The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-17
THE GRAIN MARKETS.
wheat strength Not Maintained
weather Dcprc.scs Corn

Statements TO the effect that the wheat
market is not rejecting the items OF an
ordinarily bullish kind were in evidence
yesterday. Quotations were laboriously
lifted during the early trading, but re-
acted easily in the late session. There
developed liquidation for traders in the
professional group. who were not inclined
to minimize the Importance OF satisfied
speculative demand and a comparatively
light short interest.
Not all OF the markets factors war
ranted support. but 1t was evident that
events such as moro startling war des-
patches instead of peace utterances. re-
ports of large export sales, heavy clear
ances and Il firm cash position. despite
ostensibly burdensome wheat stocks, were
devoid of striking effect.
The market really gave way after au-
thorities had freely circulated the report
that foreigners took 100000 bushels or
wheat yesterday. There were actual
cearances Of 1900 900 bushels. which did
not serve to induce noteworthy demand.
Talk OF decreased country offerings is
persistent, but this is incompatible with
tho farm movement.
Receipts aggregated 1000. 900 bushels,
against $4,000 a week ago and 1900
900 the corresponding day last season.
In order to preserve values at this
stage the theory Is that farm offerings
should diminish in proportion to tho
slackened speculative trading. Whether
there will be n big European inquiry is
nooted question. In view OF previous
heavy absorption and the proximity of
the Argentine shipping season.
Private estimates were current yester-
day at Liverpool that a near record out
turn Of 192.00O.000 bushels was to be
| gathered in Argentina. This estimate was
| regarded as excessive. the trade count
/ ing on about 100 900 900 bushels. against
| ia, 100000 in 1918 such a crop might
lrt,s. a IA lon .t..t.
! less than 100000 for the year now end
( ing. The Liverpool market was not af-
/ fected by the eXtrava giant Argentine crop
/ figures published there yesterday
An Unexpectedly heavy gain OF $685.
| 600 bushels In the domestic wheat visible
stocks depressed sentiment somewhat.
/ The visible now sums 10 10. 426 900
bushels, against 6o,00O,0O0 in the previous
season. Very few authorities believe that
| the maximum has been reached. In 1894.
| when the visible supply reached 50, 900, 900
! bushels wheat sold at about 40 cents. but
obviously the present situation is vastly
| deterrent. the supply and demand both be-
| ing in unparalleled quantities.
CoRH.-The trend OF prices was en-
| 'iroly downward Clear and cold weather
! through the belt makes conditions condu-
Give TO larger farm movement The trade
! was wiling 10 discount this probable fea-
1 'ure. Support in the market was ineffec-
; i've HINllphEl - tilNlf buNAUG was " "
! NOTED on the gossip of export business at
/ he decline. The visible is likely 10 show
| an increase In the near future There
/ was a decrease of 1o7.o 600 bushels for the
! ulSf We X.
! OATS Sentiment IN this commodity
! was again sWa"ed by tho action OF corn.
TIE outside demand has shown an unm's-
Itakah.e dmirution and cash inquiry
| from homo and foreign points is none too
/ good. Reduced receipts o. late led to a
visible supply decrease az 95o,ooo bushels
/ for the week
Provisions -- Buying for packers pre-
! vented downturn ~ importance. The
reo0eninC Of the Chicago stock Yards was
| welcomed. hut hog receipts were lighter
| than estimated ana further developments
| were being awaited.
Chicago prices