New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-28
CROP MARKET REVIEW
Wheat Advanced and Cotton,
Corn and Oats Declined.

An insistent Continental demand for
American wheat. with supplies IN the
United Kingdom at low ebb, and a cor
responding expansion of the export de-
mand here were sufficient to give the
market for wheat futures firm tone
last week, and although there were occa-
sional setbacks, the trend OF prices was
upwar1. The foreign situation was
strong enough 10 overcome the bearish IN
fiuence OF crop and seeding reports far
above the average for excellence, and the
large known increase in acreage. Shorts
were at times anxious over the light sup
ply Of contract grades and the demands
OF exporters. but the good feeling In the
market, with considerable strength In the
MAY option. continued until the latest
trading. when cables were rather dlsap-
pointing from Liverpool, although Con-
t!nental advices continued bulliSh. This
caused decline Of about cent bushel
which was partially recovered just before
the close.
The opening OF lake navigation mas
started heavy movement of grain east
ward. stocks at Duluth having decreased
worlds supply of wheat diminished IN the
last week by fl9l.Oo0 bushels. against an
increase a year ago OF l,5s0,Wo and the
worlds stock OF American and European
is 1872 10000 bushels, or nearly 100000 less
than year ago. Reports from Kansas
tell Of "A probable crop of l2o,co,VV BUSH
els. against a yield OF 99O0,0D last year
and other quarters are returning hsures
almost as optimistic as these.
Corn started the week with consider
able irregularity and temporary firm
ness was checked by an increase in selling
pressure. which indicated a lot OF unload
ing OF May corn In Chicago. little Del
ter shipping demand from the East gave
a slight rally on Thursday, but on the
whole the market has been listless ana
saggy, with larger country offerings ana
reports from experts that there were large
quantities held on farms and In railroad
cribs in Kansas and Missouri IL was
noted that big Chicago interests have been
selling for the last three weeks without
making much impression on prices. The
supply available decreased last week o.
$40 goo bushels against decrease for the
same week last year OF l,s9l,OOO, and a
fair cash demand In the last trading was
Offset by prospects Of larger country Of
ferings.
oats have developed no pronounced feat
IRE in the last week. and the sluggishness
of trade has had its influence on prices.
In spite Of this the market has shown a
certain amount Of steadness, and the de-
elf
stock is more than 100000 bushels less
than It was a year ago, and No. white
oats are 22is cents cheaper than they
were a year ago at this time
Cotton Hits New Low Ground.
Al the present prices both spot ana
future cotton are cheaper here than at
any 6f the great markets of the world
and traders are at loss to know no"
long this condition is TO continue as fg-
ures are far below parity with either
LIVERPOOL or New Orleans. Slumps on
Wednesday and Friday carried future
prices into new low ground for the move
ment and Saturdays trading repeated the
nrocess early. the drop being followed by
n sharp recovery 10 a final slight net gam.
Renorts from Texas and oklahoma indi-
cate an increase OF TO 10 per cent IN
acreage.
LIVERPOOL reported that spinners were
calling for cotton, but that there was
some selling from America. Monday VIII
he first May notice day in the local
market. and there are about ls"o oaies
cartificated in stock. Under the control
OF Norfolk people are about 5000 bales
OF these. against which notices are eN-
pected. and II is asserted that Liverpool
neople are prepared 10 ship between
20 900 and 5000 bales to Liverpool or the
Continent. causing fears that there may
be a furry among dealers who are snort
on old crop months.
Coffee Gaining Slowly.
Prices OF coffee futures have alternated
between advances and declines, with the
general tendency upward. although the
snot demand has been small. and the
country is still purchasing only from
hand to mouth. This dulness In the spot
situation has had its effect on FUTURES
but there has been an underlying hrm-
ness I'm the market, which tends TO the
immersion that the trade is satisfied that
any change must be for the better, and
that a change is not far OF.
This view is supported b. the small
amount OF coffee ahoat for the United
states and the continued strength In Bra
zi where cost and freight prices are
holding their own. apparently unin-
fuenced by the fluctuations here. In the
mean time operators are not inclined to
be aggressive either way. although there
has been a gradual narrowing or differ
ences between the near and distant po-
sitions. with old crop months relatively
the steadler. May notices covering about
n 600 bales have been stopped so far.
Butter Prices Drop.
In the country produce markets the
nr,rcipal feature has been the sharp drop
OF about FIVE cents a pound In high grade
butter from the extreme OF the week.
bringing the average OF the week two
cents under that of a week ago. Cheese
and eggs have held steady. although the
supplies OF eggs have been liberal, and
the storage houses have begun 10 MI up.
Vegetables AS "A whole nave declined.
owing to increases In supplies from near
by points. Quality has not run as good