New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-17
CROP MARKET REVIEW
Grains, Coffee and Cotton Show
Declines for the Week.

Declines for the Week..
Bearish conditions and sentiment have
prevailed in the grain markets for the
last week and in spite Of spasmodic ef-
forts to keep prices from going lower the
decline has been marked. The wheat
market has been depressed by dsc6urag-
ing cables and the unusually large move
ment here of hard winter wheat. Crop
scares are nearly due, and shorts are
likely to be nervous until the Department
OF Agriculture makes its May report on
the wheat area abandoned. Last spring
there were $4,000 acres abandoned.
against a normal loss Of from one to two
million. There was rally in Saturdays
early trading, which brought prices up
little above the close Of Friday. but the
advance was quickly lost under renewed
selling, and the last figures Of the week
were at the low point. Some business has
been done for export but the foreign de-
mand fell off late in the week. The
bearish feeling was based on free offer
ings Of Argentine wheat and beneficial
rains in India. which tended TO depress
the foreign markets. with larger offerings
Of native wheat in France, Germany and
Russia. with good prospects in Italy.
Worlds exports for the week were more
than six million bushels in excess of the
corresponding week last year. although
about a million less than in the week pre-
vious. The worlds stock is 202,6O9,ooo
bushels. against 100 900 bushels year
ago and lSj.4ol 900 two years ago. being
decrease for the week of only l.li6.cOD
bushels. against a decrease OF nearly
100000 a year ago. The domestic visible
has increased 1900 bushels. against de
crease i'm the corresponding week last
year of $1,000 The short interest in wheat
has been extended somewhat on account
OF the decline I'm corn and may prove
source of weakness ir-the future. regard
less OF tire technical situation, as prices
are now about % cents a bushel less than
they were year ago, and this is regarded
by many as dscounting many OF the bear
features OF the situation.
Continued heavy interior receipts and
falling off I'm the cash demand depressed
the corn market and prices have sagged
all the week. except for brief squirt on
Saturday, which was soon wiped out
Stocks arc said To be accommodating on
tracks i'm the West, and. with this not
counted In. the visible supply still shows
an increase for the week OF 26l9.n0
bushels and interior receipts were about
l. 5000 I'm excess OF last year. There has
been some export business. Europe buy
ING American corn, even with free offer
ings of Argentine The only Offset to the
influence OF continued large reccirts-thc
smallness of the domestic demand and
tendency 10 increase the size OF tho Ar
gentine crops the fact that corn prices
are now about Il cents bushe below the
figures OF year ago
Oats have sympathiZcd with the move
ments and conditions OF other grains, and
have declined, although prices are still
about 20 cents lower than those Of the
corresponding time year ago. The avail
able stock OF American oats has in
creased 1,2is.O0o bushels in the week
against an increase last year of only
$4,000 While oats have declined in the
week. they have not shown the same de-
gree Of depression that has affected other
grains Early I'm the week there was
steadincss. based OH buying by bis in
terests I'm Chicago ard local shorts.
Tho -four trade has not shown new
features OF interest Dealers have held
,t,,F rar,i,, tbrouOh hoinfr nrctty u.plt
stocked up, but also on account of the
decline I'm wheat. Prices at the North
western milling centres are somewhat ir
regular. sales in some cases having been
made at concessions. The production at
Minneapolis, Duluth and Milwaukee for
the week was 1850 barrels against
367 SO "A week ago and 3lSllj a year ago
There was little to attract attention In
the cotton market. trading having been
only moderately active. with prices show
ing slight gains early In the week. These
gains were the result OF a strong. but
futile, bull effort. and reached about 81
bale This was all wiped out by a wave
of selling on Thursday. which was added
to on Friday, when the market became
nervous and unsettled. On Saturday the
nervousness became more apparent and
a sharp break carried futures down TO the
lowest level OF the week In the late trad
Ing. This drop was not entirely uneX-
pccted, the recent advance of nearly 81 a
bale. tho elimination OF a large short In
terest and the creation OF long interest
having made many dealers feel that re-
action was due and To be expected A
combination of bearish factors. including
"A lack of confidence In the technical
foundation for the recent advance, the
business and financial disturbance caused
in Europe by the Balkan war and politi-
cal changes and steady lack of buying
RAILROAD AND OTHER
No ouotat
shares Div. | Div wk end
/