The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-05-04
SAGGING TENDENCY IN
WHEAT EARLY IN WEEK
Much of Time Scarcity OF Good Sup
port, with Offerings Mod
erntely Heavy.
SELLING PROMPTED ny WEATHER
Much of Time Benrish Sentiment Gov
ems Far as Remote Deiiveric.
Arc Concerned.

New York. May 3.-There was n sag
cling tendency In domestic wheat mar
kets early In the week There was much
OF the time n scarcity of good support.
while offerings were, as n rule, mod
erateiy heavy; selling was iar Vnd
there being light to moderately heavy
rainfall over u wide area, particularly
This occurred also III States that were
in need OF moisture. Adviccs from the
Northwest were satisfactory. indicat-
progress. The downward tendency was
checked temporarily by somewhat en-
eeing inueS SeS0i by sm @orlds SHIPS
mcnts and tho resultant huge decrease
In the quantity on passage. $1,000
reduction In the North American visi-
bs supply of G7S9Sog bHshss thus
Foreign Markets.
Eirmness In Europe p,, was partly at.
and unfavorable weather in France.
where spring seeding was again de-
all these influences were In the main
9vershadowcd by tho bright crop out
points point eonih"s light, V and
are fairly large into consu,nptive chan
nels. Therefore another large decrease
Is expected In the visible supply.
No important changes occurred late
In the week. although May contracts
were n fraction higher; whilo tho dis
tribe easier. AS a result. the May pre-:
MUM widened slightly. both hero and
utcd TO the fact that no deliveries had
been made here. while in Chicago the
deliveries we're small and Pr,qmp,iy
were moderately large. and in Winni-
peg they were heavy. Much OF tho
time bcarlsh sentiment governed as far
the deliveries
ccrncd. Throughout the West, In both
spring and winter wheat territory. ia
Practically all reports respecting crops
were favorable
eddy satsfactory. the condition being
and SO in July, when the crop was
donef was decidedly small. the acreage
! heing placed at 100000 acres versus
7.25O.009 last. year and s,5so.oe0 seeded
probable production is Indicated OF APP
proximatcly l35.cOo.OOo bushels. al
/ though some estimate higher.
Spring Seeding.
With clear ana milder weather In
the Northwest. spring seeding made
| It Is believed that the winter wheat
crop Will lie slightly over 100000 900
bushels. possibly 62o.0oo,ooc. but. of
course it is too early 10 form deli
! mite opinion respecting spring wheat.
but with favorable weather. during the
, ntEl iHItt OF four months II Woulu ne
! reasonable 30 count on u yield OF
! slightly under 200 100000 bushels. so
/ that q grand total of 800. 900. 900 bush-
els seems within tho bounds of reason.
| notwithstanding this. receipts at pri-
| mary points continue light and ship
I ments fairly large into consumptivo
schannels Therefore Il good decrease
Is expected in the visible supply. In
spite OF the bright crop outlook. many
conservative traders think that July
ana september have been selling at too
big n discount. compared with May.
This opinion Is based partly on the
assumption that Europe will seed 10
buy here freely. owing TO the lighter
offerings for forward shipments from
practically all other quarters OF the
globe Recently Il fairly largo bust
ness was done in Manitoba to arrive
and a moderate quantity Of No. hard
winter for shipment to Portugal AR
Ecnttne exports for the week were de-
cidcdly mcagrc. only $4,000 bushels.
against 3.GSS,0oO year ago This
makes the grand total since January
! only 2i.052.00o bushels. against &c.
$4,000 for the same period last year.
IrreEuInrity OF Corn.
There was further irregularity and
unscttlement in corn markets during
the week The numerous fluctuations
| indicated active liquidation trading for
both accounts. Temporarily the drift
! was slightly upward, ns shorts were
Inclined to cover partly prompted by
| light primary receipts, q big decrease
III tho visible supply, and encouraging
cables, European markets being infiu-