New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-02
CROP MARKET REVIEW
General Tendency of Prices Up
ward-Crop Prospects Good.

Ward-Cr0p prospects o0ou.
rirmness has characterized the mar
,.,s for grains in the week just closed
although the wheat market here deVei-
mod weakness in the trading of Satur-
Aav owing to uncertainty as TO hap
.oni,gs over the holiday. The strength
- The cash situation has been promi-
,,ort factor in the strength shown, as
.ho futures are naturally affected by
tho increasing assurance Of bountl-
trt crop and prospects Of very heavy
cement in the immediate future.
feature Of the wheat market has
Ion the falling off in export business,
,... % the increase in freight rates, the
-..adv advance in which has made the
rrohability OF export sales more re-
mote than ever. except where freight
,oor, has already been contracted for.
,rh,s advance. with the practical GER
.ainty that the English and Continen-
col wheat crops have been damaged
No the abnormal rains recently, makes
situation which exporters are not
,.;or,;rr with equanimity \ disturb
inc element IN the late trading was
renort that an effort would be made TO
,o,o velvet chaff wheat made deliver
,t1o y, contract in the Chicago market,
ai,bouRh II was not thought probable
that anything of the sort could be
done that would affect the prices Of
the present crop.
With the corn crop not entirely free
from danger Of killing frost, the mar
let has shown much strength, promi-
,,op+Iv so in the cash situation, which
has been at a premium as high as >
- 10 cents over September and lSlc
cents over December. the latter an ad-
vance Of 16 cents over the correspond
inc prices a year ago. In Saturday
trading September showed weakness,
and there was an appreciate drop.
Scarcity Of cars is complained of in the
West. the lack of transportation re-
stricting the movement of old corn >
Tho tempting prices of the big distrio-
uting centres, and for the first time III
wears the stocks Il public elevator ana
contract corn at Chicago have disap-
peared.
oats have had a cash situation
strong enough to Offset for the time be
ing the enormous crop in sight Inc
had weather in Europe, which has
damaged the forage crops, has given
rise TO a big export demand, sales, ac-
cording to some authorities. aggregaI-
ING from 100000 to 100000 bush
els indicating that Europe has needed
American oats more than American
wheat. Last sales Of the week indi-
Gated a somewhat easier market, infiu-
enced by heavy interior receipts.
Cotton futures as we'll as spot prices
have declined during the week under
heavy receipts at Texas points, faVor-
able crop reports and a general feeling
in the trade that the government
condition report. TO be published at
noon on Tuesday, will show such slight
deterioration for the month that it VIII
have a bearish effect. The crop is es-
timated at 100000 bales, but trad
ers on those figures are remembering
that at least couple Of million OF
bales of last years enormous crop of
100000 bales are still in hand and
must be counted in the available sup
ply. In addition TO this, spinners, es-
pecially European. are believed TO be
far better supplied with raw material
than they have been for year past.
Lately they have bought some futures,
and at present prices for raw cotton the
mills are doing a good business and
making good profits.
Coffee has undergone several quick
changes I'm futures. with trading quite
active at times. Bear pressure from
Europe, lower firm offers from Brazil,
liquidation and quiet spot business
have contributed to the declines, which
have met fairly steady support, fol
lowed by rallies. The Brazilian crop
is said TO be suffering from dryness
and receipts have not been heavy.
In the vegetable and small fruit mar
kets supplies i'm most instances have
been ample and prices have been cor
respondingly weak. Butter, cheese and
eggs have more than held their own
scoring slight advances, owing in SOM
cases 10 shipments being made under
limits Of price. These markets are
firm and have hardening tendency. a
Livestock has advanced sharply. the
creates increase being in the class of
beef cattle known as good to choice
native steers, which have been marked
up about cent pound on the hoof.
with calves raised almost as much.
Current quotations are from 81 40 t.
81 SO hundred pounds higher than
they were a year ago. At the same
time dressed meats have made a stand
on beef and veal shouino fractional