New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-02
CROP MARKET REVIEW
Conditions of Last Year and
Outlook for 1918.
GRAINS GENERALLY LOWER
Bumper Crops Affect Prices of
Breadstuffs-Cotton Higher
Top Figures for Livestock.

WtEAT.-The close or 1917 showed
complete reversal from conditions which
prevailed when the year opened. the
bumper crops OF this year following the
shortage of 1911, and conditions were not
fairly settled on the upward turn until
the status of the years crops was prac-
,icallv assured The fluctuations in wheat
rrices during the spring and summer
months were naturally affected by varying
weather conditions, and the June report
Of the Department of Agriculture. in which
the poor winter wheat condition was off
set by an increase I'm the spring whea;
estimate. started a downward drift which
was checked by big reductions in the
worlds available supply. The July re-
mort showed a loss of ! per cent where
an increase had been expected. The Sep
ltember report was a shock to bears. the
condition Of spring wheat being given as
SOS where "a had been expected or an
indication Of 500, OOO. 900 bushels against
an expectation Of 800. 600. 600 bushels
The Balkan war had only a temporary
effect OH the market, fluctuations on ac-
count Of reports concerning the distribution
~ ire Russian and Danubian crops af-
fectinc only the speculative interests, and
European and Argentine crop reports,
when the danger Of interruption 10 Euro
pean transportation was minimized, came
IN strong on top Of the governments final
festimate OF $50. 900 bushels, which had
lbeen discounted by dealers. This big crop
has not resulted in any abnormal increase
Of supplies visible. as ii came in after a
short wear. and there was almost no -four
! or old wheat reserve.
Receipts at primary points are likely to
dwindle from now on, as farmers who are
not in need Of cash are known to be un-
willing 10 accept current bids. The win
ter wheat crop now growing is reported
bv THE Modern Miller" TO be In excel
lent condition, the figures being 3d.
against $50 a year ago, with probable
crop of 466.S7S 900 bushels. from 32,3S1,COO
acres. These figures must be considered
in connection with the fact that there VIII
probably be important deterioration and
consequent abandonment of thousands or
acres during the winter and spring.
CORN-There are few features of the
corn trade which differ materially from
those of last year. except that the larg-
est crop ON record has been produceu'
The consumption of the king crop. both
I'm bushels and gross value, has not yet
caught up with consumptive demands
and the high prices of spot corn during
the summer, and even after the new crop
had begun to move, showed plainly how
perilously near the vanishing point the
reserve from 1911 had gone. With stats
ticians asserting that there are 10 dif-
ferent uses for corn. against the demand
from distilleries and livestock feeders not
so many years ago, the increased demand
is accounted for. IT appears TO be the
general opinion that crop of 3.eeO0e0'-
coo bushels can he taken care of here
without the necessity of foreign trade to
keen prices within range of profits ana
this is the first wear in American history
when 4 crop of more than S,"p,co,@"
bushels has been produced That the
market was not materially weakened
when this enormous crop became a GER
tainty shows the underlying stability OF
the demand for the crop and its PROD
ucte. In this connection it is TO be
noted that prices for hogs and cattle
have reached a high record, and the
slaughter of sows and calves which
would turn a lot of corn into meat is one
recrettable feature Of the situation.
OATS-The trade has not been so sat
isfactory, although a bumper crop ana
higher prices in the last half OF the
year Offset much grumbling during the
earlier months. There has been an ac-
tive export demand, and in spite OF
the heavy yield supplies have not be-
come burdensome, as II has taken some
time TO restore stocks of reserves TO
their normal proportions. Ffrmness
throughout the rest Of the winter Is
looked for, as the consumptive demand
has been steady and It IS believed that
most Of the surplus raised by farmers
has been marketed.
The final estimates Of the Crop Report
ing Board Of the Bureau Of statistics
tased on the reports Of the correspond
ents and agents Of the bureau, indicate
production and value (based on prices
paid to farmers on December y of impor-
tant farm crops Of the United States In
1912 and 1911 TO have been approximately
as follows:
Farm value Dec. !.