The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-17
GRAIN MARKETS.
Foreign buying of Grain--Big
whent BuIre-Oats strong.

/
The foreign demand for wheat and -four
has by no means abated. Recent sales
| have been understated according 10 some
unbiased reports. The European wheat
! purchases yesterday were figured at a
| million bushels. Cash people declared
that farmers had again refused 70 offer
much and therefore futures" had to be
taken. While 1t Is possible that the seven
to ten cent bulge since Monday night
might induce country selling the hedge
pressure encountered during yesterdays
session was not burdensome and pred.c-
lions OF smaller receipts were reiterated.
Speculative demand for wheat was
larger. Commission houses are more ac-
, tive and more excitement Is noted In the
trade. As the offerings from first hands
were limited the absorption for public
account was unusually effective In lifting
quotations The conflicting war news de-
TERED bears from selling much. especially
as the time is now at hand when seeding
OF foreign crops should be In progress
and unhampered.
It is understood that Europeans have
taken considerable rye here of late. The
United states production Is only about
100000 900 bushels whereas In Germany
400, bushels are raised annually.
and In Russia the rye yield ranges from
$50. 000.0 bushels e. over 750,000,000
bushels. II can be readily seen therefore
that we have only n meagrc amount OF
rye to spare, and perhaps interests seek
ing this grain will be forced TO accept
wheat
a great deal OF interest was manifest
In the statement OF the Price Current for
an increment OF 10 per cent In the Amerl-
can winter wheat area this season. An
average OF close TO 10000 900 IL sug-
gested. Needless to say this IL record
and the increased area might he euuiva-
lent 20 more than $4,000. 900 bushels
More Southern land than heretofore will
doubtless go over 20 wheat sowing. not
only because OF the attractive grain
values but on account OF the unremunera-
tive returns for cotton. II Is a question
II the United States. after Just producing
an amazing winter wheat crop Of 675. 0O0.-
900 bushels, against the previous record
only Il season ago. OF 524. 0OO. 900. can once
more garner a big yield. OF course the
phenomenal acreage should constantly be
kent in mind
Corn.-The Government about n week
ago told us that the crop would approx
mate $500. 900. 900 bushels against 2,44S,-
100000 IN 1919. Yesterday the Price Cur
rent stated that recent Developments
prompted an increase In their own esti-
mate OF 10000. O00 bushels to grand
total OF .. 100000. 900 bushels. Such "A yield
would he pleasant surprise to many after
pessimsm had been spread by est mates
as low as 1900. 900. 900 bushels. Corn val
ues did not maintain their initial ad-
vances on account OF these revised crop
ideas. but the strength In wheat and oats
prevented much OF "A recession. There
were rumors OF export sales to Norway
and thus the spectacle OF the United
States shipping TO Europe and importing
from South America confronts the trade.
Weather conditions are now ideal for the
cutting OF the crop.
Oats--EXport sales yesterday were
placed at 100000 bushels The ad-
vance In the market is thereby explained.
Speculative orders helped the rise Coun-
try offerings failed TO increase appreci-
ably. although more oats were 10 be had
on the sharp upturn. There was large
trad" In the Chicago pit.
Provisions.-The undertone was strong
on the statistics and with grain Chicago
lard stocks decreased 50 900 tlerces N
the last two weeks. The packing OF hogs
remains small. the total for the pas,
week being 2is.ooo. against 100000
a year ago. outside buying was larger.