The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-07
THE GRAIN MARKETS.
Values Decline-Reduced wheat
and Oats Demsnd--Coru Easy.

The principal reason for yesterdays
depression in tho wheat market was the
halt in the export inquiry. This lull
sufficed TO dull the enthusiasm OF many
spectators and its continuance might
serve to dlslodge the wheat held by the
more timd. The foreign absorption did
not entirely subslde, there being esti-
mated sales of 250,00 bushels OF wheat
and several thousand barrels OF flour.
The initial bulge was short lived. A
very firm Liverpool market and revised
views concerning the business with Eu-
rope on Monday (sales approximating
SOC, 900 bushels) in conjunction with the
successes OF the German army, the latter
dissipating the hopes OF an early cessa-
ton OF hostilities, encouraged scattered
demand for a time. There was no ag-
gressiveness, however. and the hedge sell
ing undermined the market
Some of the large handlers OF cash
wheat say that the trouble with the mar
ket at present Ia the pressure of low
quality wheat. Grain that grades from
No. down to has to be sold some
place. and with Germany and some other
users OF these varieties out of the situa-
ton, temporarily at least, there Ia pres
sure which has a wide effect upon the
cash situation.
The movement Of wheat from farms
has at last shown dimlnutlon, with
the receipts yesterday only slightly in
excess of those for the corresponding
date a year ago. II remains to be seen
whether this comparison will be the same
In the future, most opinions being in the
negative.
Wall Street houses sold wheat yester-
day, but 1t is believed that aggregate
holdings of this circle are still fair In
Instances operators have relatively high
priced wheat on their hands. Longs" OF
this class are not inundated or forced
TO 1lquidate by break OF 3 cents or there
about. and although buying power Is in
terfered with because of the paper
losses" exception IL taken by some au-
thorities to the unqualified and broad
statements OF tho market being technically
weak. On the other hand. there is AL
ready talk OF the effect OF December de-
liveries.
CoRS.-The Government report will be
issued after the close OF to-days market
Last month the showing was 2,59s 1000, 600
bushels and year ago the outturn was
unusually small at 2,44s. 900. 900 bushels
Yesterday there was heaviness in the
market based on expectations OF n show
ing close TO 400, 100000 bushels. New
crop offerings also weighed down on
values. There was no especial better1nen,
| in either the cash or speculative demand
Argentine offerings here continued. but the
inferior quality made buyers wary despite
low prices.
OArs.-The demand was diminished
while hedge pressure remained. Export.
ers said that less business was being done
| Some speculative holdings were liquldated
The trade paid attention TO the unabated
substantial movement and ignored re.
newed claims of serious shortage In
| Canada.
ovfsroNs.-Prominont Chicago inter
ests still prefer the selling side There
has been speculative buying, but 1t has
proved Ill timed thus far. Packers do not
furnish much support, as they find meat
trade slow. The hog market was easier
yesterday.