New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-08-31
COURSE OF WEEK
in COMMODITIES
Sharp Advance in Grain
Prices-All Foodstuffs
Higher-COttOn Dull.

While there were slight recesslonS
at times, the general trend OF the gram
markets in the week just ended mas
been upward, wheat especially showing
some marked advances. the Aggregate
increases for the month having Dee"
iron, "a TO p cents. This has not on!
siderablv disturbed the grain trade
Int has attracted the attention oil tne
whole country, and much OF the au-
vance has been attributed 20 OUTSIDE
speculation, which has been GIscouI-
aged as far as possible by conservative
members OF the trade. IL has All peeN
based on the expected heavy demahcs
from Europe for supplies, one calcula-
ton showing that with the RUSSIAN
supply cut off from its regular export
channels the United States might De
called on for 100000 or 9OVo'ooV
bushels q week, with the posslpliity VI
aisposing OF even O,OOOOOO puSheis d
week q matter of much moment AZ
The statistics of the week were puIilsh'
The American available supply &C.
creased 2.4S6,O00 bushels, against a ae
crease in the same week last year OF
only $4,000 bushels, and the world
sunply decreased 2,GS6,00O, against an
increase in the same week last year OF
2.124 600. The wheat stock OF me
world is now put at 1O7 ,6s9,OOO busheiS,
against l25,179,0O0 year ago. an !
with enormous quantities OF GROWING
grain destroyed by moving armies an
other enormous quantities lett uhcuit'
waited and unharvested by the WIFI
drawal of men from agricultural puI-
suits, the grain is certain 10 become
scarcer and of more value. Great BRIT
ain has naturally been the largest pur-
chaser in this market, although other
countries have bid for supplies, nota-
| bly Of -four, il having been learned re-
Gently that upward OF million barrels
have been contracted for since the war
[ began. The call for -four has been so
great that Canadian wheat has Deen
bought in this country and shipped 70
/ Canadian mills for manufacture INTO
blended -four for the English market
The excitement was added to by DO
nestle distributors of -four, who were
caught short OF stock and have had 10
come into the market in competition
with Europe. In addition TO all this
the Russian crop of winter wheat mas
been damaged by storms, and the eX'
portable surplus, if any. vii be mucf
smaller than usual; the Argentine IS
!
tralian outlook is very unfavorable
most of the supplies there being in the
hands of the millers; the Indian mar
ket is very strong and the Canadian
crop, il is estimated, will be 6O,OOO,OO(
bushels less than it was last year. Al
these things explain the bullish Ten
dency in the market. and while Their,
will undoubtedly be some sharp De
clines at times they will more likely
be due 20 a desire 10 take profits II
sight than 10 any material change il
the underlying conditions. The natura
inference is that the American whea
grower will greatly increase his acre
- age for next season, as even with
greatly increased yield there will still
be a good and profitable market for nj
; crop The closing price of No. 2 rec
wheat on Saturday in the cash marke
was 81 15K, against 9Sh cents
month ago, and 96ia cents for tn
same date last year.
/ Corn reached new high levels for th
season, being helped by the strenstl
of the wheat market and the probabll
lity that the crop would be something
! lik, 300,000,000 bushels under the re
quirements Of the country. One poin
| i'm the corn trade was the argumen
that the increased export demand 70
oats would serve TO Increase the yalu
of corn. Late in the week, however
farmers showed more willingness &
send supplies 20 market, but the declin
Of Friday due TO this was made up b.
gains on Saturday, and the markc
closed firm. The last cash price 10