The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-08-14
MOVEMENT OF WHEAT
is VERY IRREGULAR
Prices Higher After Great Fuctuation, Brought
About by Huge Liquidation, Which Over
Swallowed bullish Government Report

reduced S5,o0o.o0o bushels in the
month, and winter wheat 100000
bushels. while the aggregate crop will
probably be 3S.l00.o00 bushels less
than indicated in July. and $1,000. 900
bushels less than harvested in 1910.
Some people argued that the recent
advance from the low point with gains
ranging from 81 cents here to is
cents in Minneapolis. fully discounted
important crop damage. Still, the re-
port does not take into account the
injury by rust. the bulk of which has
been done since August l. Winter
wheat made better showing than
many had expected. In fact. the in
dicated crop was about 100000
bushels larger than some of the
earlier estimates. Other bullish fac
tors whose influence was offset by the
heavy realizing We're strong cables
and further rains in the Northwest
with low temperatures in Canada.
In the late trading prices again
moved upward, demand being quick
ened in good part by reports of largo
sales of winter wheat to exporters
Moreover. ii was said that many bids
were in the market at about cent
below current levels The fact that
Europe is ready 10 buy freely on all
breaks has decidedly Strengthening
markets were easier, as there were no
important rains in spring wheat terri
tory, while it was warmer in Canada
with better crop reports Although
Liverpool eased off toward the close,
foreign news continued encoura sing.
as rule. Light exports were reported
from Argentina. India aid Australia.
and hence the worlds total was ex-
pected to be far below requirements.
The Russian news continued bad, and
one authority said the exportable
surplus would be only 64,ooo,oo0
bushels. which is smaller than anv
previous estimate. The interior move.
ment has remained on a. small scale.
and reports that winter wheat farm
ers were holding firmly for higher
prices We're confirmed by the Modern
Miller report.
Weeks Fluctuations in Corn.
Corn prices have also followed a
decidedly uncertain course at times.
nut the advances were the best su:
tanned and prices are roundIv cept
"igher. Much of the time the weather
has been more favorable. there hav-
ing been rains in parts of the belt
where they had been needed Hence
It is believed that prospects have i'm
proved since the first of the month.
FOR That reason a bullish crop re-
port from Washington had little eff
feet. as it was generally thought to
nave been discounted In the advance
which occurred in July. Still, IL was
actually rather more bullish than ex-
pected 1t indcated a crop of e,6ao.-
100000 bushels. n loss of 10000, 900
bushels from the July indication, and
OF 5O5'oo0.o00 bushels as compared with
the last crop A Strengthening factor
throughout the week has been the
small volume Of the primary movement
and the general reluctance of farmers
to offer for sale. The cash demand.
too has shown Improvement at times.
The late strength WAS based in good
part on reports of temperatures run
ming well over 100 degrees for several
days in parts of the Southwest. There
were also some reports of an unfavor-
able tenor from Ohio Illinois. and
Iowa. According to private cable.
the crop In Austria Hungary will be
S0,co0,oo0 bushels smaller than in
1910