New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-09
REVIEW OF THE
CROP MARKETS
General Tendency Down
ward, with Low Levels
in Cotton and Coffee.

With almost perfect crop conditions re-
ported from the growing districts. liberal
domestic supplies and lower foreign mar
ketS based on the existence Of what are
believed to be comparatively heavy re-
serves abroad. the local wheat market
has felt the effects OF some heavy liquida-
ton in the week just ended. and prices
have tended downward, although there
has been only limited volume OF bust
ness. There is a strong feeling that, in
is not entirely wise to venture very far
on the short side, as deterioration is not
an inpossibility.
Foreign buying countries have not kept
up the expected demand for American
wheat, and this has led TO the belief that
reserves abroad are larger than had been
reckoned on. This feeling is added to by
the fact that worlds exports were lighter
than had been estimated. the decrease in
stocks afloat being 100000 bushels,
against an increase year ago Of 3,0e2,0oo
bushels. Europe is apparently being sup
piled with wheat through other channels
than Argentina and America, and ship
ments from the Danube, Russia and Aus
trala since the beginning OF the present
year have been nearly 100000 bushels in
excess Of last year for the same time,
a.. Col Ia, haG
been scarcely more than half that much
There were small reactions from the pre-
vailing scale down. but they were only
temporary and were based entirely on
technical conditions. and the latest up
turn was checked by higher estimates Of
the farm reserves.
There was little or no interest in corn
during the week. and the market as a
whole was dull and narrow. the only
feature being some heavy selling by Chi
cago bulls. Primary receipts have eX-
ceeded last years figures. while ship
ments have been smaller than last year s.
While the decline has not been marked,
the market has shown considerable SYM
pathy with wheat. and there has been
only moderate cash demand. Argentine
corn has been offered for forward ship
ment at below parity with home prices,
and the interruption to country deliveries
by the storm was partly counteracted by
the arrival at Galveston OF a cargo OF
900 bushels
Oats have continued 70 be reflex OF
the other grain markets, with selling by
commission houses and buying on waiting
orders by spectators. Values have been
Influenced by reports OF increased acreage
in Oklahoma and the slackness of the
cash demand.
The Slump in Cotton.
New low price levels for the movement
I'm cotton were recorded. closing figures
being at practically the low Of the week,
due partly to heavy liquidation by South
ern and Wall Street interests. with some
selling on Liverpool account. the latter
being mainly I'm the way OF undoinS
straddles. From 12H cents for March and
11.S cents for May on Saturday Of the
previous week. there was a. slump by
Wednesday Of % points on May and July,
with 10 10 10 points off on the rest Of the
list. There was a rally on Thursday ana
Friday but in the last hour or Friday
heavy selling movement set IN when I'M
covered stop loss orders and was fol-
lowed by further heavy liquidation sales
on Saturday. although there were several
features which tended 20 encourage the
bulls
The meeting OF Lancashire spinner3 70
discuss short time resulted in post
for two weeks. and BRUSH
Board Of Trade returns showed exports
Of yarns and cloths for February IN eA-
,asq ~ last wear. Weekly reviews OF the
drvgoods situation indicated a quiet de-
mand I'm primary circles, but well sus-
tanned prices as a rule, tnd Western dis
tributers report good volume or ROAD
sales with cash collections slightly III
excess Of last year. Russia mas oeeh
sending bullish predictions to the eHect
that 5000 bales would be needed BY |
SINNERS there before long. and recent
weather has been unfavorable for neld
uorl, The final report of the Census
Bureau on the crop will Dc issued On
March o. and will settle the dlHereliceS !
NJ opinion regarding the total hgures.
This will be the actual count OF oales ,hat
have passed through tho ginning houses !
and will give the ginning without hnters /
80 an estimate Of the linters 20 be /
add.d TO- the commercial crop figures.
Coffee Dull and Lower.
Heavy receipts ut Brazilian primary
ooints. dull speculation and pronounced
on the part or the country
IN huv freely in the face OF the big crop !
fcuras have resulted I'm a narrow, dull
veal, and declining coffee market. 70
,t,cal troubles in Brazil have had little
IN euence I'm the market here, and declines
,ava been made against higher Foreign
and comparatively steady cost anu
freight offers. Present indications hoId
mt little hope FOR permanent increase III
prices. and the consuming trade eVlhces
m interest whatever in the course OF
future prices. Receipts at Santos curing
february aggregated $4,000 bags com
arod with $4,000 during February last
cor II was estimated that receipts IN
sar,os during the present month will be
40 600 TO 5000 bags, compared with
Isl. 600 bags last year and SZS'Voo PASS
vo wears ago. Deliveries IN Europe our
ny February were e44,2si bags com
20 red with s7O.117 bags the previous
,or+h end ss5,5s1 bags last year, while
a, the United states deliveries were dis
,,ro,nting. the total being 414,o7s bags.
emma red with 5e3,s21 bags In January
md 51s713 bags last year The world
.isihIe supply showed a decrease during
,ebriIsrv of 364,SO5 bags. compared with
Iana la ST and