The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-27
THE GRAIN MARKETS
Rise of Eight Cents In wheat Marks
Excited Days Trading.

The whole market was in turbulent
state throughout yesterdays session.
Following overnight advances of from one
to two cents a bushel. quotations rose in
a way to daze even the older and more
calloused brokers. There was frenzied
buying at times. which did not halt until
the list rested on a basis eight oents
above that OF Tuesday.
The operations OF spectators had
much to do with the panlcky conditions.
In cases outsiders recalled that the wheat
market has already risen about thirty
cents n bushel but from here and there
came orders to buy at the market" from
intrepid persons who have been carried
away with the ldea that quotations will
continue to soar indefinitely. Absorption
of this character made for ..eavy ag-
grcgate and the influence OF IL was poig-
nant. due principally to the reluctant sell
Ing by farmers
Fluctuations OF two or three cents oc-
Cured In as many minutes. The tradi-
tional stories OF immense profits having
been garnered by Wall Street and Western
traders were again current and exag-
gerated. There have been without doubt
great opportunities, come OF which have
been taken advantage OF. but ruthless and
heavy dealings have been partially re-
strained by the commission house require
mcnt of big margins
Realizing sales yesterday did not sur-
fee TO lower the market permanently nor
mater ally Some of the powerful cash
houses ut the West were on the buying
side. II was presumed that millcrs
were still In the market for huge lots
of wheat ms domestic flour users remain
excited and more foreign business Is an
ticpated
Representa- tives OF foreign houses and
local exporters concurred in the opinion
that fresh sales Of wheat and flour to
Europe were considerably reduced. Stil
II was admitted there would have been
business II the farmers had not held so
tenRciously. demanding prices considered
eNorbitant for the present.
II is contended that the big enha nee
ment OF values should induce some farm
offerings and that shorts have virtually
been eliminated. These interests emphasize
the short crops in Europe and the pros
poets OF small yields next season should
tho war be prolonged
Corn-Prioes for corn also advanced
eIcitedly. The List was naturally affected
by tho acuon of wheat There was q
short interest In this market that quick
encd tho upward trend as sales were COW
cred Cash concerns bought freely and
the outside demand was heavy. Country
ceiling was inconseQuential so that offer
ings were confined to pront taking and
bear attacks.
Tho Price Current estimate Of a produc-
ton in the surplus States OF only
1897 900. 900 bushels, against the failure
OF l.220,0Oo.000 a year ago, helped the
advance OF levels
Oats-New high levels were reached
Export business was done DESPITE the in
creased prices asked. Spectators bough,
on the indications OF drawn out strug-
glc in Europe. Along with other grain
farmers are selling sparingy Some
holders with good sized profits liqu.-
dated toward the close OF the session.
Provis!ons-The provision markets de.
clined for a time on further selling for
packers Hog receipts were larger Sub.
sequently there was rally in sympathy
with the great advances I'm the grain
list Cash demand for meats is hesitsnt
but lard IL in very fair inquiry.
ChicaRo pricea.