New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-09
CROP MARKET REVIEW
Wheat Prices Down-Cotton
and Coffee Higher.


,.d,esdav. the wheat market has
on downward all the week heavy
,~on coming on Wednesday under the
o'or .nce Of extremely optimistic crop
MT, norts and big receipts. With the
.pstantly increasing supplies the pre-
oO". for cash wheat has steadily de-
M and the loss on cash wheat for
'''"1 u'ook aggregates 15secents. That
~ receipts will continue is eX-
"a Of Northwestern points, Mime
nc and Duluth looking for an az
.note Of possibly $500 cars en- Mon
stocks at Minneapolis have in
,od $4,000 bushels in the week,
"A while the milling demand has alb
NOD a large percentage of the re-
lots the fact that the visible is
,a,inr q substantial increase is taken
indicate that the mills are slacken-
y. their demands on the stock avail
able.
The present demand is likely to keep
,.o however, as mills report good call
Iar four from handlers who have al
,,o,ed their stocks TO become depleted
d, consequence Of the recent range Of
,;.b nrices. Canada is reported 10 be
.onnting on 25O,00O000 bushels in its
cron. and while about a. per cent Of it
has been harvested, thrashing has been
,rte-fered with by tho weather. The
,vnort business has been interfered
r.ith by the prevailing high freight
rates. but export figures are given TO
show that so far this year 100000
bushels have been exported, or about
100000 bushels more than az the
same time a year ago. the weeks ship
nents being 1852 900 bushels, against
292sOO0 in the same week last year.
Corn has shown steadiness and there
has been q good demand for the cash
article, with September at times IS TO
% cents above futures, causing anxiety
10 shorts. While the weather has been
favorable so far and the prospects are
hat the crop will approximate 5000
m0OOO bushels, dealers are not over
boxing the fact that il will be about
the middle of October before the crop
will be entirely out of danger from
host The shortage in available sup
pies Of old corn is the dominant factor
in the market at present, the stock
being practically 100000 bushels less
han it was a year ago
Oats are in much the same condition
as corn, with available stocks sadly de-
peted, showing about 100000 bush
els, against close to 3O,OO0OOO last
year. Prices have held steady, and
while the export demand has slackened
for the time being, exports so far have
been about 100000 bushels more than
year ago at this time.
Cotton closed thc week with crop
scares in full swing, the Eastern belt
reporting damage on Friday and Texas
coming TO the front on Saturday with
stories Of deterioration. December
contracts reached l1.75 cents, or about
$40 "a bale over the recent low record
ia Saturdays trading, and an increas-
Ing general demand was noted The
advance is in line with bull talk of a
Big worlds trade and a heavy short
interest waiting for the lower prices
, PREDICTED with the advance of the pick |
Ing season Southwestern reports Of !
an improved spot demand would indi-
cate that this short interest is becom-
ing nervous over a waning crop out !
look and the steadiness which has fol- !
lowed the August report. Local spot !
interests have had selling orders in the !
hands Of their brokers on the bulGes. |
but there is little doubt that the av-
erase Of sentiment since the Labor !
Day holidays has become more bullish. |
Reports Of severe frost damage TO the !
Brazilian crop touched off a bomb in !
The coffee market. and right at the |
START OF trading prices began climbing |
IN Thursday the whole list went above !
he l4-cent mark and the advance held |
70 the end OF business on Saturday,
with heavy trading The foreign mar
ns also showed the effects OF the frost |
scare but on Friday showed a disin- |
ehnstion TO follow the advance any !
lufther. and closed on Saturday either
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