New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
CROP MARKET REVIEW
Grain and Coffee Show Gains
Cotton Declines Sharply.

GrdIll anu COIIee SNOW 0dlIlS-
Cotton Declines Sharply.
There were signs of weakness in the
early trading in wheat last week. and
trade was almost at a standstill. The
annual crop scare came 10 the rescue
however. and late dealings We're ON a
flrmer market and at advancing prices
Kansas came in with complaints of dry
weather chinch bugs and Hessian flies.
and OH Saturday Missouri added her
share to the complaint list. Naturally
bulls took advantage of the scared shorts
and boosted prices, a cent a bushel being
Saturdays advance on new crop options,
the idea being that favorable crop pros
poets had been discounted and that any
change must favor the bull side At the
same time conditions over the West.
aside from Kansas and Missouri were
as favorable as at any time this season,
and seeding in the spring wheat states is
going ahead as rapidly as heretofore.
Foreign advices are practically all good.
although the condition of the present crop
calls for a large amount of American
wheat, and export sales have been Of good
volume, although at times overestimated.
Last week North America shipped 1896 C0J
bushels against 3o0S.OOo bushels the pre-
vious week. and 2,30SOoo the same week
last year
Corn, also. declined early in the week.
but recovered and closed ar a substantial
gain due partly to increased buying based
on DELAYED farm work. smaller offerings
and purchases Of May by elevator inter
ests in Chicago The grain fleet, accord
Ing 10 Chicago adyices. has cleared FOR
! Buffalo and other Eastern lake ports.
taking 10000 bushels with the stock at
Chicago 9l32, 900 bushels. against S.l2i,oCo
, the same week last year.
oats kept IN line with the other
grains. being easy IN the early trading
and firming up when wheat and corn
began to advance. The market has not
been particularly interesting. although
some heavy shorts have covered and ele-
vator interests have sold. The cash de-
mand has been moderate, and the wealth
or has held favorable for sowing. Last
prices were at the high of the week
Cotton trading was only moderately ac-
tive the first Of the week. with prices
showing a trend upward, due mainly 10
rumors of a bull deal in the May option.
Liverpool people were credited with buy
ing May and intending to accent delivery
on the contracts up TO 5000 or 10000 bales.
which they would ship for delivery on
short obligations. closing straddles at
proft These reports scared shorts. there
l,.o .o1inNNfnp the carry
over of last Saturdays slump and the
May option went up 10 close TO the LEVEL
at which the break came week ago.
This gain was practically held until FRI
day, when the dumping of a long line OF
october contracts by a commission house
was followed by a withdrawal OF the sup
port which had kept May and July up.
This upset the market. and a slump fol-
lowed which sent prices down with a
rush. and the close was at near TO the
lowest for the season for near month
options ON Saturday the bearish feeling
was still dominant. and May broke 10
figure l37 points below the seasons high,
touching ll63 at the bottom. This was
credited To fears of heavy tenders of May
on the first notice day, talk of freer
Southern spot offerings. and favorable
weather and crop prospects. Liverpool
advices say that large interests are in
clined TO take up May cotton on con-
tracts there. and local bears claim that
the Liverpool straddle interest supposed
" short Of May-June there and long Of
MAY here. has been caught in what may
turn out TO be a squeeze This Will
probably keep the trade busy guessing
until Monday. April IS, which IS the first
notice day for May contracts. as the pos
,ibilities cover either a violent recovery
OF the sending of May to a carrying
charge under July.
Coffee has been Grmer and has shown
slight but steady gains nearly every day.
The spot situation is still the disturbing
feature, and there seems 10 be no doubt
now that the country is being supplied
with coffee on basis of about 10 points
over the May quotation. or considerably
below the prevailing spot figures. This
method of disposing Of spot stock against;
which future sales have been made is be-
lieved 10 be less likely TO depress the
market here than deliveries on contract,
and has been adopted to save the situa-
ton If that be possible. AS "A whole, the
market is narrow and unsettled, with
opinions divided and little desire to take
risks ON either side, although the general
tendency has been upward on futures,
with spot prices down shade.
Supplies Of country produce have with
few executions been ample. and prices
have shown declining tendency, al
though really fine stun has had a steady
outlet al TOD prices. Butter. cheese. eggs,
v.yetables and small fruits have shown
comnaratively small changes, based main
Il. on supplies and consumptive demands.
THE declines of one day have been over
o., mo by advances the next and vice
versa. the general tenor Of the various
,,arkets being about steady
Eoef cattle scored the only net advance
=, ,he livestock markets. and that was
nnl,, 10 cents hundredweight. calves.
I'm and hogs showing slight reductions
fIt,.assod meats also declined slightly ex-
,,t mutton which gained 1at cents dur
80 ,ba week Western lard and barrelled
',' esrly repeated the advances of week
pcn showing substantial gains. with the
markets firm.
T,be average of spot wholesale prices
&, The New York market for the week il
a'.rrent consumption calculated Ov The
Tribune showing gains In nine. declines
Ia the same number. with seven remain
nc nj the figures of week ago