New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-02-23
REVIEW OF THE
CROP MARKETS
Grains Firmer and Higher
Rally in Cotton
Coffee Lower.

Trading in wheat Increased In the,
week, sentiment developed a more h,r,..
tendency and with ligh. receipts and 4.
creasng stocks and more news tro-, q.
Argentine favoring holders the r,,,,,
took an upward turn. The foreign Mr.
kets were all stronger. although III. A.
vance in Europe was checked BY :.
creased supplies from Russia, .fhes. ~.
setting a decrease in North An.r,r.,
shipments. While the Argentine surp,..
is now estimated at only 5000. 60 bu,a.,.
It is generally accepted that Australia ana
India will also show material deficit "a
exportable supplies. Another incentiy,
toward asking higher prices on the part
Of holders has been liberal purchases BIZ
millers. who have found an increasing DE-
mand for -four, including some export
business.
The advance in the local market va,
kept within reasonable figures by the q.
tremely favorable weather condition. In
the winter wheat states and the remarss.
bly, bright crop outlook although II
well known that crop CONDITIONAL tins
early date are an unsafe guide. In View
Of present market conditions It u sell 70
note that the expected large decrease ia
the worlds supply last week turned on,
TO be disappointing. the drop being oniy
$1,000 bushels. while the worlds stock Il
at present ac,o27ooo bushels. agalns; ~.
$4,000 a year ago and 10. 80. 90 two year,
ago. indicating that for the present al
least, there is no scarcity OF wheat
Part of the advance II corn las bet
credited 70 sympathy with whea, ard
part 10 an oversold condition. WhaIeyef
the cause. the advance has not bean M.
portant in its net results There have
been a good many buying orders, ana
offerings have been comparatively small
with a stronger feeling and ADVANCING
premiums in Western cash markets. Cot
sumption by farm animals has been y.
creased by the recent cold weather ara
this has aided the hardening OF the mai'
ket. Contract stocks in Chicago are w.
90 bushels, against $3.50 bushels y''f
ago.
Oats have followed their usual p'o
sramme Of rejecting conditions IN ONE
grain markets, with the cash trade is19
active at firm prices at times. "hl'
farm reserves are said 70 oe S"""''
bushels smaller than they were %"
ago. contract stocks in Chicago are 80
Geo bushels. against 1900 a year 1'
with the available supply hoo'"" o-'H
els. against 100000 a year ago.
Outside speculation has been almost
tirely lacking. and the cotton mans
ruled dull and heavy I'm the early ualH'
with prices declining. Wall suee' w
ing on Wednesday checked the slump. q"
was followed by an advance wnich o"''
shorts to cover on Friday. The adysna
however. brought out lot OF co''o"
liquidation, and there was a drop o.
points from the top before the close
There IS no doubt that there Is SUI
heavy short interest In Marcn eonu~
held by outside operators and on o'ss
ern and Liverpool hedge sales. WIZ
long end under control OF local sp''
terests. Weekend figures OF sp'nn"
takings on Friday were somewhat 49,
pointing, but after the compas,
steady ruling OF Southern spot MARI.
so far this month many traders oeN.
that the mill demand for March sn'p"''-
will serve TO advance prices.
II is held that the situation WI"
prove on a better demand for 10" So
cotton. due 10 the scarcity OF whi,e
ton of good quality. Possibly o"'ns
the fact that members OF the Ne"
Cotton Exchange have decided TO cns,s'
existing contract methods Win INC
ginning OF next December, ana p''
because 81 the agitation against
York for several years. the present ~
tract system is in some quarters -.
cred responsible for state OF -.
which must naturally be TO the o'
vantage Of people who have he's~
eraiions In high grade cotton IN "'
tract markets. ..r
There has been nothing in ue w"
from Brazil regarding crop or soppy ID
ditions or the state OF the Oo"'"s "a.
10 encourage holders OF ~
here. and the market has been q'.' -
donressed. with futures dechhhs
OF March contracts al u'''.s
feature OF the trading. The heavy 80
ment to primary points in BRAN s.c
has reached more than u,op" -
against less than 100000 year AZ"
served 10 check speculation and 80
spot buying 10 immediate aho .os-
needs. In the last trading Ma''" 20
tracts sold off 10 Ss2c, the lo"e'' 20
reached since the advance OF ifs' ~
bor when that delivery touche' ~
This price was not a new 10" 'eN0 =, Al
the season. as March contracts 81" ~
8 zoe on July O. 1913. or shortly S'''
openins OF the present crop year 40.
In the country produce markets -
has been considerable hrmness M
holders and receivers OF good "!
stock, and the delays in delivery "A
by the storms caused some Temporal "A
vances owing 10 shortneSs OF ss,s
Apples. especially the good table 's. .,ss
have increased I'm price. but re" -
OF Importance have been noted III VI. IA
eral list OF vegetables and sn'au
Live cattle and dressed meats con'a =,
advance by small amounts. althous"
lilies appear 10 be ample. The s
trend OF the spot wholesale ms'"'s.
the week was upward. with hr"'h' ~
tone the rule. the few reactions oe'"s
10 only temporary causes.