New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-16
REVIEW OF THE
CROP MARKETS
Grains Firm on Technical
Conditions-Cotton High
er-COffee Receivers.

Firmness in the wheat market in the
week just ended was based on a bullsh
construction OF the governments farm
reserve figures, which showed the small
est amount left in farmers hands since
1902 being 10000 bushels, or 1919 per
cent Of the crop. This frmness was
added 10 by an oversold condition Of the
market, which was more in evidence in
the late trading, when shorts attempted
20 cover. The combined effect OF the two
influences was enough 10 overcome bear
ish crop conditions both here and abroad
and 10 cause a net gain for prices on the
weeks trading
European markets have been kept down
by fairly large worlds shipments, al
though no large business has been re-
ported for export IN either American o.
Canadian wheat 4 Western trade paper
is credited with the statement that there
are about l36,0O0O00 bushels here avail
able for export and carryover during the
balance OF the season. Sellers are IN.
clined to be extremely cautious, as the
season for crop scares is at hand, al
though all reports to date are OF the
most optimistic character. one prediction
being that Kansas is TO be counted OF,
for $4,000, 900 bushels, after allowing FOR
deterioration.
The chief trouble with the market has
apparently been too much confidence on
the bear side, but some recent losses have
tended 10 lessen that confidence. The
cash markets both here and in the North
west continue firm, and receipts at pr.-
mary points are small, some hard win
ter being received at spring wheat points.
While there was considerable narrow
ness and uncertainty in the corn market
much of the time. and at one time prices
were weaker on short selling and a slow
cash trade. the market hardened with ali
improvement IN the cash demand. and
the late trading found bulls in control.
While cash corn has been selling at
discount from futures, there is an inn
preston that there may be a change in
the cash situation and that there IS none
too great surplus with which TO carry
tho market TO the new crop. Argentine
corn has been offered for future shipment
at favorable figures, and the first car OF
Argentine, via Galveston, reached Chi.
cago last Monday. There IS likely TO be
restriction Of movement in the interior
within a short time. as the country roads
will be in bad condition.
As usual, the oats market showed little
or no feature Of It's own, being governed
almost entirely by the action OF corn.
There was sharp drop in prices on Mon
day, and Chicago reported that some ele-
vator companies were Offering oats for
shipment at cost to make room for corn,
the buyer TO remove the oats at once,
$4,000 bushels being sold to Eastern buy
ers on these terms. Late in the week
there was an advance, but it was not
based on any inherent strength in the
market. and last sales were at split price
changes.
Flour has been quiet, with trade in an
unsatisfactory condition and buyers stick
ing to the hand-to-mouth policy Of maxi
ing purchases. Prices have held steady,
although some Of the mills are credited
with a willingness TO shade figures in
order TO stir up some business.