The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-08

lievc that the small yield OF other
crops as previously mentioned will
more than counterbalancs the larger
production of wheat. Unquestiorably
n gain of 100000 bushels in wheat
as compared with last year is a moro
bagatelle when we take into cousid-
Grafton the enormous loss in corn. oats
and potatoes. In tho opinion OF un-
prejudiced dealers, markets nrc now
on II domestic rather than an export
basis. In short. the course OF prices
will be shaped chiefly by domestic In
;uences. This opinion is based OH tho
assumption that European importers
Will in the future look for larger sup
plies from Russia and Canada, as we'll
as India. Consequently, our clear
arces may show some diminution In
the near future.
Tho downward tendency was arrested
temporarily by report from Score
tary Fowler. OF the Northwestern Grain
Dealers Association, placing the Cana
dian crop NJ 176,920. 900 bushels, which
is slightly less than privately estimated
in the recent past and. In fact. there
are many authorities who assume that
II will reach 200, 000,0 900 bushels Tenn
porary ;irmncss was caused also BY the
Modern Miller report. which was con-
sidered slightly bullisn. as il stated
that Il much larger quantity of wheat
was being fed 10 farm animals than I'm
any previous season Furthermore.
blowing for the next winter wheat crop
has beer delayed by the protractcd
drought. and resultant hard condition
of the soil OF course. il is too early
yet to worry much on this score. Re-
Gently the export demand for our wheat
has bctn lighter, while exporters have
contracted for fair quantities of new
Manitoba for October November ship
ments.
Further Rise In Corn.
Corn has been exceedingly strong. es
pecially early In the week. prices ris
ing TO new high levels. Speculative
buying was on an extensive scale, and
prices fluctuatcd somewhat violently.
attended by much excitement. In the
Southwest the weather continued eX
ceedinEly hot and dry. which served to
convince many dealers. heretofore skep-
teal, that the crop would be exceed
ingly short. In the Judgment of many
conservative traders, the market is on
debatable ground. Some argue that
the advance has been so exceedingly
rapid rs to practically discount all of
the damage Many members OF the
trade who were heavy buyers a few
weeks ago have recently been anxious
10 take in profits They contend that
the upturn was entirely too rapid. and
that the buying has been overdone.
They also argue that the advent OF
copious rains over a wide area would
help the crop materially. 1t is also
pointed out that the scarcity and high
cost will serve to greatly reduce con-
sumption, especially on farms. doubt
less a great many farmers would pre-
fer to sell their hogs and cattle, or else
substitute wheat for corn. Unle IS
prices rccede sharply. It is thought
proba BILE that glucose manufacturers
Will buy further large quantities in
Argentina. The exports from the lat
ter country have continued on n large
scale, over 1000. 900 bushels during the
past week, including 2S9.000 bushels 10
New York. 1t is the consensus of opin-
ion that the next government report
will indicate crop OF not much over
$500 600, 600 bushels