New-York tribune., 1914-11-23
COURSE OF WEEK
IN COMMODITIES
Wheat Less Active and De-
clining-COrn Weak
Oats Stronger.

There was less snap 20 the wheat
market in the week just ended, with a
slight decline at the start, followed by
q rally, with increased weakness at
the close. Price changes were not
large and there was some sign Of
nervousness at times. Receipts at in
terror points fell off somewhat, show
inc that the crest of the movement 20
market has passed, and while export
demand continued good, with European
buyers apparently ready 90 pay almost
auv price asked, the scarcity Of freight
room, with the consequent advance IA
rates, tended 10 check export sales for
prompt shipment. One thing which
helped TO weaken the market in the
face Of export sales of from 100000 TO
100000 bushels day was the marked
increase in the American visible, ag-
grepating 5,G37000 bushels, making the
supply Of American wheat in the world
125.447, 900 bushels, against l2l,O45,OOO
a wear ago. Bulls claim that the visible
will decrease from now On, and there
arc estimates out that Of the present
stocks anywhere from 10000 900 to
6O.OOO.OO0 bushels have already been
sold for export and are simply await
ing shipment.
Another feature on the bear side Of
the market was the fact that harvest
ing in the Argentine has begun under
very favorable conditions, with pros
meets of a good expOrtable surplus and
active selling in European markets.
This with the added effect Of extremely
favorable reports from Russia, natu
rally had a deterrent effect on bull
enthusiasm. II should not be forgotten,
however that already something like
100000 acres of the finest agricult-
ural country IN Europe has been over
run by the contending armies, and that
amount of territory is removed from
the producing part Of the continent, for
this season at least. The close of the
week showed No. 2 red, f. 0. b., quoted
al 81 2494, or only Ac. above the fig
ures for the same date a month ago,
which makes an interesting compari-
son.
The corn market has been narrow
and sluggish, with a weaker tendency
although there has been no aggressive
selling or buying. The new crop IS in
excellent condition as 10 dryness, max
ing IL available for prompt export, and
under present conditions foreign buy
crs are apparently ready to come into
the market for quantities when any
real weak spots are shown. Last prices
for the week for No. mixed, 7G4c.,
were 6Hc under those for the same
date a month ago.
Oats. while showing weakness early
in the week, frmed up in the late
trading. and while other grains were
declining advanced slightly. This was
due mainly TO light interior receipts
and some export demand, Chicago re-
porting sales Of 100000 bushels in one
dav for shipment to Genoa. The total
American stock is figured at 42,3OO,OOO
bushels. or about 100000 less than at
this time last year, and the available
stock decreased nearly 100000 bush
els for the week, against small in
crease IN the same week year ago.
Last prices for the week were sc. un-
der those Of a month ago and less
than &c. above those Of year ago.
Unusually large exports of rye
against comparatively light receipts
have kept that market much stronger
than usual.
Export trade in -four has decreased.
and as the domestic consuming trade
is not inclined TO buy except TO meet
immediate needs, business has been
quiet, with prices holding about
steady. There will be an advance in
freight rates of about lc. hundred
to points east of the Mississippi on
December /, but this is practically dis
regarded by the trade, which is at pres
ent awaiting developments.
The Big Cotton Crop.
The reopening Of the cotton ex-
changes here and at New Orleans and