New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-20
CROP MARKET REVIEW
Upward Tendency of Grain
PriCeS-CottOn Breaks.

wheat was OF little consequence III N'
last week. there was a general upward
tendency until the market Of Saturday
showed a marked droop. following an
early advance. The market as whole
was irregular stories OF large export sales
stffening prices. based on the assumption
that about three quarters OF the Ameri-
can exportable surplus had already been
disposed Of ON saturday export bi9s
were out Of line, and no new business was
reported. but Fridays business was recN-
oned al dfty-two loads ca load 5000 bush-
, eis) at all positions.
The decline OF Saturday carried prices
about two cents a bushe below the recent
! high level. and 1t is now the general ldea
| that prices are very near rock bottom.
| Il is also believed that primary receipts
are no longer likely to be burdensone'
winter wheat farmers having marketed
practically all their surplus Reports Oh
strength i'm Argentina early IN the Wteh
were robbed of their force by the late lot
clGn dispatches. saying that Arsentiha was
Offering wheat freely abroad, but foreign
| bulls are confident that Europe VIII ap-
sorb. within the next thirty weeks, all the
available surplus of exporting countries
less than half of the estimated require
ments ~ 100000. oo0 bushels having been
shipped 50 far
Receipts at Interior points for the week
were 66l6,Uo bushels, against 6'@s'"' IaS'
week and 27g7.0co Il year ago. WITH intei'oi
! shipments of 2.5qS 90 bushels against
&.lll.sJ last week and l.lSsoO year ago
/ " orld's shipments for the week were
! 16g60nl bushels which is much behlhn
I the estimated minimum weekly require
mcnts Of Europe $4,000 bushels.
| corn made "a new high record for the
movement ON THURSDAY. but since then
/ has sagged steadily. la general, however
/ exporters and big elevator concerns nave
| been good buyers. exporters having taken
! auywhcrc from ten to thirty loads
/ dav. The domestic cash trade has been
/ quiet offerings from the country be
| came more free a. the week progressed
| and the drop late iu the week wa cred
! tied To large primary receipts and predlc-
tious Of a heavy movement as soon as
| cars became available Export sales late
I on Friday amounted 10 ffty-nine loads.
and ON Saturday the export demand was
! less active The contract stock Of corn
/ i'm Chicago is only 1900 bushels. against
| S4occo n year ago. World shipments for
| the week were 3655 D" bushels. against
/ 6e3.crp the week previous and 2Iio."" a
/ year ago.
oats have done little beyond keeping
pace with the other grains although the
B response 20 lie upward movement mas
not been hearty There have been small
IulrcS in pric. which have brought out
70 lot of long selling. and the quotations
/ have kept Within narrow limits OF
J change Worlds shipments were a.'5-.-
: 600 bushels. against 3.32eo week
ago and ego 600 year ago.
/ business In cotton futures has been
/ large. but prices have suffered. and the
end o. the week found The market 30
weak that outside business after tho
clos. ON Saturday was at reduction
. from the official figures \ great part
OF tie selling came from Wall street
/ traders who month ago were builins
I cotton from 1919 cents 10 - cents. ON
1d,i,cs from bis spot interests which
wer. talking 8 cents Dos Fehruarv and
: 10 cents by March . Tina, some Of
I these operators have been hit severely
/ los the declines of the last TWO weeks -
4 evident. for with cotton bought AZ D."
cents selling below the l2-cent level
when according 10 tho.r calculations %
! should have been Ii cents. a loss OF 90
points or g q bale. is easily figured out
The failure of desperate efforts 10 keep
the price above l3 cents caused manIp-
: ulatiou OF January contracts early TINS
month. bat these mauipulatiOns "cr" set
/ al uaughj log the supreme courts de'i-
/ sion Oh the corner Of August. 1910. ana
I since then there has been scrambl" on
. th. part OF the former bulls To get out
/ with as little loss 40 possible. Th's
/ scramble became so intense that cover
/ ing los a heavy short interest on Thurs
{ day. by outside traders as well a. the
! New York contingent. was the only thing
/ that saved the market from disaster, ms
buying giving the market about all the
/ support II received Bulls however stu
/ contend that there must he q considerable"
break I'm the Southern spot markets he
! fore a bcanSh position can be pcrma
/ ncntlv maintained. and point 10 the fact
/ that the Southern spot markets ar" not
/ ~ all free about responding 10 the breaks
/ in quotations for futures
The dulness In the coffee market prior
I 10 the announcement of the valorIzation
committee that the stock held here had
I been sold To a wide circl" ~ buyers seems
! 10 have continued and while there was
! legs selling pressure ia the late uading
! OF the week the tone was still Unsettled,
! although II was the general opinion that
/ future developments would be along more
/ normal lines The technical position was
| believed 10 be firm at the end or the
! week and tho market showed sight
! gain over Fridays figures but small
| transactions either way affected prices
and IN, whole market was narrow.
Some inquiry for spot coffee gave In,
/ impresslon that spot buyers would now
have little reason FOR holding on except
| for the fact that the valorizauon sales
! have replenished many rnJ down sup
plies only about $4,000" bags have h"en
withdrawn FOR consumption In Europe
! and the United states ia the last SIX
| months and well informed authorities
! look FOR more liberal Withdrawals during
the balance Of the crop year as ms
amount is much less than the actual CON
sumption. The growing crop in Brazil ~
! reported TO be- about the same size as that
now marketing.
The country produce markets suffered
some sotbacks In the week. many Of IN"
roccipts Of small vegetables running so
h,