New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-20
COURSE OF WEEK
IN COMMODITIES
Heavy Break in Corn
Other Grains FolIOW-COt-
ton and Coffee Lower.

heavy trading and some violent fluctua
lions, have been the feature Of trading in
grain for the week just ended, and the
bottom dropped out of the May position
In the last hour Of business, the close on
Saturday showing that premium of 9sc
for May over July week ago had been
changed 10 a discount Of sc under the
midsummer option.
The week as a whole showed declines Of
from csc to 4asc a bushel. This drop is
credited mainly 10 the pressure of sup
plies from tho Argentine it being stated
that between 100000 and 100000 bushels
have been bought there by the United
States for April to July shipment, with
offers I'm this market at 62iic for all posi-
tons, and offers in Oklahoma at several
cents under prices OF domestic corn.
The weakness due to this cause was
increased by ;he fact that the American
visible decreased only about one-half the
amount of decrease for the same week
last year, while the stock was 100000
bushels larger than year ago and nearly
100000 bushels larger than two years
ago. TIE beginning of trading in old and
new contracts for July. September and
December delivery in Chicago added to
the confusion, and there was some de-
moralZation shown at times
There is little prospect for any advance
in prices as long as the rush Of Argentine
corn continues. and this. in turn. may
affect the cattle trade, as with corn 50
low il will be advantageous to feed II TO
farm animals, with more profit I'm pork
than I'm the grain.
Wheat was irregular early in the week
owing to some uncertainty as TO the en-
tent OF the short interest in May con-
tracts. the premium on which widened
considerably There was an attempt by
Northwestern farmers 10 get prices high
or by restricting deliveries, and a small
scare over the appearance Of green bugs
in the new fields helped check a scale
down, aided by some export orders and
a decrease in the worlds available sup
ply. Late I'm the week. however, there
was a slump In May contracts. the short
interest having been eliminated and a
good many holders having weakened.
While the market vas weak at the close
~
elements OF strength. The worlds supply
is about 100000 bushels smaller than II
was last year AZ this time; a revised OF
fetal report places the Argentine crop at
1l4OOO10 against last years crop Of 1856
4c0 90 bushels: lighter offers from Canada
and Australia have strengthened the for
eign markets, and exporters are not anX-
ious that the amount OF their business
shall be known Weather conditions will
have a large influence on prices for some
time, as the growing crop IS far from
being past the danger period, and real
scare is still possibility. II is regarded
as practically sure that there will be
large buying on any material price con-
cessions. especially when the new crop
begins 10 be- offered. and large shipments
10 foreign consuming countries are likely
as soon as navigation IS fully reopened
in Russia and on the Danube.
oats. as usual. have done little more
than reflect the movement of the other
grains, with the general tendency toward
lower level of prices, although heavy
buying by shorts has made for steadiness
and in n measure checked the scale down.
With weather conditions favorable for
seeding. and the work well advanced in
some districts. the prospects are good,
and al the same time the total supply
available is 100000 bushels larger than
It was last year at this time, although
the decrease last week was 2,Sj70i0 BUSH
els Cash markets in all grains have
been easy and declining.
Flour has held quiet and without change
Of Importance In price. Buyers have con-
tinued their hand-to-mouth policy and
purchased only when and as much as
they had 10. Under all the conditions It
does not seem that any material or per-
manent advance in prices is likely in the
immediate future.
Irrao,I,-;4y - Ho.4..