New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-19
COURSE OF WEEK
IN COMMODITIES
Wheat Steadily Advancing
Corn, Oats and Coffee
Recovering Declines.

With only one slight check there
has been a steady advance in the price
of wheat in the week just ended, and
at the close No. 2 red was Il cents
above the final figures Of month ago,
with the market strong. This change
in conditions has been brought about
by renewal Of the European scare as
TO future supplies. and figures showing
that all the exporting countries except
the United States are practically with
out a surplus available for that de-
mand. The Canadian supply is far short
of last year. the Argentine is below
last years figures and it is evident
that importing countries must look to
the United States for supplies needed
above their production. For these rea-
sons the advance must be ascribed 10
legitimate causes rather than specuia-
tive, especially with the increase in
the worlds visible more than million
bushels less than it was a year ago
and the worlds stock 175,300,000 bush
els. against 176, 100000 year ago. Re-
ports from the great wheat states OF
this country indicate that growers are
preparing for d still more extensive
call OH next years crop, an increase OF
about 100000 acres in seeding having
been figured out by one authority. En-
port sales in the last few days have
amounted to about 100000 bushels,
Italy having been heavy buyer 81
durum wheat at Duluth. SO far this sea-
son exports have run close TO 7,OOO,OOO
bushels a week, and even at the dd-
vancing prices it is likely that al the
available stock in this country Will pc
called for before the next crop is avail
able.
While corn has advanced, the gain
has been due in part to the influence
of wheat. and on the whole fluctuations
have been limited and speculative In
terest narrow, sales OF new corn %
arrive being so small as TO excite COM
ment. One reason for this has oeen
liberal offerings of corn from the Ar
gentine at relatively low prices. BUY
ers for consumptive purposes nave
been reckoning Oh reduction IN prices
as soon as the new crop begins to ar
rive in quantity, but at present the
available supply of American corn IS
only 6,036,0 bushels, against $780,
600 at this time last year. This is eX-
planned by the statement that farmers
are holding back their supplies III the
hope of getting higher prices. The
close of the week showed No. mixed
Az cents below the figures of month
ago and 4}l cents above the price a
year ago.
There has been heavv export bust
ness in oats, France taking 100000
bushels early in the week, and with
country offerings small, there was an
advance in the late trading following
an early decline. One house in Chi
cago was credited with having sold
100000 bushels for export, mainly
by way of Canada, but as there is "a
general belief that the export trade
has been larger than is made public,
it seems that secrecy is a part of ex-
port transactions. Late trading
showed advances in prices, but at the
close No. white, at 5l1a cents, was
. cents below the figures Of a month
ago and cents above last years
price.
The Cotton Situation.
Members Of the local cotton ex-
change are still anxously awaiting
some information which will give them
line on the possibility of reopening
the exchange, but developments are
regarded as favorable. The putting
into operation of the proposed $780,
100000 pool for taking care of the crop
will, it is believed, clarity the situa
ton, but the working out of the details
is matter Of considerable time. The
"buy-a-bale" movement, as a measure
of relief, has lost its force, especially
since the spot markets in the South
have been marked by a continued de-
cline in prices. thereby widening the
difference between the market price