New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-12-01
THE WEEK in The
CROP MARKETS
Grains Lose an Early Gain
Cotton Prices Irregular
Coffee Declines.

ports regarding the Argentine crop by
continued heavy domestic receipts and by
the export trade. Prices made good gains
carly In the week. but in the late trading
showed a dropping tendency. although
cash No. red touched the 81 mark on
Wednesday and held it TO the close. Price
changes in futures have shown small
! fluctuations with December the strongest
and most active month.
There seems to be a general opInion
| that the market is down to a fairly sound
basis and the future course of prices
will depend largely on the outcome of the
European crops Latterly the market felt
| the pressure of heavy receipts at interior
points and increasing stocks, although
there were some heavy export sales early
| I'm the week, about $4,000 bushels being
taken on Monday in Chicago and Duluth.
| Large quantities of wheat have been fed
to farm animals IN the Southwest. some
| mixed with cottonseed meal, and i'm sup
port of the present range of prices 1t is
| argued that people of small means will
| be compelled to eat more of the wheat
| products. on account of the high cost OF
| meat eggs and other articles of food
An idea OF the Northwestern movement
| is given I'm a report which says that. be-
| fore navigation closes it is expected that
! i7O,00O,O00 bushels of grain will have left
the elevators at the head Of the lakes, and
that since the opening OF navigation about
| l45,000,000 bushels have been shipped
East from Port Arthur and Fort William.
which is 100000 bushels in excess Of
the whole of last season. At its present
price No. red is about ~ cents below
the figures Of a year ago
| Corn trading has been narrow and COM
paratively featureless, with price changes
irregular and depending mainly on weather
conditions affecting the movement Of the
| new crop. December contracts have been
| slightly higher at times, anxiety among
shorts over light stocks sending the op.
ton 10 premium over May. Later tho
| December position showed the greatest
decline. Receipts have been large i'm spite
| OF the bad weather Cash markets have
| been lower, and there have been moderate
offerings Of Argentine corn. an aggregate
| Of more than 100000 bushels having
! been received here and 500 900 bushels ar
| Galveston, with about 500. 900 bushels
| cleared from North America in the week.
Oats have shown no particular activity.
and few price changes outside of those
| caused by sympathy with other grains,
although cash prices have at times been
firm The supply is liberal amounting to
i6.655,OOo bushels; in fact is more than
double that at the corresponding date
last year. and there has been some pres
| sure Of supplies from Canada. The Ar
| gentine surplus is about 10000 bushels
| smaller than IT was last year. but that
has had no effect on this market.
With the large supplies, and compare
| lively duh trading. IT is to BE- noted that
No white are held about 10 cents a
bushel higher than they were a year ago.
Receipts for the week have not been ex-
cessive, and were nearly 10000 bushels
under the previous week, but large de-
liverles on December contracts are ex-
pected.
Guessing at the Cotton Crop.
Trading I'm cotton has been mainly
speculative. with recovery following
q decline. and a reactionary feeling de-
veloping I'm the late trading. Guesses and
estimates az TO the coming crop. about
90 per cent of which has been gathered
have taken up most Of the time Of trad
ers. and outside interest has been de-
cdedly lacking. The slump OF early in
the week was recovered when the fever
of liquidation had run its course. and
since then price changes have been COM
paratiyely small. general disposition
hal MI aGta IN In Sfgh
In trading either way.
The average crop estimate Of New York
Cotton Exchange members was li,3050co
bales. or around the same figures as the
recently published estimates by South
ern exchanges, and with the markets
pretty We'll prepared for a crop In that
neghborhood traders seem inclined 10
await fresh developments
The amount Of cotton ginned 10 De-
cember / is supposed to be a factor ~
some importance i'm determining the gov
ernments estimate of the yield. and phi
vate reports on the ginning for the last
half of November are expected early in
the week The census report on GINNING
TO December / is scheduled for publca-
ton on December S, and the govern
ment's estimate OF the crop will be pub
lished on December r.
Coffee Tending Lower.
Coffee which advanced I'm the first three
days of trading, suffered a marked -
lapse after the Thanksgiving holiday.
due Ia a change i'm the tenor of dis
patches from Brazil relative TO crop
and financial conditions. There have
been heavy receipts at primary points
and a declining cost and freight market,
with evidences that Brazilian holders
were willing to consider concessions for
the sake OF making sales. This has
caused considerable nervousness among
those who recently professed strong bull
ish conditions and while sentiment is
divided there is no sign Of aggression on
the buying side of the market.
BUYERS. however, are believed TO be In
a better position TO hold OF and await
owing to the impression
that recent large sales of cost and freight
stuff have given them supplies SUFFICIENT
for immediate requirements. Foreign
markets have also shown reacuonary
signs, partly due, IL is believed TO none
tary stringency in France.
EGGS and Butter Higher.
All the fuss about the high price Of
eggs has had no effect on the receivers
of strictly first class stock, and prices OF
the very highest grade hold their own.