The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-30
THE GRAIN MARKET.
Exporters Buy 100000 BusheI. of
Whent-AiI values Rise.

Many in the wheat trade were be-
wiidered by the erratc price changes Of
yesterday. During the early session there
was Perpendicular decline OF igc.. which
was accelerated by stop loss orders. Sub
sequently the action OF the market was
decidedly reversed. and al the finals
strong tone was again in evidence.
IL has been generally agreed that the
volume of tine export sales from day to
day would principally determine the
course Of prices, and consistent with this
theory the absence OF noteworthy trans
actions resulted in weakness on Mon
day while foreign purchases of 1900
600 bushels yesterday did much to i'm
part strength.
The export business was said 10 have
been largely due to the freight situation
IN Argentina. Rates have risen there to
the equivalent OF 33c bushel, against
the nominal rate of 1Sc., from domestic
points to Liverpool. The advance in the
COSTS or ocean transportation at Argeu-
tina has been &C. In three days, which
served TO place the offerings from that
country on "A parity with American wheat
To undersell domestic wheat holder. the
grain In Argentina has to be disposed
Of at near.y i5c. bushel under com
petitors' prices.
The early news from abroad did not
greatly encourage speculative owners
there beng belated reports of relatively
cheap Argentine wheat and reltera ted
hgures of l2O.o00,000 to 10000. 900 FOR
the eNportable surplus Arfnour's agent
cabied that the excess In Argentina would
only reach l0i, OO0. 600. Incidentally. that
concern was among the conspicuous buy
efs on the depression, as were bic chit
caEo traders, who accepted substantial
profits on Monday. There was also
demand from 10" inyetorate bulls. who
seemingly purchase on all moderate re-
cessions The four cent setback regis.
tered Yesterday naturally appealed TO this
element.
Some traders were preparing for a
bullish weather map to-day The winter
wheat belt has hal fair snow cover
but rains have fallen over the great
Eastern district during tho past forty
eight hours. \ cold wave "a sweef,jng
down. which. following tho rains. may
lead TO many complaints.
Tie statistics were without influence
on the market Interior receipts were
double those ~ year ago, but ship
ments were equally as heavy. Seaboard
exports totalled l.2Ou,0uo bushels. in
Guiding - eco barrels of ilur BRAT
Str''JS visible statement showed $1,000.
on0 bushels IN the Cnited states. against
i5.ooo,oo0 In 19l3--ahout 3N.0OO.uOO m
Canada. comparing with $4,000. 900. and
S5,o0O,0oo IN Europe, against 1900. 900
year ago.
Corn.--Leiding longs were credited
with adding 10 their holdings on tho de-
cline. which was caused by tho early
downturn IN wheat. Cash houses wera
buying, with export sales stated to be
IN excess OF 30O.ouD bushels Some very
optimisti. Argentine crop accounts were
~ hand. but eXerted no marked effect
Country selling was not burdensome and
hulls predicted that larger receipts would
be met with a larger domestic cash de-
mani Colder weather is expected and
feeding should b. heavier. The receipts
Yesterday wers 1895 ooo bushels. against
l.J47 o00 a week ago and l,212,o00 a
So: age.
Olts.-Reports that more than 1900
ZOO bushels had been absorbed by Euro
pean interests this week brought about
furthe- speculative demand. The mar
ket was helped by the late rise 81 other
grain values. Sentiment was quito bull
lish.
Provisions--T'he rst failed 20 retain
early advances Offerings increased do
spite the bulge IN grain values Hogs
were easter ard there We're predictions
Of a rather b,.sr,sh Chicago monthly
stock statement