The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-09-16
EARLY DECLINE IN
PRICES IS RECLAIMED
Demand Suddenly Improves and There Is Less
Pressure to Seil-Governmen t Report
Proves Somewhat Disappointing.

~ owing to the great scarcity and hiGf
cost Of freight room. This will tend L
restrict fresh export buying 1t Is
agreed that practically all the export
room available has been booked foi
several months ahead. Hence the ex.
ports will be large. even though tbs
demand should subside for a while
During the late trading there was
more firmness. as short sellers became
nervous. and 1t seemed evident thai
the market had been oversold. Cover
ing was stimulated partly by encourag.
ing cables. and partly by wet weathe!
in spring wheat territory on both sides
OF the border. which will delay thresh.
ing and may cause some deterioration
The greater hrmness in Europe was
caused mainly by renewed reports re-
spscting the damage done by the re-
cent bad weather. The weather was
still unfavorabIe in France and Ger
many. and the Prussian Official report
was not satisfactory. There are trad
ers with bearish proclivities who be-
lieve that we can easily export 100000
900 bushels this year. but this is hard
ly conceivable. II we secure 100000.
900 bushels. as now generally agreed,
We shall have roundly. So.00O.000
bushels for export. it being estimated
that We shall use In this country &c.
900. 900 bushels for food and seed. in
which event our reserves will be re-
duced TO a decidedly low lever, as they
were at the beginning Of the season
Last years We were able to ship rath-
ed more from a smaller crop because
we had moderately large reserves To
draw upon.
Heavy OMerinxs Of Corn.
Corn has declined. The offerings
have been larger and there has been
more pressure to sell for both accounts.
.1olders for the rise have become tired
and discouraged. and hence anxious to
SELL Selling was stimulated mainly
by continued highly favorable weather.
the temperature being high for the
season practically all over the belt
Therefore 1t was claimed that the crop
had been forced toward maturity at q
rapid rate. and that the danger OF
frost damage was daily becoming less
and less The downward drift was
partly attributed to the highly favor
able tenor Of the monty crop report,
which placed the condition at s2.1, sug-
costing a crop OF 1895. 100000 bushels,
the largest on record, and should pres
ent conditions be maintained during
the balance of the month 1t is believed
that the total will exceed 5000. 000.0
bushels.
This is gratifying. as stocks Of old
are virtually exhausted. there being
near-famine in man1 places. Couse-
quently new corn will be in active re-
quest as soon as it becomes BILE.
Furthermore. the recent damage to
crops in western Europe will lead to
good export buying here in the near
future. In fact. fairly large purchases
were made this week, chiefly around
So to sec. (. o. b. December to March.
The unfavorable weather In Europe
also led to fairly large purchases Of
oats and feeding barley. but a bigger
-usiness was hindered by the scarcity
OF freight room. While the official re-
port was considered fairly favorable
on oats, 1t was not quite so rose-coi-
ored as had been suggested by private
estimates. the condif ION Of 92.3 nd
eating a crop Of 1.2so.o0o.ooo bushels.
whereas so-called experts had predict
ed over LAO, 00e, coo bushels.