New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-27
CROP MARKET REVIEW
Grains Unsettled. Cotton Active
and Coffee Closes Firm.

were marked by feVerish, unsettled con-
dition of affairs, and the market at no
time has shown steadiuess worthy Of note
Balkan war news heavy interior receipts
q falling OF in the export demand and
covering by shorts have all influenced the
market, and the depression early i'm the
week was purely technical. In the late
trading the fact that the market had
been oyersold became apparent. and there
was . stronger feeling when shorts, rush
ing 10 cover. found little wheat for sale
Fear of untoward developments in the
Balkan situation was credited with this
display of strength but continuation OF
heavy receipts at interior points checked
the advance. the receipts. in fact. being
the most depressing feature Of the week.
Reports that Europe would need large
quantities of American wheat have not
been followed by Improvement in the for
cign markets. and there was falling off
i'm the export demand noted late in the
week.
cash prices have shown iirmness on the
fact that a large percentage of the eA-
portable surplus has been marketed. ana
while the prices of futures have declined
cash No red has gained a little on the
weeks average. Interior receipts for the
week were 500. 0co bushels. compared with
$4,000 the previous week and 5.1SIDO
last wear. Worlds shipments were n,o2o %
900 bushels. against 9,GO6,pO last week and
s 0g6 600 last year. The decrease In the
worlds supply was l,52i"o tushe's'
against decrease Of >,l32,"o bushels last
year.
Flour has been firm. hut trade is with
out improvement and sales have shrunH'
some mills selling not more than half as
much -four as they did In the preceding
week. The production at Minnea polls,
Duluth and Milwaukee last week was
Sq5. go barrels. against $3.50 in the pre-
yious week and 3ij. 400 last year tondi-
tons I'm the flour trade are not such az 10
encourage consumption on the liberia!
scale which has prevailed so far this sea-
son. Stocks of -four IN New York are
said to he fully a million and a half bar
rels. and If similar conditions prevail at
other points the demand has been appar-
entity well supplied and there is danger
| of congestion.
Corn. like wheat. has been Irregular,
being strong early in the week, with de
preston shown i'm the later markets ana
the close of trading heavy, with liberal
receipts reported. The Argentine crop
of corn is rapidly becoming factor III
prices. and the Liverpool Board Of Trade
| has recently arranged 10 receive direct
quotations from Buenos Ayres. Export
trade has been fair. some Of II al slightly
higher limits. and three careoes, contain
ing about sixty-six loads, were worked
late on Friday for export through Balu-
more. Interior receipts for the week were
Q lo7. 60 bushels. against $4,000 the pre-
yious week and G.735Dr last year
oats have presented no features OF in
terest Fluctuations have been within
comparatively narrow limits, with quite
liberal buying by commission houses
when the May option touched "a cents IN
Chicago. Worlds shipments were a.2'-'"
bushels. against $4,000 a week ago ana
! $4,000 last year.
The cotton market had one Of the most
exciting weeks on record. daily sales aN-
eraging over the half million mark. win
changes Of price as wide as s. bale on
the same dav. The principal feature oil
tho trading was the enormous amount 81
uouidation and short selling. Bear senti-
ment gained strength when the collapse
OF Monday was followed by THURSDAY
decline and the market was soon heaVllN
oversold The break Of Monday from sat
urdav's close was about - points. and
there was q recovery mp to Wednesday
close OF = TO 81 points. Thursday. how
eyer. saw a break OF - to A. points, ana
the result Of the condition IN which TINS
left the market was that when big Spot
interests turned TO the bull side on Friday
! there was a sharp recovery Of A. 10 A.
points. with the close firm at the top
The close Saturday found prices few
points above Fridays close, with the tone
steady on continued support from leading
trade brokers. The feeling at the close
suggested legs confidence on the bear SIDE,
although bulls have not materially IN
| crea sed their following.
While cotton may be forced lower
through unsettled conditions In general
business due 10 tarff talk and other
causes a large part of the seasons crop
has been sold 10 American spinners o. eN-
norted. and while Southern spot news Is
conflicting II is known that there Is NJ
| pressure to sci! in that quarter Inc
Census Bureaus ginning figures had beer
discounted and had no influence on inc
market. although there is a difference Oh
. ouarter OF n million bales in the est
mates as 10 what the figures really maj
oate and IL js argued that all the bullish
factors in the present situation have been
discounted
Coffee struck a downward slant early In
the week and did not recover until the
late trading. when big interests came INTO
tho market on Friday afternoon and abb
sorbed the offerings. continuing the proc
ess on Saturday. without however
showing any marked aggressveness. FOR
eien markets declined early In the week
gaining a little on Saturday, and cost ana
freight offers from Brazil closed niue
higher. the absence Of pressure from thh'
olarter tending to discourage snort sell
inc A private cable dispatch on Satur-
dav from Theodore a. Mills x 60. est
mated the present Santos crop at S,2DUu
haos and these figures were considered
bearisb by some traders in view OF pre-
,.ious estimates. The spot trade continues
dun and unsatisfactory and seems likely
to remain 30 until much Of the valoriza-
ton coffee has gone into consumption
In the country produce markets the ten
dency for the week was downward. owing
principally TO lack Of high quality III the
goods offered a considerable quantity OF
southern produce. mainly lettuce. arrived
in such condition that receivers abah-
. - 49,, I,f,o v.,rtI the cost Of