The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-08
THE GRAIN MARKETS.
Heavy Foreign Absorption Fails to
Hold Wheat-Conrse Grain wenL.

After responding reluctantly to news
that warranted quite a bulish interpreta-
ton wheat values settled back to below
the finals of lAct week Foreign tal<inys
OF 100000 bushels, clearance OF $780,
600 bushels-the largest days shipments
in year's---'a decrease OF 1.7l2,000 BUSH
sls In the American visible and a loss of
1.l51,O00 in tho Canadian in conjunc-
ton with a strong Liverpool market fiiled
TO sustain the list.
Furthermore there were private atvices
OF rains retarding harvest in Argentina.
True. the National City Bank hud a cable
stating that officials reiterated their prcvi-
Gus estimate OF 1875. 1000. 900 bushels for
the Argentine exportable surplus. but this
forecast is contingent upon four weeks OF
favorable weather.
Shipments from South America are
going To be difficult OF completion on ac-
count Of the tonnage situation. There arc
authorities gravely concerned over tho
possibility OF damaging aggrcssveness
from the German fleet in that zone In
conference with the Argentine exports
while the north Atlantic Ocean remained
navigable would doubtless fire the demand
for domestic wheat. Any general dis.ipa-
ton of the British control OF the sea
would result in chaos here and in South
America
The absence o. an unwieldly short IN
terest is still keenly felt, and conversely
tho small advances IN the list ara utilized
by elements. which In the aggregate form
very broad. specul tive long account.
to accept profits. The markets tech
meal position partly explained the disap-
pointing trend OF values. Hedge selling
and weakness IN coarse grain were other
factors. Operations were hindered 10y n
disorga nized wire service resulting from
the storm.
There was precipitation covering the
entire wheat belt. More rain and snow
Z ..v1,4 loo
ure should temporarily appeasc those in
terests which have had drought COM
plants from Kansas. Nebraska ana OKLA
homa. This precipitation has not come
I'm lime however, to be fully reflected in
the Government report scheduled for
the l7th inst.
II was reasoned that the improved
weather conditions would stimulate soma
further farm offerings a the Southwest
Receipts from that section continue 10
he liberal and go long way in satisfy
ing the cash demand, especially at the
Gulf points The movement yesterday
amounted 20 100000 bushels, comparing
with ,o1J 600 a year ago.
CoRS.--EXport sales were estimated at
$50 600 bushels This foreign buying ana
strong markets abroad impaired a good
undertone to local market for time.
shorts also covered on the WEI weather
through the country. Farm offerings IN
creased however. and there was liqui-
Dalton on expectations Of big receipts
to-day. particularly at Chicago, whers
i55 ears are looked FOR. There was
no special support TO the list in the la,s
trade The visible supply increased =
III 900 bushels for the week.
OATs.-Prces swayed with the changes
in corn. Neither export nor speculative
absorption was active. Not much huyins
| developed on the decrease OF l,o'o.ooO
bushels. which was no. really expected.
PROVISIONS Trade was quiet Hog re-
CENTS We're heavy and marketing was
at declining prices. hut product held
fairly we'll Tvidentl' many operators
had already sold in anticipation OF the Dig
hog movement
chicago prices