New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-12-14
COURSE OF WEEK
IN COMMODITIES
Grains Make Net Gains
Cotton DeClines-COffee
Advances, but Reacts.

There was early weakness in the
wheat market last week. with general
tendency toward lower figures, selling
stimulated by a slackening Of the eK-
port demand, and receipts much larger
than had been expected at interior
points. The main checks 70 a pro-
nounced decline were a continuance,
though comparatively small, Of the ex-
port demand and a falling off in the
available I'm this country and Canada,
which appeared against big increase al
this time year ago. Prices, however, did
not show any marked changes either
way until the late trading OF the week,
when there was a sharp advance, fol-
lowing "a period OF nervousness and UNI
settlement which had been so marked
that export sales Of about 3,0OO,OOO
bushels on Wednesday affected Thurs
days market 20 the extent of only &c
20 sac. The caution which prompted
this apparent Indifference disappeared
later. however. and on Saturday there
was a Jump Of from ] &c 20 l7sc a
buehel. with strenuous call for
freight room. export sales aggregating
about 100000 bushels for late Friday
and the halliday Of Saturday, and for
eigu buyers busy after the official close
of the market az prices said 20 have
been still higher than the last quota
tious.
The appearance Of Greece as q buy
or both here and in Chicago gave rise
20 many rumors as 20 the possible
wants Of Mediterranean countries, as
Italy a. credited with having bought
half million tons of Argentine wheat
in the last few days. One feature of
the export trade which failed 20 at
tract the attention 10 deserved was
the shipment Of 100000 bushels from
New Orleans 20 Hong Kong, showing
that the Panama Canal had entered
into the calculations Of the export
trade. While exports from the Argen-
tine were small during the week, there
is every prospect that they will soon
show decided increase, the British
naval victory IN the South Atlantic
relieving approximations OF trouble
through German activity, with the
latest estimates showing an export
able surplus there Of about los, 100000
bushels. The scarcity Of ocean freight
room initiates in measure against
the outgoing trade, but It is believed
that the present high rates will draw
out many vessels which have been
kept tied up.
Corn. which was practically at a
standstill early in the week, had a
tendency toward weakness, which was
not overcome until foreign buyers
came into the market and stirred
things up. The stagration was caused
bv the tremendous influx Of corn from
the country 20 primary points and
the slackucss of demand. Chicago
reported for one day the record re-
ccipts Of 1,410 cars. With prices any
where from 90 s cents below those
Of a year ago, exporters were tempted
into the market, and late prices
showed some recovery from the early
depression. American dealers, how
ever, are keeping sharp eye on the
Al gentine, where there is an export
able surplus of about 100000 bush
els.
Oats also felt the stimulus OF an ex-
rort demand Of fair proportions, and
while they have ruled steady have
been affected by conditions in the
wheat and grain markets. Late trad
ing Of the week was at an advance,
due 90 export sales Of about l,0OO,OOO
bushels. The Argentine is reported
20 have a surplus of from 100000 900 TO
90OOO0OO bushels, but, as with other
grains, trading is hampered by lack
Of freight room.
The smaller grains have held steady,
with some demand for rye for snip
mert 20 Europe.
Flour has been quiet, with the ques-
tion of free storage at terminals inc
- IN "a p
kot BUYERS are purchasing only 20
satisfy immediate wants, and the de-
mard for export has cut little or no
figure. Production last week at the
three big Northwestern centres was
about $4,000 barrels more than for the
preceding week, and more than 100000
barrels more than for the correspond
ing week last year.
In the Cotton Market.
There was nothing Of interest in the
cotton market until the publication OF
the governments crop estimate, and
that took the heart out Of the bulls,
for a time AZ least. The trade had been
prepared for a crop equal 20 the 1911
figures, Of l6,2O0.0O bales, but when
a crop Of l5,966,OOO bales, exclusive
Of linters, was chalked up IL did not
matter Of fact the trade had a crop
Of about 100000 bales 20 take care
Of when all yas said and done, and
that the cotton loan plan, which made
s cents the minimum price of the sta
pie. was not such a sure business prop
osition as IL looked 10 be at first. That
Is what the plan really amounts 20, as
there would be no need for the farmer
20 sell his product at less than 6 cents
when he could take IL 20 the syndicate
and borrow that amount on the pound
and let the lenders carry il.
While there was partial recovery
on Saturday from the drop occasoned
by the crop figures, both futures and
spots closed the week az declines, and
with mills buying only from hand 20
mouth, some of the big Southern denim
people held up by lack Of dyestuffs and
some heavy sales Of Christmas cotton
expected the outlook for any imme-
date permanent advance is regarded a.
poor Exports have increased steadily.
but IL will take larger figures than
have come into sight so far 70 make
much of au .m0rcs-.ou ON the enor-