New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-01
COURSE OF WEEK
IN COMMODITIES
Closing of May Deals Dis
turbed MarketS-COffee
Conditions Better.

Wheat, corn and cotton markets were
somewhat disturbed in the week just
ended by the closing out Of the deals in
May options, which had 10 be settled by
noon OF Friday. owing to the holiday
Saturday. In wheat the option held at a
good premium over July. and shorts were
troubled at times over the possibility OF
fulfilling their commitments. Bearish
sentiment was in the sscendancy In the
early trading. as all the prospects indi-
Gated a record breaking harvest OF winter
wheat, With correspondngly large receipts
expected when the crop begins TO move.
The chances Of deterioration causing a
loss Of 100000 bushels from the orig
iral high estimates we're discounted, as
il was figured that even that loss would
still leave the largest crop ever harvested.
In the late trading there was consider
able feverishness, with a weakening ten
dency on new crop contracts and nearby
deliveries comparatively strong. Inc
oklahoma State report said that the con-
ditlon OF winter wheat was % per cent
and that nothing could prevent the largest
crop on record being harvested. Caole
sdvlces averaged strong and steady there
were persistent rumors Of a good export
business. and Broomhall estimated WoiIu
.rnorts for the week. exclusive OF North
America. at S.4OO 90 bushels, which, with
Rradstreet's American figures. maze
worlds exports l4,l5sooo. against l5'0oz'Vo'
for the previous week, and H.lI6,O00 last
year There Is considerable anxiety about
IN. course Of prices in the coming weeN'
and many traders seem TO expect 4 ue-
cline now that the supporting influence
~ the MAY option has been withdIa"h.
uybue there was considerable slackening
~ interest among spectators in the corn
market for the week. rush OF shorts 10
cover in the late trading caused sharp
unturn in the May option. with little II
any strength on either side IN the moro
distant deliveries. Price changes IN the
General list we're small, and caution
s,e,red TO be the keynote OF the market.
shorts are not enthusiastic. as II Is known
that stocks are small and Argentine ooi-
ditions are not the most favorable
puIls at the same time. realize that the
high cost will IN all probability check con
spn,ntion and in this they are dououess
correct cash corn at the close OF the
week was 6 cents bushel over the price
~ a month ago. and 10 cents above the
nrics OF a year ago. for No. mixed
This. in itself. explains much OF the
cautious feeling on the bull SIDE OF the
market on the whole the market seems
- be in waiting position. with the
weather and crop conditions both here
and in the Argentine the ruling influences
oats practically reversed the course OF
the other grains the May option develop
ing weakness while the distant positions
,,er. inclined TO be stronger. Last trades
we're At considerable decline FOR the
spot position. and the strength In otner
ontions appeared TO be based on the fact
that the crop was apparently getting a
moor start. owing 70 weather conditions
Pric. changes. however. were small al
though the close was at an advance OF >
c.nts bushel over the price month