New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-05
REVIEW OF THE
CROP MARKETS
Wheat Holds Steady-Corn
Weakens-COtton and
Coffee Decline.

NedkeI1S"NOt dIfO
Coffee Decline.
Fluctuations in the wheat market for
the last week were within narrow limits
, with the strength increasing late in the
week. last trading being affected by re-
ports of shortncss in the Argentine crop
and a marked advance in European mar
kets Shorts were inclined 10 cover, there
was a fairly active demand and offer
lnss were small and deliveries from farm
crs were smaller. There was furry
among December shorts early IN the
week. hut il had little effect on the rest
Of the market Stocks OF wheat are still
quite liberal. both in America and in tu-
rope. but IL is expected that from now
on there will be a gradual decrease in
the visible. and as il is yet about seven
months before new crop wheat viii he
available in the Northern Hemisphere
Europe is apparently becoming somewhat
apprehensive regarding supplies.
The Russian crop has been estimated at
about 500. 10000 bushels. but these figures
are not generally credited, and so far
this season offerings from that country
have been very small India is not eX-
pected TO export wheat this year on
account Of the drouth, and while there
is a good crop in Australia the exports
from there are not very important fac
tor. one important question is whether
Argentina is in a financial condition TO
hold wheat for any length of time. and
crop conditions in America are so favor
La1V ne
the worse
An oversold market. with shorts anx-
ious 10 cover. caused considerable firm
ness in corn early in the week, but the
technical position IS believed 10 have
been improved by the wedding out Of
good many weak longs, and fluctuations
were small until Saturday, when heavy
selling OF the January option caused a
slump Of 2lsc, for that month, with later
positions off a half cent. This was be-
heved 10 represent cash weakness caused
by large Accommodations OF low grade
corn for December delivery, and the
trade Is somewhat puzzled over the stu
alton. although an increase in the con-
sumptive demand is expected.
oats have been Irregular, with moderate
fluctuations. an oversold market and the
rally in corn giving a stronger tone. The
supply IN this country continues large.
teing close TO 100000 bushels, against
%. SCI 900 a year ago, with current prices
. 10 cents higher than at this time last
year
There was some irregularity in the cot
ton market on Monday, followed on Tues
day by heavy Southern selling and local
bull liquidation. The rally Of Monday
reached the highest point since the break
OF three weeks ago. and in the last four
days prices have receded 10 well below
the low level Of the December break, the
late selling movement Of Friday being
carried over into Yesterdays trading.
Bearish feeling is rampant at present, and
traders who were bulish two months ago
at "A cents are now talking about l1-cent
cotton for the near future Hedge selling
By Southern factors and liquidation by
New Orleans bulls are credited with
causing much Of the slump, based on pre-
dictions Of extremely bearish hgures IN
the next census ginning report, due on
January g. forecasts being suf1iciently
large 10 indicate that the government
estimate Of a total crop OF 142I,OW bales
/ including 100000 linters. was too small
Prices are now down 10 about the low
est since last July. and in spite OF the
fact that growers have already unloaded
/ about two-thirds OF this seasons crop, at
the high farm price OF 12l2c 10 lSc, the
most profitable they have received on
record. many members OF the trade are
/ oh urfrk :
/ &, New York forcing a decline in prices
and urging an anti-optioU trading Dill
AGAINST dealers in cotton futures In the
mean time il is well 10 remember that
,ba nlaciug in receivers hands OF big
co,ton conpressing firm in Charleston, 5
r. and three large department stores In
4 New York has acted as brakes on any
developnent Of bull enthusiasm.
pverv day OF trading In the week
sno,,es declines in the coffee market. the
trade realizing from the continuance OF
49,, recejpts at Brazilian primary points
49, the current crop had been underes-
i fipsted 4 new low lever mas peeh
reached here on this downward move
mont. AND the foreign markets nave aiSo
/ declircd The cost and freight market
,ss also been lower. indicating a WHITE
noes IN sell on the part Of Brazilian hoid-
ers-in fact. some pressure having oeNe'-
/ o,ed There Is little prospect TOT an I'M
/ ,,,o5iste advance Santos receipts sho"
o. cron well over the 100000 mark the
consuming trade still pursues its ponce
~ buving for immediate needs. even win
q, decline ir spots. and outside specuia-
ton II al a standstill
In .he country produce markets 'ne'e
have been advances in butter and eggs,
with cheese holding steady and the sina''
er,i,s and vegetables affected by the
usual fluctuations Potatoes have gone
birher. OWING 10 the embargo on the
! r,nronean supply and the shortness OF the
! American crop, the advance IN some IN
stances being marked Foreign eggs nave
helped 20 keep prices WITHIN reacnns u'S
-. la, Tor the best qualities full rates
are easily obtained.