The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-12
GRAIN MARKETS.
Heavy wheat Export sales Discred-
ited--Pescc Talk Affects List.

| The break in wheat Yesterday was the
sharpest OF many sessions Its effect was
| rendered the moro poignant because of
the early display OF strength which repre-
scented only meagre response to the
| sensational export advices current Con-
| sentative authorities were convinced that
| estimates OF 5000, 900 bushels for the for
eign takings OF Monday and Tuesday
were more than 1900 900 bushels too high.
Liquidation Of wheat by speculative
holders was on larger scale. and some
stop loss orders were reached. The des-
patch that Germany was seeking peace
with Russia WAS prominently published
and noted. but 1t was not until the after
noon that the Item was seized upon as
an explanation or preteAt for the decline
There were other reasons for the set
back which wero more closely asscoia ed
with the markets action. Powerful West
ern elevator concerns stlll appear out OF
sympathy with any upturn and are fire.
quently mentioned on the selling side. The
receipts have shown no drastic reduction
and hedge pressure easily offsets in weight
and effect the fresh speculative support.
Proximity Of tender day for December
Is not being lost sight Of. and tho lack
of short interest has often been alluded to.
Those who discredit the claims Of enor-
nous export sales at the Gulf since Mon
day show that the Kansas City market
has declined 21i cents In the interim.
Chicago has suffered tho Identical recess
sion. The Northwestern markets have been
less heavy. especially yesterday, when
curtsiled country selling and spreading
operations brought about an early rise OF
a cent.
Absorption by export houses on thu
weak spots yesterday afternoon aided in
rallying the market moderately. After
the close the days transactions with Eu-
ropeans were figured at more than l.jOO,-
600 bushels. There was also scattered
commission house buying on the resc-
ton for somo interests who entertain no
reason to modify their huiish views on
the supply and demand situation.
The latest Argentine news suggests an
average wh-ot yield. There are q few
complaints OF excessive moisture. Sew
eral weelos remain, however, for possible
deterioration and about eight weeks DO
fore the Argentine will ship wheat The
Liverpool market was again quiet and at
tho moment lacks tendency, although
cash wheat there Is well held.
CoRN.-Tho basis was lowered in SYM
patty with the wheat decline, but on the
whole bulls were not complaining. Coun-
try offerings were assimilated with less
difficulty. There were prospects OF
unfavorable weather. rains being fore
casted. Export demand was again in evil
dence. safes amounting to moro than 2o0.-
900 bushels Thy opinions OF the trade
seem quite confused.
OATs.--An early rise was on the
port sales OF 900. 900 bushels and with
other ntlrlSets. Lighter receipts helped.
Prices receded subsequently. due TO the
break in the wheat. but the close was
very steady
PRovIsioNs--A firrner tone was exhic-
tied, Packers were the principal buyers.
Cash demand was improved and no sne-
cial selling greeted reports of large hog
receipts next week when yards reopen.
Chicacn nrIreH.