New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-21
CROP MARKET REVIEW
Balkan War Causes Unsettled
ConditionS-Cotton Drops
to Low Level.

War news, a sharp fall in prices on Eu-
ropean stock markets, universal COW
ering OF shorts and a good export demand
were responsible for a rapid advance in
wheat at the beginning Of the week. The
sharp rise on the foreign exchanges over
the holiday on the 18th, and again on
Monday caused excited trading In this
country, with opening prices we'll up
from those at the closing of the previous
session. prices in Chicago advancing as
much as three cents in a day. The fear
that the Dardanelles would be closed,
shutting off the supplies from Southern
Russia, which country alone has exported
as much as two and a quarter million
bushels 81 wheat in a year, was the cause
Of the greater part of the uneasiness.
After the first scare, however, the mar
ket became easier. With heavier offerings,
for which the demand held, a recession
followed, in spite Of the fact that daily
reports showed that the situation in the
Balkans was becoming more strained
every twenty-four hours. Toward the close
Of the week the market showed signs OF
becoming irregular and unsettled, but
there were no fluctuations Of Importance.
May and December wheat, which opened
on the local exchange at lO23sqlo5Ss, re-
spectively, on Monday closed at 80 9-l6g
1872 Saturday
The same influences which dominated
wheat early in the week were responsible
for a similar movement in corn. Heavy
covering by shorts and the rise on the
foreign markets. Liverpool having ad-
vanced from lBd 10 Pad on Monday,
found reflection on the New York mar
ket, although the rise here was Lot in
with that abroad.
The worlds shipments Of corn for the
week gust closed were far in advance OF
those for the same period last year, being
6 449, 900 bushels, against l,l72,coO bushels in
1911.
oats started the week with an exhibit
ton of strength like that of other grains,
but shared in the general reaction that
set In about Wednesday. The stock Of
oats has dwindled 10 small proportions,
but prices remain well up. In spite OF
the fact that a crop reported TO be un-
usually large is at hand.
Trade in Hour was not 40 active during
the past week as was reported FOR some
weeks in September, but most mills IN
the Northwest have been working up 10
full capacity Minneapolis responded 70
the rise In wheat at the beginning OF the
week, and prices rose In some cases ten
cents a barrel. Export trade was re-
ported as fair for the week just closed,
and many OF the mills are working 10 MI
orders, which are IN excess OF
their producing ability.
Cotton engaged IN a moderately active
movement early last week on foreign
war adyices, extensive receipts, favor
able weather throughout the cotton belt
and heavy Southern hedge selling The
trend OF the market was downward gen
orally, and on Wednesday prices In some
instances reached the lowest level they
had attained since last spring. october,
and December deliveries led
the downward movement, and at the
lowest prices were from so 70 65 points
OFF from the high figures OF Friday
week ago. The action was generally at
tributed 10 disCOuragement on the part
of many operators, commission and
trade interests who had been engaged
since early summer in bOistcring up the
market Liquidation was heavy, ana
there was also a doubling up on the
short side by several traders.
A list Of two dozen articles Of univer-
sal consumption compiled by The Trih-
uue shows that during the week there
were increases IN the average price OF
eight. decreases in eleven and no change
in five. Butter was y cent lower. quot
ed as an average at 2Jia cents pound
while eggs were the same price dozen
as the previous week Cheese Of the
better grades continued unusually
strong. the average price for seven days
being l75s cents a pound, - Of cent
above the previous weeks average.