The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-03-14
WHEAT is FEVERISH
AND VERY UNSETTLED
New Crop Contracts Advanced Early on Dam
age Reports, but Later Decline as Rumors
Rocnnon Moro cfac+nrv
Satisfactory.

third Of the crop year: that is, from
I, March to June. inclusive. Trustworthy
authorities have estimated that be-
cause of the higher prices Of meats
provisions, etc, we have been using
Tor food and seed at the rate OF about
\ GOO. OOO 600 bushels per year, which
would mean about 200.OOO,0OO bushels
for the period mentioned. Consequent
~ it is easy to see that the course OF
entirely by domestic influences.
Late Unscttlcmcnt.
There was radical change in con-
l-ditions existing in the wheat market
In the last half OF the week. there
being a complete reversal Of form, the
May having advanced sharply, while
the remote or so-called new crop con-
tracts were comparatively weak AS n
result. the May premium here widened
to Ia cents. and in Chicago to 6 g.,
cents. This abrupt change was partly
brought about by nervousness among
short, sellers of8}Nlay, While there was
greater pressure to sell July and Sep
TENDER because OF the receipt OF moro
favorable crop reports. especially from
most States We're somewhat vague ana
conflicting, hut many authorities as
serted that the numerous damage re-
ports from that quarter had been cx-
aggerated. The anxiety to cover May
was partly attributable to small con-
tract stocks, and partly to encourage
ing cables. European markets being
stronger. largely under tho influence
of bullish5 advices from Argentina,
where estimates have been reduced re-
spccting I he eNportable surplus. which
III; now placed at 65.OOO.OO0 bushels.
roundly against 10000 900 to 50. 900
previously estimated. and a6.ooo,OOn
exported III 1909. u
Furthermore. exports from that
country this week proved to be mod
crate, notwithstanding which the visi-
bic supply there showed a material
reduction. and is now over Is. 600. ooO
bushels less than a year ago,
All kinds Of wild guesses have been
circulated us to the probable crop In
Kansas. some extremists ESTIMATING. a s
low as 6O.00o,0o0 bushels, and others
between 70.d0o.oO0 and 10000 600,
against $4,000, GOO harvested last year.
IN the Judgment OF most conservative
dealers, the crop promise Is moderately
u not fairly good In almost all other
winter wheat States. and, therefore,
~ is expected that whatever loss is
sustained In Kansas will be partly or
set by moderately large yields else
where. assuming that no appreciabln
damage OCCURS between now and har-
vest vest. but, OF course, practically every
one realizes that there is bound to he
more or less deterioration
LnrEcr Exports OF Corn.
Early N the week. corn was slightly
lover IN sympathy with the West,
where holders were inclined To unload,
anticlpat'ng bearish report respect.
Ing farm reserves, but after the pub
lloation Of the report the market turned
strong. as the reserves were found to
be materially lighter than expected.
l,Nho.ooo 900 bushels This suggests an
luncommonly heavy consumption. as
lalmost every dealer had counted on.
more than ll0o,ooooo0 bushels. The
SUBSEQUENT strength in.the market was
partly attributed to disappointing re-
iicceipts at Interior points the movement
having failed to increase MS many had
1 expected Doubtless. the mildcr weath-
err and resultant thawing have put the
roads In had condition. Cash corn has
4 been offered more freely and at lower
prces. which has resulted In mod
crate Increase in tile export business