New-York tribune., 1913-11-17
CROP MARKET REVIEW
Grain Prices Higher-Cotton De-
CIining-Coffee Also Lower.

Oilii'IS SViiSS INV SVVSis
There has been a general upward ten
dency in grain markets for the last week.
wheat futures having made substantial
gains and the spot market as well show
ing higher rulings. There was some ir-
regularity In the early trading. but not
enough to affect the course OF prices. The
course of the market has been affected
mostly by foreign crop conditions and
the generally accepted idea that the
United Kingdom will have to depend
largely on American wheat in the near
future. The Argentine reports serious
crop deterioration; India follows with
similar reports; Russian shipments are
falling off; the available export supply OF
Canadian wheat is said to be near its
limit, and the latest figures reduce the
Canadian crop by more than 100000
bushels. There were slight recessions at
times but they appeared to be purely
speculative and not based on any bearish
| change in the underlying conditions. At
the close the market was steady, with an
upward drift to prices.
Corn was weak early in the week. but
ness and an advance in prices before the
close. The favorable tenor Of the govern
ment report. which showed a crop So, 100000
bushels larger than had been expected
was counterbalanced by the smallness or
farm reserves. Strength late In the week
was credited partly TO a fear that the
governments revised acreage figures, due
next month, would reduce the crop lo.-
| 10000 bushels from previous estimates.
| The available stock OF American corn de-
creased last week 1.43S,0O0 bushels. against
a decrease last year at this time Of $4,000
The arrival OF two cargoes OF Argentine
corn during the week had no effect on the
cash situation. although the 81 600 bushels
they brought in raised the aggregate OF
imports to more than 100000 bushels.
Oats have sympathized with the other
grains, displaying no individual features.
and the trend has been upward. even
against free arrivals of supplies from
| Canada. The contract stock In Chicago
now amounts to 6,6sl, 900 bushels, against
| Il, 900 a year ago, while the available sup
ply in this country is 45,6O5,Ooo bushels.
against 19. 900 a year ago.
Cotton Partly Receivers.
There was pronounced recovery in the
cotton market early last week from the
slump of the previous week, but there was
considerable irregularity until Friday.
when the recovery from Mondays low
level aggregated so to 81 points. with
slight reaction just before the close, which
was followed by a decline on Saturday OF
few points on the general list and 23
points on the November option. II was
noted on Saturday that Liverpool had
failed TO take advantage Of Fridays bulge
TO increase hedge selling. but that offer
| ings had been absorbed by purchases
against spinners fixing prices AS for
consumptive demand compared with crop
prospects, believers in high prices still
hold that the worlds demand will be 70:
| .O00. 900 more bales than the estimatef
crop Of 13,S00,O00 bales. The New York
revision committee is to meet on Novem-
ber 49, and some increase in the discounts
on low grades seems 10 be expected.
The next ginning report will appear on
November 9l, and as the weather has
been good some larger figures are eX-
pected Reviews Of the domestic goods
trade indicated fair demand for prompt
shipment at firm prices. but it is said that
mills are not getting a great deal OF for
ward business and are ready TO stimulate
IL by slight concessions. According to re-
ports from Fall River, It is only in ex-
ceptlonal instances that mills have as
much as a three months supply of raw
material, and such reports would seem in
line with the last census figures, giving
mills stocks OF only little over million
bales on October 81. against Consumption
in October Of $4,000 bales.