New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-06
REVIEW OF The
CROP MARKETS
Grains Tend Downward
Cotton Higher at Close
Coffee Declines.

the We JUST tnued was Que mainly 10
highly ,rable crop and weather condi-
lions slackness in the export de-
mand. port by Snow gave condition
figures ch pointed to a crop of 10000. %
0o0 bushels. against 100000 bushels a
year ago This feeling Of weakness gave
way TO frmness later. which had been eX-
pected by those who are close 10 the mar
ket. An attempt at a crop scare. based on
some green bug stories from the South
west. gave the market an upturn. espe-
cially on new crop contracts; but the et-
feet was not lasting and was followed by
a reaction The course Of prices IN the
late trading was irregular. but the ten
dency was downward. although there was
no violent enthusiasm on the selling side.
one thing was shown plainly by the
green bug scare. and that is that the mar
ket is susceptible 10 the influences OF crop
news and that traders are inclined to be
cautious even on unconhrmed rumors.
one Of the principal sustaining features IN
the final trading was a report that about
twenty-three loads of hard winter had
been sold 10 Oporto and about ten loads
Of Manitoba had been worked through
Montreal Vt is evident that Europe is
finding little difficulty in obtaining sup
plies and is not anxious as to the future.
Receipts at interior points show gains for
the week Of PSI 90 bushels over the pre-
vious week and $1,000 over last year.
Fluctuations in corn have been spas
modic. and the market has been active
and unsettled, with the trend of prices
toward a lower level. \ factor in the sit
uation has been tho steadlness Of West
ern cash markets Late in the week there
was an increase in the cash demand at
Chicago and Missouri River markets,
with Iowa reported as buying cash corn
on a liberal scale I'm Chicago. The Argen-
tine situation is big influence in domes-
tic conditions and while late offerings
were still under a parity with American
figures there was a slight increase, and
freight rates from the Argentine TO
American ports were firmer. n is noted
that with the reduction in eastbound rail
freight rates IL will be possible TO make
larger shipments of Argentine corn to
New England. cargoes reaching Chicago
by way of the st. Lawrence River and
the lakes. although cargoes are reported
to have been sold both for this port and
Galveston. Purchases nave been made
here at g. cents, c. /. f., for May, and at
So cents, same terms for June, July and
August shipment, both 10 this port and
Galveston.
oats have followed the other grains,
with some liquidation and a little buying
Of May by cash houses. Prices continue
higher than they were a year ago, al
though the available supply is much
larger.
Flour has held quiet, with prices gem
orally steady. due TO the and-to-mouth
policy of making purchases, with the opin-
ion general that even lowering of prices
would be of little avail in stimulating
business. Prices of mill feed, however.
have declined slightly.
Cotton Breaks and Receivers.
The week i'm the cotton market was one
of at times feverish activity, with huctu-
atoms sharp i'm both directions. In the
early trading the March option was the
feature, but with the close Of trading on
Tuesday in that month May took its place.
and there have been some large accumu-
lations Of contracts in May and July by
Wall street and trade interests. Several
things helped the market in the late trad
ing The usual English short time spell
If Easter week was abandoned, Man
chester reported a heavy demand for
cloths from India, Russia was said to
be buying freely in Liverpool and excess
sive rains were experienced in the Gulf
and Southern Atlantic states \ break of
10 to 20 points on Wednesday was mainly
due TO reports from Washington limiting
at drastic legislation in connection with
the anti-option cotton trading bill. Late
Thursday night the board Of governors
OF the local exchange recommended that
trading i'm the new style" contracts for
future deliveries be permitted on Septem-
Der ], instead Of waiting until next April.
on Friday May contracts started upward
and on Saturday reached a point S.
bale above the low level f March last,
with an active and at times excited de-
mand. much of which came from foreign
sources. The story that prominent South
ern mill men are long of May contracts
and intend to demand deliveries as
source of supply for their spindles was
circulated and a belief that it might be
we'll founded probably inspired some OF
the predictions of IS cents for May cot
ton this week, and talk that May must
go to a shipping parity with the South.
At such a parity it IS expected that mill
men would sell their May contracts and
supply their wants from Southern spot
markets, but ii was rumored that these
particular holdings Of May were in eX-
cess of the local stock Most generally,
however. the advance was considered TO
be readjustment due to n general under
valuation Of New York contracts aslcom-
pared with other markets, and an over
estimate Of the amount of tenderable cot
ton in the present crop.
Coffee Declines.
There was some strength TO the coHee
market in the early trading. although
considerable irregularity was manifest az
times. with less urgency 10 selling offers.
The market, however, was unable 70