The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-19
HEALTHY CONDITIONS
IN DOMESTIC WHEAT
Offerings Most Of Time Are Smaller, and There Is
Less Pressure to Sell-Cash Premiums Up
and Primary Receipts Lighter.

more healthy conditions were notice
able in domestic wheat markets early
were smaller, and there. was less pres
sure to sell. Advices from the West
suggested that prominent interests
wero more friendly toward wheat. CIV
ing comparatively strong support on
all breaks, This was partly attributed
@he shpmen o IN n Reary
! channels. both domestic and foreign.
were large. and consequently premiums
tendency has been noticeable for sew
gued that May contracts arc no longer
dear as compared with tho actual cash
Farmers almost invariably make
light deliveries to country stations al
marketed the bulk OF their crop ut the
beginning OF the crop year. rs was tho
case this season Consequently. it Is
ible supply. statement will show i'm
portant reductions during the next
month or two. Demand was acceier-
European markets being Influenced b.
higher advices from all exporting
countries, but particularly Australia
and Argentina. In the latter country
the weather was unfavorable and re-
ceipts disappointing.
Exportable Surplus.
Estimates as to the probable export
able surplus were again reduced. Ii
seems that many authorities who have
been skeptical respecting the smaller
surplus have been compelled TO admit
that the loss was greater than they
universally agreed that the surplus
VIII not exceed 100000 bushels.
which contrasts sharply with 1os,o0o.-
900 bushels last year. To make mat
ters worse, there was an abrupt and
unfavorable change In Australia, har-
vesting returns proving disappointing.
a n NJ Ia .,. ,,
anticipated. Instead Of having there
fore, ,2o,ooo,ooo bushels more surplus
than last year. as recently stated. the
surplus Will probably be somewhat
smaller than year ago. or $4,000, 600
bushels, against slightly over 81 900. 900
bushels last year. This is unfortunate
in Japan. which has made 1T necessary
for Importers In that country to buy
more m freely in Australia The closing
season also had influence In European
markets. It Is probable that Western
Euro o Vii be cor. compelled to depend
plies OF Importance. Exporters here
had been In receipt of fairly large or :
a der for .n,i hard winter wheat durnm
hindered by the lighter offerings and
the stronger prices asked
Nevertheless, moderate quantity of
hard winter was booked and a cargo
of 200, 600 bushels of Manitoba sold for
shipment 10 Lisbon. The strength in
uoHeStlC markets was partly caused
by less favorable weather, tho recent
cold wave being followed by rapid
rise in temperature, the mercury reg
istering around 40 over Il vast ter
ritory in winter wheat States. This
Is decidedly unfortunate. az it is known
that alternate thawing and freezing
is one of the things most dreaded by
snow protection as is now the case. Mild
weather is calculated to cause the
ground to crack, and probably expose
the roots The upward tendency was
checked partly by a fairly large in
crease in the worlds available sup
ply.
Lnte Unscttlement.
| Toward the close the market was
unsettled and somewhat quieter. with
slightly less buoyancy. Buying or
ders We're somewhat scarce, and con-
large short interest had been elimi
mated. It also seemed evident that
small holders for the rise were incline ed
to unload The absence OF important
speculative interest serves to keep the
market narrow. The limited recession
toward the close was partly attributed
to discouraging cables. European mar
kets being Influenced by much heavier
exports from Australia than had been
expected. while clearances from Ar
gentina were also slightly bigger
| Therefore. the worlds exports for
the week are expected to exceed re-
quirments, and hence there may be a
on passage. While receipts at primary
points are smaller than n year ago
they are ample. In view of the large
quantity in sight. a material break
was prevented, partly by the unsea-
sonably mild weather West. the mer-