The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-26
MUCH IRREGULARITY
IN DOMESTIC WHEAT
Prices Fluctuate in Erratic Fashion, but Generally
Within Narrow Range-Demand Stimulated by
Lighter Receipts and IJnfavorahe Weather

New York, January 25-Therc was
much irregularity in domestic wheat
markets early this week prices fluc-
tuating in an erratic fashion, but gen
orally within narrow radius. Net
changes were in tho main inconsc-
quential. Temporarily at the outset
the drift was slightly downward, which
was attributed to the performance of
bcar1Sh sentiment among speculative
traders. there being little or nothing in
the regular market news or statistics
TO justify any important weakness
There appeared to be as many argu-
mcntS in favor Of an advance as Il de-
cline Probably the most important
factor was calculated to cause strength;
namely, the unsatisfactory weather in
the West, the temperature being high
for the season, the mercury register
ing from IS TO 40 degrees over large
area.
Weather Conditions.
ThawinE weather at this season is
undesirable. as IT may cause the ground
To crack. and expose the roots. This
would cause much apprehension, espc-
come decidedly cold. Consequently, a
heavy snowfall was greatly desired
The downward tendency was checked
temporarily by fairly large decrease
IN the visible supply, 100000 bushels,
whereas year ago there was an in
crease OF G37 900 bushels. Gable advices
nucnce OF moment, although. all things
considered. European markets held up
| fairly well. IN other words. the worlds
shipments were large. including gen
erouS contributions from Russia and
the Danubian region. As we'll as Aus
tralia, Therefore. there WAS huge
i.40S,0O0 bushels, against 2,504, 900
| bushels year ago.
This was Offset partly by higher
advices from Australia, where japan
| has been buying freely. Subsequently
! the offerings became lighter, and, with
demand fairly brisk. all of the early
.l
{, tributed partly TO a sudden fall in the
temperature in winter wheat territory
where there is no snow protection. In
. addition, cable adviccs were more sat
/ isfactory, European markets being In
huenced by stronger advices from
i buenos Ayres consequent upon dsap-
pointing harvesting returns in Argcn-
tina. Hence estimates as to the ex :
portable surplus In that country were
again reduced. the latest placing the
100000 bushels previously and los. 600 :
600 bushels exported last year. II was
also stated that, owing to tho protract-
little, II any. wheat or barley for ex-
port. In ordinary season Chill has n
wheat crop OF about 100000 bushels
While receipts at primary points arc
somewhat smaller than year ago. they
are equal 10 current requirements.
Lnte Rise in Prices.
clear cut form to the market. offer.
ines became light and buying orders
more numerous. Prices moved up to :
higher plane. This was largely attrib
utod to the fact that there had beer
too much unanimity on the bear sid,
In the Judgment OF many experienced
[ merchants the strong undertone wa:
mainly regarded as justified by intrinsic
conditions. The so-called prohibitiv,
premium on May contracts. has disap
peared. and 1t is worthy of note tina
| this disappearance was largcl,
the result Of legitimate Influences
Z While the May has been comparativel!
I weak, cash values have been cores
\ pondingiy strong, premiums havint
Ibeen raised In many INSTANCES. Thi
l seemed to be warranted becitbsc of tn
3Inuch lighter receipts at prim3ry points
= more favorable cable adYlcda, and