New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-13
CROP MARKET REVIEW
Grains Generally Weak-Cotton
LOWer-C0ffee ADVANCING.

LOWer-COITee Advancing.
Both at the beginning and end Of the
week wheat was weak. low and declin-
ing. with a rally between times. Selling
was mainly due to continued abundant
receipts at spring wheat points. although
the movement from the winter wheat dis.
tricts was comparatively small At the
same time there was a tendency to in.
crease crop estimates.
There was falling off in receipts late
In the week. due. It was asserted. to the
fact that well-to-do farmers are not sat-
isfied with current prices, the previous
heavy movement being credited to the
need by many farmers for cash, which
they obtained by sending their surplus
to market. There has been an increase
In the worlds available supply OF 100000
bushels. against an increase OF lo,s2s,OOo
year ago. 8.36i.000 Of this years increase
being In Canada
Export demand has been fairly brisk.
the larger part being OF Manitoba wheat,
with some hard winter called for. Deal
ers are inclined to the belief that tariff
changes will not affect the market great
ly as far as Canadian wheat Is con-
cerned, holding that the export demand
will have used up all the surplus before
the countervailing duty can be removed
At the same time there is talk to the
effect that Russian, Indian and even
Chinese wheat will be sent to the PACT
f1c Coast markets and that Argentina
Will remove its duty and so have
chance at the American markets. Against
this. however, Is the knowledge that
England is not at present getting its full
supply. France is buying foreign wheat
and supplies Of native German wheat afa
short
Corn began the week with an unsettled
market. and with slight fluctuations closed
at decline. There were occasional re!
coveries, but they were shortlived, and
the general tendency has been downward
Operators have been at sea In most cases.
speculation has been slow. the cash dst
mand small. and with heavy liquidation
margin calls have weeded out much d
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The government report was regarde6~aa
builish on corn. and a temporary advanos
carried wheat and oats UP with It, but
the gain could not be held In later trad4
ing. Argentine corn. Of which so much
was expected, has turned out SO far to hd
slightly warm and musty, but as It waa
bought on rye FERNS" and an allowance
will be made for deterioration 1t could
not be rejected. The shipment, however,
checked an advance In this market
Reports that Canada had a large sur
plus Of oats tended to weaken the local
market, although the government report
was credited with some influence in that
direction. The market is unsettled and
easily influenced by price changes in Other
grains Tho French crop will be about
100000 bushels larger than last year
Cotton Prices Lower.
There has been sharp reactionary
movement in the cotton market during
the week. and prices have dropped nearly
IS bale for some deliveries. This is only
partial recession, however, as there was
heavy overbuying when contract prices
were forced up TO the II cent mark just
before the government crop report Of Oc-
tober 1.-The advance then showed q gain
Of about 800 points, or SIS bale, from
the low figures OF late last July. How
much lower the reaction will go depends
largely on tho weather for the remainder
OF the growing season and upon what
dgure will tempt foreign spinners to come
into the market for the actual cotton of
hv ylIa mr. nd Factors In M rLxa
Ing the first half of the crop.
There is no doubt that both England
and the Continent would like TO see an
other decline OF So to S. q bale here, In
order to accumulate supplies for later re-
quirements. In this connection there ID
an apparent tendency here TO increase the
short interest. and both the South. Wall
Street and uptown" interests have cons
tributed to the selling
The threatened lockout In the Lanca~
shire district is regarded as more mat
ter Of labor politics than an unfayorabld
trade situation and is not considered q
serious development It was noted thai
after the local close on Saturday New
Orleans sold of about points, and al
the markets will not open again until
Tuesday that was taken TO indicate fur
Their weakness, and confirmed runors that
spot holders in the southeastern portion
Of the belt were offering their cotton
more freely.
It IS moro than likely that weather CONF
ditions will dominate the market until
the crop season is finished, and scarce
may be looked for on the FIRST sign Of
frost.
Coffee's Sharp Advance
Shorts in the coffee trade have had
their share Of troubles In the last week.
and the market has been strong and ads
vancing, except in occasional instances,
with new high levels reached and the olosa
Of trading showing gain for the week
Of about 1875 points. or practically cent
and quarter pound.
An idea Of the activity OF the market
may be gained from the fact that sales on
Saturday. short day, were $1,000 bags.
There has been some heavy selling BY
roasting concerns, but not enough to
check the advance caused by undenied
stories of severe damage to the Towering
crop In Brazil and reports that planters
and commissarios in Santos were buyers
In this market All the foreign markets
have shown substantial advances for the
week, and New York operators in Europe
are credited with some heavy dealings in
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