New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-25
CROP MARKET REVIEW
Grains Show LoSSes-Cotton
Higher-Coffee Lower.

week just ended, bearish sentiment was
strengthened by local conditions and
wea kness in foreign markets, with trade
proceeding on cautious lines. War news
from the Balkans exerted influence both
ways, and an occasional bullish tendency
served TO check slightly the general down
ward. tendency. but these checks were only
temporary until the fear Of bullish devel-
opments over Sunday brought out week.
end covering, which wiped out an early
decline and left the market at a gain Of
&c oves Fridays closing figures. \ feat
IRE Of the situation was the remarkable
weakness Of Liverpool in view OF the I'M
certainty regarding the Balkan situation,
both futures and spots there showing re-
auctions. Heavy offerings abroad from
both Carada and Russia mako II APP
parent that these exporting countries are
rushing their wheat 10 market in order
to secure as high a price as possible be-
fore the Argentine crop comes on the
market. The new Argentine wheat will
be available about the first OF the year,
able. Receipts at American interior points
| have continued heavy, amounting for the
week to 11,S47,0O0 bushels, against 49,
$4,000 bushels the previous week and 4
90l 900 bushels for the same week last
year. On the assumption that many farm
ers have marketed the bulk OF their sur
plus wheat and that those who have not
are not inclined to accept current prices,
many dealers hold TO the belief that re-
ceipts will soon show substantial reduc-
| lions and that prices are down TO what
may be called "debatable ground" To
show how the East Is dependent on the
West for wheat, II is interesting 20 note
this this year 81 per cent Of the total
wheat crop was raised west OF the Mssis-
sippi River against sc per cent for 1911
and 1910 and y per cent in 1909, the
states east Of the river calling for GO per
cent OF the crop and those west 81 per
cent Corn has been unsettled and gen
orally tending downward. a slight rally
on Saturday regaininE part Of the pre-
| viOUs loss. Receipts for the week were
moderate. amounting 10 3,1g1,OO0 bushels,
| against 100000 bushels last year, and the
| ket more freely seems TO indicate that
! farmers are not anxious to accept current
| bids. There is a general impression that
there will be an unusually brisk consump-
/ tive demand, as low prices for corn and
| high prices for cattle and hogs will cause
| free feeding OF grain which otherwise
would come into the market Oats fol-
| lowed the lead OF the larger grains and
declined during the week with a slight re-
action in the late trading, although on
the whole the market was more steady
| than that for wheat and corn. The fact
that consumption shows surprisingly large
! figures offsets I'm measure the effect Of a
crop OF 1,41G, 900, 600 bushels which COM
pares with 1854, 600 bushels last year.
Steady and consistent buying broad
ening OF speculation and covering by
heavy short interests have caused cotton
futures 10 climb steadily upward, touch
ing new high records for the season. with
reactions only amounting TO temporary
checks on the upward trend. The as
sumption that the crop will be under
1900 OOOO bales. with spinners' require
ments at least 10000 bales above that
figure, has brought a big speculative in
terest into the market, and buyers who
counted as bulls when the market was
nearing the 10 cent limit are credited
with having unloaded more than 10000
bales on the recent upturn, which was
absorbed with hardly q gulp, and the
/ market kept right on upward. Crop est
mates here have not averaged over IA
/ O00, 600 bales. and local bulls. who on Sat
| urday realized their expectations Of 12is
| cent cotton, Immediately began talking
| higher levels. some even mentioning q
| cents. basinG their optimism on activity
at the mills. an increasing demand for
/ drygoods at advancing prices a strong
4 spot situation and a feeling that future
| census reports will confirm estimates OF n
/ smaller crop A feature Of this bull sen
| timent was trading after the close on
] Saturday at an advance over the official
closing figures Of 4 or points.
! Coffee trading has been a dull and spir-
| itless affair. with price changes keeping
within a narrow range and the general
! tendency downward. Late I'm the week
| holders made n show Of frmness and ap-
parently decided TO walt for higher
prices, owing to reports Of smaller sup
plies and predictions Of smaller crop
next year one feature OF the market
| has been the failure OF bullsh cables
| from Brazil 10 sustain prices, but this
could hardly be expected. in View OF the
! contradiction caused by uneasness I'm the
| cost and freight market. Fairly active
! local buying at times has been counter
| acted by selling on European account,
and IN the spot market buyers have been
! Indifferent with sellers inclined to make
concessions in order TO effect business.
| Country produce markets show few
| changes OF Importance for the week. Po-
tatoes and butter have gone up little !;
cheese and eggs have held about steady,
with q shortage Of the highest grades Of
eggs and a corresponding turn OF buyers
TO the best grades Of storage and West
| ern gathered goods. The general run Of
trading I'm vegetables and small fruits has
been along comparatively steady lines.
The market for livestock ooain shows
/ the contradiction OF increasing prices for
! cattle ION the hoof' and unchanged or
lower figures for the dressed product
although the changes are only fractional
the largest increase being % cents hun
dredweight on beef steers and the largest
reduction one-fourth OF a cent pound
| on veal and mutton.
! The general average OF twenty-five arti-
! Giles OF current consumption tabulated by
| Il