New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-29
THE CROP MARKETS
Big Grains Show Reductions
Cotton Passes Is Cent Mark.

Weather conditions, crop prospects fears
Of black rust and reports from crop eS-
perts who have watchful eyes on deN"i-
opments In the wheat growing states
have kept the wheat market vibrating
within a 3Ia-cent limit during the week
inst closed. the net result OF speculative
trading being a reduction OF little more
than a cent bushel from the prices rul
ing a week ago. In the main the pros
meets are favorable for yield sufficieht
10 insure an exportable surplus large
enough to have steadying effect on
local prices, which will be more subject
10 foreign trade conditions. There Is or
course, a possibility that black rust may
have q serious effect on the wheat CROP
as IL is not forgotten that when the rust
appeared in 1904 II upset all calculations
and practically ruined the crop. and as IL
made It's first appearance In late July
there are fears in some quarters that the
history OF the visitation may repeat Itself
These fears, however. have not so far
been strong enough 10 offset the optimis-
tic reports sent In by the various experts
who are in the wheat growing states.
Corn has followed the lead OF the more
valuable grain, with weather conditions
and plentiful crops keeping prices gen
orally on tho down grade, although mo
reduction has not been enough 10 cause
comment on the contrary. oats show
an increase in cost OF nearly three cents
a bushel, although a break In the July
position left the market at the close In
slightly easier condition.
In cotton there has been sensational
Increase the climax OF the week coming
In saturdays trading, when the whole
marked topped the 10 cent level, closing
strong. The annual July crop scare came
to time, Texas reported the possibility OF
a serious deterioration. the spot demand
was active, short were scared and bulls
took advantage OF II all TO collect some
profits. The Texas reports complained OF
drouth and declared that the crop would
be In a bad way unless rain and plenty
of Il came within short time. Expec-
tations are still for a bulllsh condition re-
| mort on August 2, but astute longs are
| In instances inclined to the belief that
| forcing prices much higher VIII Work
| the wrong way, while admitting that
| rush of outside buying will naturally push
the market 10 possibly new high record.
In the provisions markets firmness mas
been the rule. and livestock prices indi-
cate that an upward movement Is imml-
nent. although the difference between
the cost Of livestock a year ago ana AZ
the present time by no means accounts
legitimately for the increase IN retaii
prices. All classes OF livestock show IN
crea sed cost, ranging from 20 to % cents
n hundred pounds. The difference IN
nrice between a year ago and now on
good to prime steers ranges from III so
TO 81 a hundred pounds. the figures peing
| 81 50 to 80, against IS % to - last year
The marked contrast between this adj
vance on the hoof and the rise In prices
| Of cut meats at the retail shops IL the
cause Of much comment, as while the
packers may claim that there are less cat
tie coming to market and back up their
claims with statistics and assert that cat
tie are running lighter In weight with no
| fear Of contradiction, the cause for re-
tail advance so far beyond the Increase
| In first cost has not yet been explained
| TO the satisfaction Of the average house
keeper.
In coffee the fluctuations have been
| mainly OF a professional character. with
the market awaiting news of the flower
ing Of the next crop, this being indicative
of the extent OF the yield. The Brazilian
dealers still hold firm, and their demands
are so far above parity with local quo