The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-24
GRAIN MARKETS.
wheat Liquidation Offsets Foreign
Dema ud-Ex porters Buy oats.

From all positions there were approx
mately 5000, 900 bushels of wheat sold to
foreigners yesterday. The great bulk OF
the wheat was domestic and the principal
buyers were European Governments.
Purchases Of grain for Italian account
were huge. and from the 1uctuating rates
in insurance circles II was deduced that
Italy was on the verge OF casting its lot
with the Allies. Authorities ventured the
opinion that such AN extension OF the war
should be bullishly construed in wheat
circles. while others saw in 8; the possi-
billy of an earlier end OF the struggle.
After Il series OF erratic price changes
the list closed at fractional losses There
was more commission house selling than
buying. due 20 the disposition TO accept
profits. runors concerning a forced open
ing OF the Dardarelles and large Argen-
tine crop estimates.
Local representatives OF important for
eign houses were advised that the eX-
portable surplus in the Argentine should
reach 100000 bushels. This total is
about the maximum estimate thus far,
comparing with an official guess OF IA, =
5000 about a month ago. In the In
term there has been considerable unpro-
pltious weather.
Assuming that the seemingly high crop
estimates from the Argentine are war
ranted significance should be attached "a
wheat values there Since the day when
the bearlsh official figures We're given out
on the Argentine surplus November 2)
Buenos Ayres wheat prices have risen
from about sl.lI to Sis, against a gain
IN the Chicago May option OF eight cents
bushel The record shipments from
, the Argentine were 1879 000. 900 bushe Is
in loOs-Oe.
Al one stage yesterday quotations es-
tablished high levels for the movement
and in cases for the season. II appeared
as though the foreign absorption was re-
/ sulting in disclosing rampant specula-
| tive holders OF wheat who argued that
farmers would soon conclude selling at
| from 81 0j to $40 and hold until 81 %
was paid. However. many operators pre-
( ferred 10 even commitments prior TO the
holidays.
Much comment was directed 20 the
clearances Of l.s50.oO0 bushels yester-
day. A record BrddStreets export state
ment Is looked for this week Receipts
are likely 10 increase somewhat, accord
| ing to cash wheat handlers. because OF
the recent farm selling on the price en-
hancement. For three days this week the
! movement totals 4.6i9, 900 bushels. aralns.
i.lS5.000 bushels last week and 3,505 600
bushels a year ago.
Corn.--In spite of the country selling
and charges that the short interest had
been substantially reduced, the list closed
at small advances There was n moderate
export INQUIRY with sales OF 100000
bushels. Speculative demand was only
/ temporarily halted by the wheat reaction
II was averred that strong interests here
have been accommodating corn for some
time and were now taking advantage of
the diminuton in the farm movement
Receipts for three days total 4,412.0O
bushels, against 5.3G6,000 bushels "A weel
ago and 600 600 the corresponding wcct
last year Outside interest in the market
has broadened,
Oats.-The English Government pur'
chased 1000. 900 bushels at Winnipeg yes
terday and the Italian Government "a like
quantity at Chicago. Values ruled strouE
on these transactions, there being heavy
buying OF options by interests who negoti
ated the export business, On the upturr
profit taking was met and there was som,
country selling. Sentiment, nevertheless
was more bullish.
Provisions. For a time the list wa.
held by the strength of grains. Packer,
were disposed to supply the inquiry. how
ever, Hog receipts were liberal and
values lower.
Chicago prices.