The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1909-12-14
GRAIN SUPPLY In
SIGHT Is LIGHT
ACCUMULATIONS TARDY AND
NOT BuRDENSONIE.
Corn Gaining Momentum In Upward
Sweep of Values-Povisions
Again Higher.
THE SENTIMENT Is BULLIsH

Chicago, Dec. 14-Several I'M
portant influences have contributed
in the last week toward emphasizing
TO the trade the smallness of the &C
formulation of wheat supplies from
the liberal movement to market since
harvest. Almost coincident with the
closing of lake navigation came tbs
strike among railway employees in
the northwest and protracted storms
and resultant bad roads in all direc-
|tions.
These influences have in turn
made a serious situation for Decem-
Der shorts in the leading markets
where milling and speculative inter,
ests appear to have December hold
ings large enough to cause much con.
gestion. Smaller collateral markets
have been very easily Influenced
through their cash markets, which
because of light accumulated sup
plies and small current arrivals, ar,
not at all hard to control. I'll of thil
has served to create the sentiment IN
1.-THE trade that IL there was no bur
densome accumulation of wheat dur
ing the first half of the crop yeal
when receipts were large II Is hardly
probable that stocks will prove q
burden after consumers have eater
so far into the crop.
Bearish News Is Ignored.
Affairs of the immediate present
have been such as TO lead the trade
in wheat TO ignore anything remote
either as to time or distance, provid.
ing II is bearish. Under the former
description comes the government'i
December report, showing hand.
some promise for much larger harry
est next summer than that OF last
As to distance the trade has given
itself vev little concern, because
European supplies are as much
larger than a year ago as those OF
the United States are smaller. Never.
theless the reported loss of a moder.
ate quantity of wheat in Argentine
by frost has stirred the trade con.
siderably.
Although the loss at one time wa,
believed to be over 100000 900 bush,
els and was generally conceded to bs
much less than that while the croI
promise for United States was about
12OyO00!000 to 100, 10000 bushels
over last year the Argentine news
nevertheless. was Of most effect OF
values. Worlds shipment each weel
continue to run much larger thar
those of a year ago. Russian ship
ments also continue very large. New.
ertheless. foreign markets entirel,
fail to keep pace with gains in THU
country.
The strength OF the corn and oat.
markets and the general advance in
all commodity and foodstuffs values
undoubtedly Influenced the general
sentiment in wheat. as, despite the
fact that values are now higher thar
a year ago. they are not high as CON-
pared to other food products, ntably
meats.
Enrmous Trade i'm Corn.
Corn has sold in the last week al
the highest prices of the crop year
aud seems only to have begun to
gain momentum. The highest prev
ious price was made September II,
after the governments announce
ment OF big crop losses in the south
west and a lowering of the general
condition of entire crop from S4.f
August 1, to 7i.6 September 1. May
corn sold at So 1sc on September II.
and was not again at that figure un-
til Friday last. In the intermin 'Ne
market has been hammered by some
of the most powerful OF the active
Interests in the trade and declined to
59Hc in early October and again
near the middle of last month. The
low point for May delivery in the
life of the present future was 52hc
in August last.
The trade has gradually reached
enormous proportions. Previous to