New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-07
CROP MARKET REVIEW
Grains and Cotton Increase IN
PriCe-Coffee Declines.

considerable of the trading. There was a
squeeze in the March option in Liverpool
which helped the home market The lat
ter part of the week showed the most
strength, based mainly on foreign condl-
tons. with foreign traders more appre-
honsive regarding future supplies and
buying late positions as safeguard
against shortage.
The Russian situation is regarded as
being at the bottom of the foreign senti-
ment, as there is little probability of any
thing more than moderate shipments from
that country for the rest Of the season.
and there are complaints regarding the
quality of the crop. The small acreage
I'm the Balkan states, due TO the war, mas
also been regarded as a bullish factor 80
Tar the absorbing demand from Europe
has been heavy, and American clearances
show that export sales were much larger
than have been reported
The domestic situation gives good
ground for optimistic views, average esti-
mates of acreage showing likely yield
Of 100000 bushels. a gain of about 100
10000, most of which will be in the soft
winter wheat states. which showed the
heaviest loss u year ago. That there VIII
be some deterioration Is TO be expected,
but so far the indications point 10 loss
of not more than 100000 acres. against
an abandonment last year of 6i69,olo
acres.
The advance in corn was largely due
20 the influence of wheat although in
terror markets have been frmer, owing
10 lack OF sellins pressure and firm
ness in the cash position. with rather
light crop movements. Short sellers have
been anxious, and cash prices have
reached a stage where business. especi-
ally for export, has been restricted.
Cash oats have been very firm. and
this has reacted on futures, causing
shorts TO cover, and the strength in other
grains has materially helped the market
There has been a pretty good demand
for cash oats. and Chicago elevator men
have been good buyers for storage pur-
poses. Stocks there are 4.7j5,co0 bushels.
against 6Ol9 600 bushels a year ago.
Flour has been i'm only light demand
business has shown little snap and Min
neapols mills report that production has
exceeded the demand. Buyers continue ON
n hand-to-mouth policy. and the market Is
I'm Il rut, with no apparent way out Ihe
production last week at the three princi-
pal Northwestern centres was S56,
barrels against S52.7G0 barrels a week
ago and 3S1.700 barrels last year.
Trading i'm cotton futures has not been
large. but easier money conditions abroad.
n better trade demand from spinncrs, wet
weather here and fears Of floods have con-
trbuted to an advance. aided 10y hrmness
jn March options. March sold AT a pre-
mium of 90 points on the last day OF their
life owing to the neglect of Wall street
interests to cover their contracts until the
last moment. and lately there has been
considerable selling Of May.
The supply and demand figures are
causing considerable discussion the bone
Of contention being the amount of the
c;.rry-ovcr. which is calculated in Cotton
and Finance as being probably 10000
bales on the present basis of business,
and even with a revival of business IN
goods which would warrant spinners tax
Ing the same amount from March y TO
the cnd OF the season as they took last
year. the carry-ovcr ON September !
would still be 1.374G50 bales. The outlook
Tor a good and carly start for the new
crop is uncertain. depending mainly on
whether or not the Mississippi levees Will
hold against the floods pouring against
them.
Coffee prices have saggcd steadily and
consistently during the week. and only
the active buying Of one compassion
house saved them from going to a lower
level I'm the late trading. The chief de-
pressing feature Of the market has been
the utter indifference of the consuming
demand TO lower future prices. and lately
leading roasters have been credited with
supplying what little demand there is at
concessions from current spot quotations
There is an apparent anticipation OF
heavy liquidation of May holdings and
switching from near TO distant months,
Tut with Brazilian markets as we'll as
Continental showing weakness. or at least
lack of strength. and crop prospects i'm
Brazil very favorable. there seems TO he
no reason TO look for a permanent ad-
vance in prices. as supplies for the sea-
son are regarded as more than ample and
there is liberal crop in sight.
In country produce the bulge in the
prices of butter and eggs caused by the
floods has gone down under increasing
supplies and a restoration of transit IA
cilities. although live fowls still continue
scarce and abnormally high. The same
cause has tended 10 affect the market FOR
Southern vegetables, much of The stock
arriving in poor condition and showing
the effects Of too much water. with a
corresponding advance in prices for good
stock wherever the trade would stand for
IT, II is not expected that this condition
Of affairs will be more than temporary,
and the present high rates should not be
taken as a standard The main lines Of
country produce and small fruits have
shown some reductions.
Dressed meats have advanced, and beef
cattle and calves have also gone up in
price. This advance appears 70 be the
logical result Of supply and demand the
latter running ahead Of the former, al
though shipments to this market have
been checked by flood conditions affecting
railroads.
The general trend Of commodity prices
for the week has been upward. the tabu-
laton of twenty-five articles by The Trib-
une showing advances in fourteen, with
seven reductions. and only four remaining
unchanged.