New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-17
CROP MARKET REVIEW
Grain Prices LOWer-CottOn
Tending UpWard-COffee
Down.

OUWIl.
All grain prices have declined i'm the
week lust ended. with general liquidation.
large stocks. optimistic crop reports and
tho government report on farm reserves
&c the principal causes There was some
,-rsrplarity early in the week. uut the
,,,e tradins was on easier markets. both
q, home and abroad There have been
factions. and shorts have found it diff
cult at times TO cover without causing
sharp advances.
Argentina continued to shop freely and
willie the movement from Russia was not
large. owing to the Balkan war there Is
well grounded opinion that Russia can
chi, three or four million bushels of
wheat and have enough left TO satisfy a
large home consumptive' demand. Added
n a possibility that countries from which
demand was expected might turn sell
lsrs Western authority estimates that
,be-e is a surplus here for export and
.,-~y.over of 100000 bushels compared
with 100000 a year ago. and that on
basis of -50Ol0oO for export I'm the next
four months there is still margin of s.
$1,000 bushels.
The downward tendency or prices was
checked iu measure by the Unexpectedly
small increase I'm the worlds available
.upnlv. and the decrease i'm Canada Of
$4,000 bushels. against an increase in the
,ame week last year of 5.o@2.oo0 bushels
The May option has been the weak point
o. the market. holders i'm Chicago taking
opportunity 10 unload on the bulSeS.
Corn has shown only fractional losses
br the week. but the market. while
stronger than that for other grains. de
vsloped Nervousness late IN the week
under the Influence Of heavy long line
which operators feared would 60 into liQui-
iaton on any sharp advance There is
BELIEVED 20 have been a large amount of
.sh. corn sold against in Chicago. which
has been absorbed by spectators, and the
recent situation iu the coffee market seems
10 have been almost duplicated in corn
AZ the close Of the week cash markets
we're al discount under futures
Llou.daton I'm oats. with heavy Chicago
interests selling freely and the general
sentiment bcarish. caused "a fan in prices.
rallies being due more 10 covering Toy
shorts than 20 any other cause.
Flour has been depressed. although no
changes IN spot prices have been mace
here. Bookings have fallen short OF the
lutput which al the three Northwestern
centres has aggregated 1895 barrels,
against 33g 13G last week and 3il'l% last
year
Trading .n cotton futures has not been
active. and while there has been at times
tendency toward lower prices the mar
ke, has readily absorbed offerings. l"N-
slpool has held better than expected. re-
ports from spot markets have Deeh hioIe
encouraging and rallies have been
caused by covering Of the large snort
interests Trade buying on the drops mas
been good also, nut with all that there
lave been enough features on the otheI
SIDE Of the market 20 discourage any eX-
tended bull speculation
The visible supply is smaller than II
VAS year ago, but prices are neaIiy
NO cents a pound higher than they were
ten. and there il strong belief mat
Sproximately 10000 bales are still held
r the South awaiting worth WINE
tglge i'm prices. For this reason bulls.
while apparently fun Of confidence, are
ir-ined 20 go slow about taking on any
extensive obligations
t. Coll &
coffee market in the last week, and prices
scored new low levels for the movement
On Friday. with slight recovery nea'
he close Of trading. due 10 the creation
q a moderate long interest based on the
dea that tne end Of the decline had beeh
reached As has happened before recent
ly the reaction was swamped on Satur-
DAY. When foreign markets weakened IN
stead Of responding 10 our advance, ana
he end Of the week found the maT"et
nervous and weak. with prices more thah
two cents IL pound under those OF year
tgo, and optimistic reports as 10 ne"
crop prospects from Brazil cost ana
freight offers seeking purchasers al re-
auctions Some Of the weaker elements
have been cleared out by the depressoiL
Which has forced liquidation oil some
long Commitments and the putting out OF
hedges against stock.
well known Front street house au-
'anees a. a bull argument the decrease
~ The worlds visible supply Of l,iV''Vo
Gags in January and February. with
lGither reduction Of 2.5oo0o0 bags likely
ID The next four months OF the fiscal year
eading that the ordinary consumptivc de-
hand requires more than will be avail
aoie Of the Santos supply if the law limit
's exports remains in force.
IN The country produce markets the de-
'"ne IN eggs has been the principal feat
IRE loss 81 more than three cents IL
uozen being recorded Tor fresh gathered.
mere have been little more Dian seasonal
'lanyes in other lines. with fine grades Of
az stock IN demand al full prices.
livestock and dressed meats have adj
'ahced. the former materially. the latter
v"E iractiOnally. in the week, the only
'hcfption being country dressed hogs.
mich hold at last weeks figures. The
Hish prices Of meats are apparently hav-
"s the effect Of causing a larger con
sumption Of grains, If the opinions Of
'sfiers are well found ed.
me trend Of average spot prices ia this
MARKET has been upward. the tabulation
%enty-fye articles by The Tribune
moving gains In twelve, Losses IN seven.
I'm Six remaining UNCHANGED. II should
note1. however. that ten Of the in