The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-01-21
THE PAST WEEK IN GRAIN
AND COTTON MARKETS
Fevcri>h Wheat Market. With am
Upward Tendency Toward
the Closing
WORLDS SHIPMENTS LIGHT
Dull Trading in Cotton With
Sagging Prices-Outlook
Tor the Crop.

There was much irregu'aritv fn domestic
wheat markets carly in tfe we@0 Tre un-
settled condition and e~rati- T-ice rlctua-
tons We're caused by many conflicting in-
huences. Temporarily. h0we1er there
were few. if any. factors ~ slHlrient
weight 20 swing the market anr-e-iooiv
IN either direction. in the Judgment %
most coflser ativa dealers tnere was s-f-
hcient news % 2 stimuiafing nature fo
have strengt p ened the market nad 70
not boon FOR ths somewhat aggressive OPP
position on The part of big professional
operators in the West Nr-el- 20 suit
their OWL sslfish ends these operators
appear bound 10 pursue a "ruis or ruin
poucv. They seem avsrse - having n-fras
advanced. and therefore pound the mar
ket agg-essivelv whenever oppo-tun'tv
offers. For several years there hae been
complaint respecting the dulusss IN the
speculative markets consequent upon tire
virtual withdrawal OF the general or OUT
side pun p. principally because u had
found trading IN wheat and corn ur-
profitable which yves partly crarseable
90 similar rraniDulative tactics
Decline in Speculation.
The big elevator propretors are running
tier elevators TO make money. bug Il IS
safN 20 saw that they would erd their
business gone t. speculation was 20 cease
This NAV soon coma about unless an
outside speculator can come into The
market feeling reasons ably sure % getting
fair treatment
There was "a tiTue not many wears
ago when tine public speculated n pro
visions in Chicago. but the big packers
quickly drove them out Many traders
were somewhat amazed eariv i- tho
week % find p sagginF tendency. IN
the face ~ the light worlds shipments.
points and the large decrease IN the
worlds available supply
NAM merchants incline 20 the ousr-
Ion that wheat values are down % a
reasonably safe basis. az bread GER
tatnly looks cheap compared VITA other
foodstUNs. and especially fresh mes e
and provisions. while the quantity f-
sight IS now less than a wear ago. and
prices approximately ten cents Der
hushel lower. Toward midweek tho
market became somewhat stronger as
offerings were smaller. while the de-
mand showed Improvement sellers for
the decline displaying nervousness A
Else OF importance was arrested part
lN by discoura ging cables European
markets being Influenced bv prlva e.
cables estimating an increase in the
4 Argentine crop Of fifteen Uer crnt
which would indicate a WELD OF about
$500 on bushels against 135.oo0 on
lest year and $1,000. 900 bushels two
years aEo. the previous high RECORD.
B This might suggest an exportable sur
plus OF about no. GOO bushels
against $1,000 900 exported in 1906
Cause of Late Unsettlement.
Late in the week the speculative wheat
market was stNi characterized by much
feverishness and irregu'arfty. price varia-
tons being numerous and spasmodi- be
cause Of the many conflicting factors.
There Is noticeable disagreement among
traders respecting the probable enect of
the variable weather throughout the
West. In the main. however. the general
trend was slightly upward. ATTENDED az
times BY more or less excitement The
improvement in tie demand at times was
aSortbed 20 warm weather in winter
wheat territory. where the plant las
made rapid progress which appears un-
fortunate at this iuncture because o.
the bitterly cold weather ga the North
west II the low temperature should
snread southwark over winter wheat
fields II might prove detrimental. parti-
cularlv as there is little or no snow
protection. Furthermore. receipts at prl-
mary points continue small. with no
probability Of any appreciable increase
IN the Northwest as the weather IS too
cold
Corn ROuVant Once More