New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-26
REVIEW OF The
CROP MARKETS
Grains Recover Early De
CIines - Cotton and
Coffee Advancing.

While net changes in the early wheat
markets last week were small the ten
dency was downward. and traders eXhih-
tied nervousness The weather in the
West was factor. but the principal in
fiuence on the market was the condition
Of crops Nsouth of the equator. with The
amount OF exportable surplus likely 10 be
available the main question. Wncn ~ ne-
came definitely settled that this surplus
in Argentina and Australia would be
small the market hrmed up. and before
the close recovery Of more than ~
cents a bushe from the low OF The week
had been recorded. Offerings became
lighter and buying orders more numer-
GUS and with large export sales recorded
and In prospect the fact that Europe
would have 10 draw heavily on American
supplies gave the market a decidedly
firm tone.
One thing which helped was the fact
that overconhdent bears had oVersod the
market The big premium ON May con-
tracts has disappeared during the week,
but cash values have been strong. with
advances in premiums IN some Instances.
The advance to the nigh Of the week on
Saturday was helped by the appearance
Of sharp cold wave in the American
Northwest, which threatened 10 work
southwark over the winter wheat lelt,
where the crop is now practically bare of
snow covering and in a position 10 be
damaged by extremely cold weather fol-
lowing the recent mild and damp cOndi-
tons
Receipts at Western points were fairly
liberal. and for the " eek amounted TO
10000 bushels. compared with 4,S2lOo
the previous week and 6sp7.Ooy last wear.
The news from Argentina was again bull
ish. and a large Chicago house, which has
recently been investigating the situation
there very closely. ventured the opinion
that the eXpcrtable surplus from that
country will not exceed 100000 bushels.
Corn, like wheat. was unsettled and on
the down grade early in the week, based
on expectations Of a heavy surplus IN
the Argentine, new corn from there being
offered freely for forward shipment AT
one time May-June shipments TO Liver
pool were quoted at 6l24c, contrasting with
65c for contract May corn in Chicago. In
the late trading the market was hrmer,
with less favorable reports from the
Argentine IL has been noted that al no
time was there any great pressure to sell,
while shorts were good buyers on an ad-
vancing market late in the week.
The local market advanced In the face
Of a light cash demand and offers Of
Argentine at slightly lower figures \
factor in the situation is the reduction OF
more than 100000 hogs in the country s
supply in the last year. and the increase
in the stocks Of contract corn at Chicago
TO ., 1876 600 bushels against $4,000 bushels
year ago. AS with wheat, an oversold
condition Of the market materially helped
the late advance.
oats, as usual followed the lead OF the
other grains, with trading mostly Of a
speculative character and no features OF
particular interest. The estimate OF the
Canadian crop has been increased 100000
bushels, and the contract stock at Chi
cago is ten times as large as 1t was a
year ago, with the total American supply
more than double last years figures. The
smaller grains. rye, barley and buck
wheat, have held steady throughout the
week.