New-York tribune., 1913-07-28
CROP MARKET REVIEW
Grains Close Higher-COtton
and Coffee Weak and Lower.

! dlIu OUIICC WCON anu IOWSi'
While the price fluctuations in the wheat
market were narrow most OF the week
and declines were recorded. the market
has held pretty steady. Until Saturday
there was a standoff between export sales
as a bull factor and heavy interior re-
ceipts and good crop prospects on the
other side Of the market. On Saturday,
however. export deals which brought the
weeks aggregate well above 4W'eD
bushels and a demand for more freight
room. showing that the sales were for
prompt shipment. gave the market an up
ward turn which more than recovered an
early decline.
The demand from millers has also been
liberal. crop conditions are regarded as
| highly favorable and a Western predic-
/ ton OF 100000 bushels was made public
on Saturday. Receipts az interior points
have aggregated 1l.979oo0 bushels. against
| S.747 600 last week and 10000 year ago.
Worlds shipments so far this season, in
cudine -four. equal l96 10000 bushels. an
/ increase Of 100000 over the same period
Of 1912. Foreign crop prospects are good
Russia estimating an increase or Dv'''"
bushels I'm the spring wheat crop. In the
mean time, however, the demand from
Europe for wheat for prompt delivery has
| had an appreciable effect on stocks AMI
prices here.
From a speculative point Of view corn
has been the feature OF the grain markets
for the last week, with fuctuation some
times violent II has been a weather
| F,,aY little
or no effect. This was shown by the
course Of prices on Friday and Saturday.
on Friday there was a drop OF nearly
cent on predictions OF rain, and on Satur-
dav. when rain mad failed TO come as pre-
dictcd. shorts We're squeezed TO the tune
Of 4 net gain Of about q cent and q hali.
with the market closing strong and trad
ors nervous over the situation. Nhhe
worlds shipments for the week We're
5Ol5.OCc bushels. against 6,S52,pO the pre-
yious week the available supply IN thc
II-nited States decreased 2.o6l,ooo bushels
Oats have trailed along after corn, the
influence of the heavier cereal being sec-
ord only to that Of the weather. Nhile
II is admitted that the crop has suhereu
some damage. there are many who hold
that the damage reports have been cA-
aggerated and the market has been kept
on \ lower basis by the fact that large
suppues from last seasons crop have
made their appearance on the bulges.
Closing trades Of tho week revealed
little squeeze Of shorts, the jump IN prices
reaching lisc.
Business in -four has been tagging ana
prices have been on the nominal or
der with rumors OF secret cuts IN spring
wheat brands. Buyers have been care
full watchers OF the wheat market ana
arc purchasing no more than IS absolute
! ~ necessary. with the expectation or
drop in wheat prices when the new crop
movement Is further along. Minneapolis
I Milwaukee and Duluth last week pro
duced $3.50 barrels. against $1,000
week ago and 3i6.S0O last year.
The Slump in Cotton.
Every day in the last week cotton
prices showed a decline, not always Gov
ering the entire list. but enough 70 sho"
the essential weakness Of the market
This. also. has been weather market
and conflicting reports OF rains, either
actual or expected. have had strong ef-
feet. as II is the general opinion that al
though Texas and Oklahoma have COM
plalned OF heat and dryness, the crop
has not been so far damaged that good
rains will not retrieve the situation.
While there have been occasional spurts
Of activity and symptoms OF strength
they have been short-liyed. and late trad
ing showed active Southern offerings and
considerable liquidation.
Both the local and Southern spot mar
.l,ats have declined. nd the slump IN
futures has carried prices down 70 loss
/ of A. points, or nearly = /" pale IoLn
the prices Of q week ago. ran hlNeI
pript cloth sales. 10000 pieces Tor tne
/ uesk We're 115O00 pieces less than for the
sarne veek last wear. sales for spot de-
livery being 5000 pieces less. The stock
/ Of certircated cotton in New York mas
Increased 2OoO bales and the warehouse
stock 5000 bales.
Endurance in Coffee.
The situation in the coffee market is
best summed UP by saying that the course
of prices is a matter Of endurance In the
frbt between the consumers, who are
scrubbing along on as small purchases as
posslble. and the Brazilian producers VINO
are rapidly garnerinc crop nearly AZ
large as that OF a year ago. Prices mere
have tended downward in the face or ral-
idI,. decreasing supplies. decreasing nov
only i'm quantity but in scope OF assoIls
,nant. and an extremely small quanuty o.
/ coffoe adoat for this port ~ spite OF Iitt'
Strength of the statistical position u j.
,,otsvorthv that even the most pro
rounced bulls have not hesltated 10 Idhe
Drodts ON the slight bUlges when ave
occurred. and the whole market nas o,,.s o,,gl'
sIov about responding 10 buiIsh ue"s'
cvon lacking confidence IN advances 4'
/ Hamburg and HaVre. -.,,, .bo,,e "a
Gost and freight prices are sun apQte -
psritv with local figures, ana mere ~ ii 1o
apparent pressure 10 SELL !eI @ 2l a-'i,,i f,r,.'
Sto,ks are accommodating rapidly. ~
thing is certain that the conSuILl'lls , - In
:; 'cc'6ptonting itself with picking over W.
ls,,,,ils - etiI on hand and bothering ltsels
sur Sun iittle about the speculative ehd OF
W. ,,.,~llat This Indifference giving colyl
-, ,bs idea that there Is not SO 20 ,,,,l lIu,,
lo.C,,'i 10 III consIImption Of coffee IN thls Coun-
ag,u as E2yazilian growers give II credit Io''
Vegetables Plenty and Cheap
sunplies coming under the head O.
n.orrtrv products" have been plenty TOT
Tho week and in some cases the markets
have been glutted. stuff coming IN WINCH
vas not worth enough 70 pay cost lnsut-
orco and freight. Potatoes, especlally
Cror, the South. have arrived freely ana
Tho small fruits and berries are IN the
,,,arlats in abundance There have oeeh
.o,,,rIaints of the poor quality OF much
of the lettuce received, and as mas oeeh
,otad before. poor quality Of anything IN
A.