was dull on the spot. Sales,
1000 bushels. No. mixed In elevator
Bsc. Futures closed Ia to 3-sc. higher.
No sales,
Oats were quiet on the SPOT, Sales,
5000 bushels. No. 2 white, 494-&c,'
mixed, i7c Rye ana harley were rom-
final. Futures We're rs follows:
Open. High. Low. Close
Wheat: ~.
"a: "a ;:;5 81: 81; s.; 81 81; 81: 81
May ........ -. EEK
July ,..,.,.. -. 56M