New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-02
CROP MARKET REVIEW
Grains Declining, but Cotton
Prices Firm and Higher.

Wheat prices during the week just
closed have shown a downward tendency,
in the main due to big worlds ship
ments, lack of export demand. large re-
ceipts and increasing stocks. Late In the
week prospects OF smaller worlds ex.
ports had a stimulating influence on tn
foreign spot demand, but the clearing
aspect of the foreign political situation at
fected the Continental markets unfa.
vorably.
The worlds stock for the week in
creased 12,14SOOO bushels. and is now 2Ol,-
$4,000 bushels, against 2O3, 104, 600 last year
and 19S 6Sl 900 in 1910. These figures seem
10 indicate a coming period of compare
tive independence Of American wheat on
the part OF Europe
The condition Of the Argentine crop is
regarded as a prominent factor In the
market in view Of the apparently large
short interest in this country. Latest
news of the week was that some damage
had been caused in Argentina by recent
heavy storms. and similar rumors recent
ly sent shorts to cover with rush.
In dealings in corn there have been
several weak spots, but they have not af-
fected the market to any extent. az there
has been sufficiently steady absorption
OF the supply TO prevent any big increase
In the visible figures. The new crop has
not been offered as freely as had beer
expected, the inference being that farm
ers are holding their stocks for better
prices. The market has maintained o
steady front against some heavy selling,
and this has tended to make shorts ner'
vous at times. Worlds shipments for the
week were slightly under those Of the
previous week, but nearly 100000 bushels
more than for the corresponding week
last year.
Oats have also maintained steady
tone. based on the steady and large con-
sumption and the fact that. in spite OF
the enormous crop. available supplies are
small. Export business has not been
large enough 10 affect prices. and latest
trading for the week was on a steady
basis.
Cotton has passed through a week OF
stormy trading. with excitement al times
approaching the border line OF panic,
enormous sales and violent fluctuations.
The market has shown a repetition Of the
bull wave of last July which carried
January contracts up to 1880. Since
then the same month has sold down 10
10. &c. and on Friday of the week just
closed worked back 10 12.S9c, with small
reaction just before the close of trading
and a further slight drop on Saturday
The bull movement has been based al
most wholly on the assumption that the
crop will be less than 100000 bales, with
which 10 meet worlds spinners' require
ments of $4,000 bales, as estimated by
we'll known English authorities.
While there has been very heavy selling
on the bulges. 1t has come mainly from "a
desire to take profits, and it has been
noted that on the failure OF the reactions
to show any permanency sellers have not
hesitated TO come into the market and
buy back their lines at an advanced price
1t is worthy Of note that. with the move
ment still on a record breaking scale and
the visible figures the largest on record.
mddling cotton at the principal receiving
points holds steadily between 12Ssc and
lSc There is every ground for belief that
there are some lively times ahead in the
cotton trade, with the census ginning fig
ures due on December and the final
government crop report three days later,
the violence of fluctuations indicating the
possibility of trouble in case q break
occurs.
Coffee trading mas been Of spasmodic
character. dependent on advices from
Brazil, which OF late have shown bullish
tendencies The spot trade has been
light, and dealers in the interior have ap-
parently been unwilling 10 accept present
quotations as having permanent basis.
Latest business OF the week was apa-
thetic, and with outside interest almost
wholly lacking bears inclined to be timid
about taking the short side. and bulls
not anxious 10 buy on account OF the slack
spot demand, the tone Of the market at
the close was distinctly nervous.
In country produce, small fruits and
vegetables have shown no important
changes in prices, figures paid being regu-
lated by supply and demand and the
quality of the goods offered. Exceptions
to tire generally even tone Of the markets
have been made by butter and eggs, which
have increased in cost materially, the
former ~ cents pound for the best
grade, and the latter a fraction on the
dozen for fresh gathered.
The question Of storage eggs is rapidly
becoming important. and there are not
wanting indications that a large quantity
OF such eggs will be placed on the market
before long in competition with fresh
gathered and other grades below the most
expensive.
Live cattle have shown little IL any
change for the week. and prices OF the
dressed products have declined slightly,
but good TO choice native steers stu show
an increase both in cost Of 81 50 to 81 80
hundred weight over year ago.
The general trend OF the markets for
the week has been downward, only seven
of the twenty-five articles tabulated by
The Tribune showing increases In cost,
while ten show declines and eight have
remained at the same average as for the
previous week.
THE PRINT CLOTH MARKET.
NV Telegraph to The Trlbunel