The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-08
THE GRAIN MARKET.
wheat Prices climb Higher IN I'M
proved Export outlook.

Wheat bulls were encouraged to work
for higher prices yesterday on more
favorable export outlook and tho market
made net gains for the day OF "a to lac
with September leading I'm the advance.
The fact that the Guaranty Trust Com
pany had announced that IL would pur-
chase documentary bills on London COW
rriug grain shipments combined with the
report from London that with the banks
again opened the foreign exchange situa-
ton would he clarified helped materially
to increase bullish enthusiasm. Heavy
carrying charges which holders have to
bear In the absence of export facilities ia
the black cloud on the trading horizon
Another steamer was forced to put
back to this port. The Kansas city, carry
ing 479,4S0 bushels OF wheat, which
cleared late Wednesday. returned late
Thursday. The market was weak In the
early trading on profit taking based on
export news steadied prices and commits
sion houses bought on the breaisa Wall
Street concerns were In the market With
good buying orders
II was pointed out that n ehe German
feet is vanquished tho wheat bulls will
be IN practical control OF tho situation a.
II will mean that a lane will be kept open
from here to tho United Kingdom and
to the Continent for tho shipment Of
wheat. Minneapolis wheat stocks decreased
500. 900 bushels for the week and Duluth
wheat stocks decreased 5000 bushels for
Ave days. Northwestern markets were
strong. Crop conditions in tho Northwest
were practically unchanged from last
week and harvesting is progressing At a
normal rate.
The Government crop report issued at
the close OF trading was bearish on
winter wheat and bullish on spring wheat.
u gave crop OF 236,000.O0o bushels OF
spring wheat and a condition OF as 5
against an indicated crop on July Il OF
PA, 100000 bushels and a condition OF
9l.2. The report gave winter wheat as
cas-, 600. 900 bushels against 653. 900, 900
bushels at the earlier date. Earlier gains
were more than &c, but the market eased
of on realizing sales.
Corn closed strong with gains of more
than lc. In all positions. Lack of rains
In the belt and the expectation of a bull
lish Government report accomplished the
/ advance. Cash demand was active.
Prices were lower earlier on forccasted
showers in the belt, which brought out
large offerings, but these were readily
absorbed. Commission houses were buy
ers. The Government report justified bull
lish expectations. II indicated a crop OF
2,S3i;000. 600 bushels against previous
estimate OF 2,ol 900. 900 bushels and gave
a condition OF tS against an earlier
figure of S5.S.
Oats was the most active pit through
out the day and prices at the close were
slightly more than cent higher. one
half cent off from tho top. Both specu-
lators and shorts were buyers. The Ca
madam Government ordered the grain
commissioner at Winnipeg TO ship 70O.-
600. 900 bushels OF oats from Fort VIII.
lam to Kingston, but the trade was OF the
opinion that II would be necessary &C
buy the supplies In the American market
| The North American Grain Export As
ISOLATION will meet at the New Yorl
Produce Exchange at II o'clock Monday
morning to act upon open grain contracts
/ with Europe:
Chicago prices.