The sun., 1914-08-29
THE GRAIN MARKET.
Three Cent wheat Drop-Brenk in
Corn and oats.

tOFn ana ooNss
The dumping OF speculative holdings
had much to do with the reversal in
the trend OF wheat values. Trading was
not so furious and the ordinarily dis
interested person was prevented from
entering the market by the oommendable
action OF the leading houses In demand
ing very liberal margins on all transact
tons
Cash wheat prices at many Western
and southwestern points were lowered
from 4 TO cents. Northwestern mar
kets were Correspondingly weak. These
declines suggested that farmers had
finally parted with wheat. The domes-
tic -four inquiry Is less urgent, accord
Ing TO the Modern Muller This is also
reflected In the dropping OF cash wheat
quotations.
Some export business ranspired on
the break. II was extremely difficult to
secure definite estimate. one large
shipper said that business passing was
conducted on private and extraordinary
terms and was therefore hard to trace
The claim is made that during the past
ten days sales to foreigners aggregate
approximately eight million bushels Of
wheat European Governments being the
principal buyers In cases
The list is now from to 10 cents under
It's best levels This realization prompted
wheat by authorities who are confident
or high prices for some time to come
as result OF the crop failures In Fu-
rope and Canada and the war abroad The
weekly statement OF wheat and flour ex-
ports az given by Brdds'reets was bul-
llshly construed, totals being 1900, 900
bushels. against $500, 900 last week and
1.000.000 last year
Washington reports that n resolution
had been introduced into the House to
check advancing grain values by pre-
venting manipulation and placing an en-
barge on wheat and -four exports from
the United States caused some interest, /,
TO call the step absurd. Grain spcculators
could hardly tamper with supply ana
demand conditions at this trying period.
even should there he such ircllnation and
by calling on their customers for heavy
marginal deposits on trades made or con-
| templated they have efyec,uaiiy inter-
| Tered with the speculative mania
The directors OF the Chicaro Board of
Trade have asked exchange members Ia
refrain from circulating fiery literature
on grain value possibilities which rrirh,
tend TO infiamc the minds OF the public,
Banks are not lending money for spec,i-
| lative purposes. and II is said that the
! manipulat'on insinuation Is uncalled for
| One prominent broker asserted that rest.
| less Congressman sec only the wheat pro.
/ uuCtion ana not the consumption. nor dc
/ they take into consideration the effect on
| prices Of the farmers reluctancy 10 sell
! Bankers are laborinR enerReticaIly, en-.
/ dcavoring 20 reduce this country's for
eign gold debt by cooperating with ex.
porters In shipping surplus grain abroad
where II belongs according to economic
experts, who say that an embargo or
wheat and -four exports as proposed
would be unnatural Chaos would y,
created IN the wheat situation and also
/ In the financial world. not to mention
the howl that would he heard from pro.
ducers.
I Corn-The break Of about cents In
/ this market was ascribed partially TO The
slump IN wheat. Liberal corn receipts
were also a factor. az premiums On cash
corn were reduced. Rain fell over the
entire belt and tho late planted will b.
hoped. Speculative demand was quieter
and the short interest had been curtailcd
by recent advances In the price list.
Oats-For a time the undertone was
decidedly weak. due 10 liquidation
and frecr farm offerings Claims ~ a
renewal OF the export demand caused a
rally. Sales 20 foreigners yesterday were
estimated AZ close to 500 00U bushels.
Provisions-Support in provisions wa:
lacking until fair declines had been reg
istered. Outsiders sold the near months
fearing deliveries. The hog market wa
steadier on the whole.
IN