New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-27
COURSE OF WEEK
IN COMMODITIES
Sharp Advances in Wheat
and CONNECTION and
Coffee Lower.

Except for little weakness in the
carly markets last week, wheat showed
a steadily upward tendency, culml-
mating in the squirt on Saturday in
duced BY the threatening political stu
alton in Europe, prices reaching the
high point Of the movement. with only
small reactions before the close. Black
rust in the spring wheat fields added
strength to market already strong or
the heavy export demand, and shorts
were sorely beset at times, with cash
markets all over the country strong
and higher. Millers and elevator peo-
pie have come into the market, evil
IDENTIFY realizing that it might be well
TO take advantage of the low level be-
fore prices went beyond the profit
yielding stage. While foreign crop
prospects are not at all favorable. and
the export trade, as indicated by tom
mage charterings. has reached large
proportions, II is noteworthy that
farmers here are not rushing their
wheat to market. apparently being dis
satisfied with present prices and not
in such need of money that they are
compelled to sell. The spring wheat
people are making very few offers on
the strength Of the damage reports. al
though statements are not few that in
many places the grain has advanced
too far to be injured by the rust in
fact. has beaten the evil in the race for
development. Argentine exports have
been only about 34.000,000 bushels so
far this season. against more than 81
10000 last year, and worlds stocks
arc calculated at 100000 bushels
less than they were a year ago. While
reactions from the upward tendency
are TO be expected. the present appear
ance Of the market indicates that any
permanent large decline from the pres
ent range s not likely.
Corn shared in the Upward tendency
OF prices. although its movements were
erratic and unsettled. Damage re-
ports have had much to do with THIS
condition of things. although small
country offerings and the results OF
government inspection Of Argentine
supplies have not been without bullish
influence. Another cause for advancing
prices was the light available stock IN
this country. 100000 bushels, against
II 100000 bushels a year ago. If the
barred from entry into this country
under the pure food and drug act. a.
has been sugge sted. should be realized.
the fact might have an important bear
ing on prices. and this Is not so far off
as some may hope if the story is CON
firnned that a cargo at a Southern port
is now held up for inspection AS to tho
possibility of its being so badly in
tested BY veevils as 70 be unfit for any
use.
While oats, as usual. moved largely
in sympathy with the other grains,
especially corn, there was not such
wide range in price changes and no
particular frmness at any time. al
though some advances were recorded.
The fact that the visible supply is less
than half what il was year ago Is
not Of much importance. in view Of the
fact that harvesting will be general
from nov on and the movement of the
new crop is on the increase There is
only a fair cash demand ard specula-
ton has not been aggressive.
Flour has responded to the frmness
in wheat and. although buyers have so
far evinced great reluctance toward
paying any more for their needs. it is
noted that some mills have endeavoied
to establish a higher scale of prices.
While stocks in dealers hands are
small. there seems 10 be no anxiety
over the question of SUPPLIES In this
market there has been an advance Of
3 cents barrel on Minneapolis pat
ents within the last two weeks, and
even that has caused protests.
Late Slump in Cotton.