New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-11
'CROP MARKET REVIEW
Corn's High Figures-Cotton a
Weather Market-Coffee
Steady.

reached this season, after a week in
which active trading and sharp changes
had kept dealers on the rack OF uncer-
tainty, with the government report on
Friday serving as an added stimulus to
the bull side. The figure marks a gain
Of II cents a bushel within the last
month. and is only 21a cents under the
price en- August 9 last year.
The chief damage by the hot and dry
weather has been caused In Kansas, Ok
lahoma and Missouri. and showers late
in the week north and east OF Kansas
caused many holders TO realize. but when
the extent Of the advance is considered
il is no cause for wonder that there was
heavy unloading on the bulses. The close
OF trading on Saturday found shorts just
as anxious as they had been at any time
since the damage reports we're verified,
although prospects OF rain had caused an
easier feeling and closing prices for fut-
ures were split between gains and losses.
The wheat market has shown some re-
action, bearish sentiment becoming rather
more powerful than it was week ago.
even with the prospect Of an increased
value for the crop. due TO the falling of
in the yield of corn and oats. II seems
probable that the depression has been due
70 the inability OF an oversold market
TO Withstand the influence Of heavy re-
ceipts and bullish corn figures. The bulge
in corn has acted as sustaining force
in wheat. but as highly favorable thrash
ing returns came in that effect was over
come, and the market has shown a de-
chning tendency. Last trading felt the
effect OF the temperance OF export busi-
ness and steady cash markets.
Receipts for the week at interior points
were liberal aggregating ll,55l,0oo bushels
against 126s9.0O0 week ago and $4,000
last year The visible supply east OF the
Rockies increased $4,000 and the worlds
gain in visible was $4,000. against a loss
last last year Of 100000 bushels. The
government estimate Of IA, 10000 bushels
for the crop has been discounted by pri-
vate figures from we'll informed sources,
which claim yield Of 767, 100000, and with
harvesting under way In Manitoba an In
crease over last years crop amounting to
1900, 900 bushels is promised from Canada.
Under these circumstances It is not sur
prising that the market is weak and
stocks increase.
The movement OF oats was influenced
largely by corn. except in the late trading
when the government report, showing
larger Yield than had been expected by
tho trade, caused a reaction and heavy
liquidation. There has been an active in
quiry from the east. and the visible sup
ply shows a decrease OF l,025,ooO bushels
compared with only $500 last year
There is some holding of on the part OF
cash buyers. the opinion being held that
should the corn market break II would
drag oats down with It and larger
movement would follow. The close was
at practically Mondays finals, which were
the highest Of the week.
Cotton Prices Slump.
While the cotton market most OF the
week showed comparatively slight price
changes, there was a strong disposition
TO hold the market up in view OF the
weather conditions. on Wednesday there
was a rally which carried prices up 10
within few points OF the best Tor the
new crop months and 70 within about
cent OF the quotations OF year ago ior
new crop months. regain!ng the decline
OF the two previous days. on SATURDAY
however. the market took a down"aro
turn on improved weather conditions ana
under active liquidation sold into ne" 10"
ground for the week.
Statistics. trade conditions, foreign
markets and other influences are subordi-
mated at the moment 70 the weather map
and no further breaks Of importance are
expected until there are indications OF
good general rains over most OF the belt.
There is considerable new cotton accu-
mulating from the early crop In SOUTH
west Texas. and the movement seems
likely TO be the largest on record. Au-
gust shorts in this market are not at all
comfortable over the smallness OF the
contract stock here, which is not large
enough 10 protect August contracts
Coffee Irregular and Easy.
There has been further widening OF
the differences between near and distant
options in the coffee market in the last
week owing 70 the heavy trading In the
form O, switches Persistent efforts 20
establish a higher range OF prices have
been successful for a time. only 70 meet
sethacks, and Il Is evident that buyers
are not inclined TO pay higher prices as
long as receipts in Brazil continue as
heavy as they have been OF late.
In the late selling OF the week houses
with Brazilian connections were factors.
and as weather conditions there are good
traders are not disposed 10 take heavy
chances on the long side. Brazilian
weather is OF importance TO the market
lust now, as the Towering season Is on,
and its state during this season will have
a determining influence on values for the
balance Of the crop year. Spot santos
grades here arc about even with Brazil.
but futures are much below a parity with
Brazilian quotations.
Vegetables Plenty and Low.
The giut in the vegetable market noted
last week continues and. II anything, has
increased, with a generally lower range
OF prices. not only on fresh stun. but on
dry staples. Nearby supplies are coming
into active competition with Southern
produce, with the natural effect on the
market Storage warehouses are still alb
sorbing large quantities OF butter, eggs,
etc. and this serves 10 hold prices for
these goods on a fairly steady basis,
while perishable stuff has had 10 go by
the board The small fruits and berries
are in abundant supply. and II seems that
repeated warnings have had their effect,
"a ths-e are comparatively few COM