New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-23
CROP MARKET REVIEW
Grains ard Cotton Higher for
Week-COffee Steady.

w
There was q slight net decline early IN
-, week in wheat futures, but the mar
", soon hardened, and held steady until
Saturday. when an advance of Friday
VAS partly lost. owing to ball rumors
,scdpg confirmation, and a lower Buenos
.vr.s~ market, showing an optimistic
tas,,ng in the Argentine. The sentiment
n the market. judging by the weeks
trading, has changed, and bulls appear
mor. confident. They point to the fact
that with receipts to date of 126OOoo0O
bushels and spring wheat stocks Of 20,0oo,-
40 bushels there has been an increase
in the visible supply of only 100000 bush
els and the mills are credited with hav-
inc absorbed III. 10000 bushels since Au-
gust /.
On the other hand, reports Of damage
n the Argentine crop and rumors that
the Canadian crop had been overesumat-
Cd have been discounted, and Indian and
European crop prospects are bright. These
facts, with a bumper American crop and
No red cash quoted III cents higher
than a year ago at this date, while corn
and oats arc lower. lend encouragement 10
those who hold that the bottom Level OF
prices has not yet been reached.
There - little or no aggressiveness on
the BUN side Of the corn market, although
under light offerings and a fair cash de-
mand the market has shown steadiness,
the strength beng mainly due 10
the influence Of wheat. The end OF the
week found the market easier. weather
conditions giving rise 10 prospects OF I'D
eral receipts at interior points in the
coming week The movement amounted
TO $4,000 bushels for the week, 1om-
pared with ASSOC last week and 27s8''Vo
last year. The export grade closed S'2
cents under year ago.
Oats have been only moderately active
with the speculative interest compare
lively small. There has been no feature
Of particular interest, but it is noted
that the contract stock in Chicago is only
$4,000 bushels. a loss for the week OF
Is 600 compared with a stock year ago
Of 126l. 900 bushels. For the first time
this season the December option sold
even with May. No. white, cash, closed
the week 1872 cents under the figures of q
year ago.
There was a slight falling off in the
production of flour at the Northwestern
L. hut
Minneapolis mills are running full time.
Buyers. however. are trading only in a
hand-to-mouth way, but there are eX-
pectations OF better trade after the new
year opens. Minneapolis patents are 20
cents a barrel under prices at this time
last year
Cotton started the week with an evil
dent desire on the part Of bull traders to
get the market above the 13-cent limit
and peg Il there but the efforts were
futile, as AZ that limit there was a falling
of IN the spot demand and a slackening
Of interest i'm outside speculative circles.
The bureau ginning report, although re-
garded as bulish, broke the market
about y points. the slump carrying active
= trading months down 81 TO AZ points from
the high cf last Monday. which was the
record since July %. Final trading was at
still further reduction from Friday
hgures- although there was a slight rally
from the lowest in the late trading A
private cable from Liverpool on Satur-
day reported Continental and Manchester
buying, and said that an official esti-
mate OF the Indian crop indicated an In
creased production OF only $4,000 bales
over last year
Sentiment after the close Of trading was
unsettled and there are some who be-
ieve that the reactionary tendency or
the market reflects a disposition TO DIS
count a gradual slackening Of trade and
an increased acreage in the South next
spsing. In the mean time, 1t might De
well 10 remember that the spot figure for
middling upland IS now 31a cents a pound
or f7 20 bale, higher than x was at
this date year ago
Coffee trading was quiet and unevent-
tul until Saturday, when. on a short trad
ing session. more than 10000 bags
changed hands, with narrow range or
fluctuations and an extremely steady mar
ket Much OF this was credited 10 sales
against purchases Of cost and freight
conee In Brazil; but. whatever the cause
may have been, the activity was a sur
Prise to the trade. and contentious that
me market has been broader than sur
face conditions seemed to indicate were
hacked up by the comparative ease with
which the balls absorbed the heavy oHer-
hsS. The fact that Hamburg VIII DE
closed until next Friday and Havre for
tafoc days next week may have helped
INC selling with the Idea OF nquidating
Tor over the holidays, as the local eX-
Change has asked the board OF managers
10 close the day after Christmas.
In the domain OF country produce there
has been some easiness manifested In
butter cheese and eggs, although the lat
Ter have gained half cent on the weeks
average OF prices.
Small fruits and vegetables have made
no special mark In the way OF increases
Dr. decreases, and with seasonal activity
prices In the main tended downward ex-
eept for fancy stuff.
NO changes OF importance have marked
the traffic In either live cattle or dressed
meats although good veal calves have
cropped 70 cents hundred weight
only seven articles. including bred
SUNS and cotton. srow an increase In
average cost for the weak In the ,.S' OF
twenty-five a<t.cIes tabulpted b, The Trib-
one Eight have rsmainsa stationary,
Ill g.. -.