The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-08-11
RECEIPTS ABUNDANT:
WHEAT rs DEPRESSED
Threshing Returns Are Favorable Material De-
cline Checked by Sharp Rise in Corn,
Following Dry, Hot Weather.

sew York. Angus, lo.-Factors OF n
conflicting nature were numerous
81 domestic wheat markets early in
the week that II was not difficult to
urder5tgnd the nervousness displayed
Is the majority OF traders Wheat
ana oats were for the time rclcEated
4 the background because OF the great
activity and excitement in corn. AS
Tar as wheat was concerned. II seem
81 evident that bcarish ideas had again
acccme popular and il appeared that
tho sharp upturu in corn was the only
thing chat prevented break in wheat
prices The value OF wheat would
sc greatly enhanced, In case the in
jury 10 the corn crop should prove to
ho rs serious as claimed. In some
parts Of the West, corn had become
50 scarce and dear that farmers are
reported 10 have found il advantageous
to substitute wheat as feed for live
stock
IN this connection 1t should also
he remembered that there has unQues-
tionRbly been q material loss In the
crop OF oats, the government showing
f. shrinkare Of fully 800. 100000 bushels,
ms compared with last years yield. The
rapid and occasionally violent nuCtua-
tons In corn were attributable TO the
many conflicting reports received re
specting crop conditions especially in
the Southwest
The monthly crop report Of the De
pa-tlnent Of Agriculture was not made
public untn after dom este markets
closed on Friday afternoon. Through
out the week II was anXiously awaited
by the speculative element, as il was
expected 10 reveal radical changes In
crop prospects In most essential par
ticulars II was found to be we'll in line
with average expectations. The gen
orally favorable weather in both the
Southwest and Of the Northwest
naturally had led to the inference that
the August report on wheat would
show a marked Improvement over July,
and this proved 10 he tho case. The
probable output or spring and winter
wheat now is given as 744.000.OOO
bushels against 7o1 600. 600 bushels in
dicated III July, and $50. 267, 600 bushels
harvested In 1912
Declines In Whcnt Values
That the trade expected such IN I'm
proVement was shown by the declines
In wheat values Of from to 8 cents
during July on the other hand. the
long period of hot and dry weather
recently prevailing in the corn and oats
belts left no doubt that tho crop
promise would be materially reduced
In anticipation OF such curtailment
corn prices were advanced il TO l21-o
cents since early in July, while oats
went up from TO cents in the same
score proved TO he we'll founded, as
the promise OF 2,97l.Oo0,OO0 bushels
OF corn in the July report was cut
down 10 2,672,0Oo.O00 bushels in the
August report The July report sug-
gested q crop OF ! ,o3l o0o. 900 bushels
for oats, but in the meantime many
traders had formed the opinion that
the yield could not greatly exceed 9O0,-
ooc,o0O bushels Hence the August re-
port was better than generally anti
cipated, showing n probable outturn Of
i.o2S ,000,0 bushels
Traders were decidedly nervous
throughout tho week. and the nu-
merous advances and quick recessions
indicated active liquidation for both
accounts At times tho tendency was
strongly upward This was mainly
In response to continued hot and dry
weather In the belt. Estimates as 10
the probable Weld in the Southwest
We're given reduced. II is the con