The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-04-24
WHEAT MARKET WEAK.
J STARTS WITH "A DROP
Later There Is Frmer Tendency All Losses Being
Recovered in Distant Contracts Corn Strong
on LIGHT REGENTS
on Light Recent

Sew York, April! 2a.-Domestic wAea,
CE.Eets we're we& early In ;he week
IAe decl'ne vas striking in Sag con-
i-zctE snd NOTABLY n Chicago where
:a=y b!oi:s n E somewhat sensationai
wzT WHILE the distant or new crop
dei!ver.es aeld Comparatively steady. 4
aid q .esrit ta= premium on May,
which amounted ID si-. cents or sat-
urtE., iesz@net falling at one time as
l91 g cents, This radical chang
'raE largeiy ascribed 20 continue
ior,datioa ~ tired and discourage
longs
Cause of the Break.
1.-The outset selling was stimulated
partly o. material break In winn-
reg. wher+ prices for May fell INA
ceats. which was mainly zscrihed 10
reports o! larger reserves III farmers
hands or az country points veg. OF
i ontario. The total being placed al e.
eeeQoo Bushels, or roun5ly s,ooot0g
bushels more Than estimated faw
weeks age. This was such radical
ard unexpected gain as 70 cause mucj
tKepticisn- All advices from that
quarter during the pas, month or more
suggested that almost all farmers had
disposed Of their surplus, and conse-
quently The steady failing of in rc-
ccipts occasioned no surprise II is a
"cH-known fact that the consuInpt!on
ana exports Of Manitoba wheat hivc
been On Il large scale In the Local
market tho premium on Nav also
dwindled, going down TO - cent
against u; cents last Saturday. 'rhU
cown"arG tendency was checked part
4. ny the fairly large decrease In inc.
VISIBLE SUPPLY, the comparatively i;gh;
"ofid snimpentS, and the big rcuiir.
lion III the worlds available siipply.
S'sss.oco G-sheis, asa.ns, an Increase
. Of l,25i,ooo bushels a year ago.
THESE influences We're cduntcrlni-
enced i. part. however, by tie favor
SUE "ee'her West, the temperature
being scasonably higher. while thero
was a beneficial rainfall over !. wid.
area. both in winter and spring whau,
territory Recon, rains in the North.
west We're highly gratifying. as they
put the soil in proper condition, ror
plowlng and seeding, Adviecs IRON
trustworthy HsourccS Indicated that
about 50 per cent OF The area Has
been sown This in turn was ofsc,
partly by better gable advices thAn
mad been expected European m.,r-
kets showed irmness. pnr,icnlariy
budapest which was higher. nix
strength in Euhope was attribute
largely TO unfavorablr weather Yam
in the Ifnited Kingdom ana On HI.
Continent, The tcinpelaturc being unus
+ uaily low for the season ana i.ente
the crop outlook is not 80 bright.
Late Price Movement
8t Late in the week thcr,swas nr,no
tedency, all Of the early loss being re-
covered In the distent cpntraots.lIDu
only rart in May nlthou!i in ,ne ina
trading May advanced more sha!1jI,
+ than the ds,anct contracts ~ !, Il.
suit. the May premium midyr.i IA az
cents, against gents previously III
Il anxiety to cover was prompted pArtl
by encouraging cables from I.ucno
-Ayrcs, as well a from European ;,,ar
lsets. but notably from Budapest. whef
Z Arrii JUMPED up 5ia cents p,r bnshei /
4 one day. 10 rcccdc X CENTS aftefward:
4 This somowha, sensational rise MAS q;
10 anxiety among siioil sell
ers. consequent upon the poor Gro
outlook in Hungary.
Buying In domestic markets was az