The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-11-03
rHE nRAIN
Prices Advance. 1rhsn Decline Gables
Higher. but Financial Conditions I'm
gnNnrahnN.

Prices Advance. 1rhsn DeclAno-CnbAeS
HIGHER. but Financial Conditions I'm
favorable.
Wheat closed lower owing mainly to ChS
unfavOrable financial situation. expectations
Of larger worlds shipments and liquidation,
For a time early In the day prices moved
upward. Influenced mainly by better cables
than had been expected.
Liverpool 20 the surprise OF many advanced
y to I'd. in spite Of predicted larger Russian
and Indian shipments. Budapest, more
over. advanced 20 kr. and Berlin ross x toll
mark. These advices led to covering OF shorts
here and at the West and q certain amount
Of new buying.
Then. too. BrOOmhall oAbled that mail adj
vices from India stated That the outlook for
wheat and other crops was very unHRvOrable
and that famine threatened, while the re-
ports In regard to the Australian crop were
bullish.
But the demand soon petered out and prices
slowly declined under liquidation and bearish
pressure. The shadow Of he financial situa-
ton hangs over everything like q cloud. II
stock market acted heavy. Those who buy
do so as a rule merely for quick turns. The
monetary pinch favOrs th0 advocates OF
lower prices rather than their opponents.
Then. too. talk is beginning TO be heard
about the possibility Of very heavy December
deliveries. Certainly stocks are big and the
inanCial stringency, in the opinion OF many
will make the carrying of large lines a difficult
matter IL not an iInpossibilitY. Furthermore.
the export demand has fallen OF at times
Of late and BroOmhall reports that general
rains have fallen in Rum ania, while the IN
locations are for larger Russian and Indian
Yet there was no great pressure TO sell.
Many believe that the dim1nution IN the
foreign demand will prove only temporary.
They contend that after a prOtracted period
Of active foreign buying some letup in the tax
inRs Ia only natural and to be expected. The
immediats future OF prices. in the opinion OF
many. will be governed largely by the IMAM
Cial Developments.
for the week at II 100000 bush, against TO-
100000 in the previous week and h.sOt.OOO
In Sdiscussing the situation Oscar X. Lyle
said: The crop promise OF Argentina is
closely regarded. Much depends upon the
outcome in that country where new grain will
appear for export movement three months
hence. TO date, the expectation is around
100. 900, 900 bush. for export; for two months
the plant is subject TO many impairments
that can reduce the quantity. Any reduction
will have price effect in the world generally,
source OF supply. Advantage will he taken
OF any Gripping Of competitive supplies;
bush. of wheat Of commercial weight. this
year. Wheat supply y getting less Gally,
1 lIper aHp sTeu sbsIld Continue generous The
floating amount Is only moderate and not
much of a margin for European Independence.
bs for long sStisfied. Wheat. though dear in
price. Is still the staff Of life and cheap in com
harrison with much other food. IL ~ not De-
lieved our planted area in winter wheat THIS
fall il greater than last year. More may be
harvested II we escape the ravages Of Insects
that made such great and ments ~ the
Southwest. With an ending Of financial dis
tress should come a return Of buying by In
terests friendly TO wheat that have retired
from the market only temporarily pendtng
better times. That period is not vet plainly
in sight and there Ia apprehension regarding
December deliveries for payment
Corn advanced early owing TO Openin 2 adj
turns, light receipts. commission house buy
ing and covering of shorts. The cash market
was quiet but firm. Liverpool advanced
10 sd. On the rise, however, considerable
long corn came out at the West and prices
reacted. Cash houses sold to some extent.
Chicago received only i24 cars, including 30
oats advanced early with the rest of the
list. but soon weakened under ~ltduidattOn,
largely. IL ia supposed. for account OF Patten
interests. Cash interests sold moderately.
Chicago received IO7 cars. including S OF con-
tract grade.
Wheat on the spot was more active. Sales,
$50. 900 bush. No. = red, lc. under December.
No. ! northern Duluth. nominal. Futures
closed :, TO sc. lower Sales, l.OOO,OOO bush.
Corn was quiet on the spot. Sales, J0.OOO
bush. No. > to arrive. Slc,; NO. : Whibe, .I2t3c.i
No. ? yellow, 7Ic. Futures closed unchanged
TO &c. higher. No sales.
bush. Natural white. 20 TO 2S lbs. 5455G551zc.:
white clipped. % TO "a lbs, S61sG59c.; mixed,
20 20 ~ lbs, j2C.
Futures az follows