The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-09
oRN CONDITION IN PRINCIPAL STATES.
SPRING WHEAT CONDITION IN PRIMO
PAL. STATES
THE GRAIN MARKETS.
Government Reports Record Crops
Figures Criticized.

Certain operators took ii upon them
selves to offer Chicago wheat at about
J.. cent under the official finals after the
government hgures had been posted. The
bearish construction placed upon the
Government report as affecting the i'm
mediate market was believed to be with
out Justification In some quarters, how
ever. II was conceded that a record
crop mas been grown, and this ~produc-
Won in conjunction with the immense
Canadian yield should eventually fur
nish plenty OF wheat for all. out il was
not thought that the final estimates on
the home crop would equal the 9sl, OOO,-
900 bushel yield forecasted Yesterday.
Criticism was directed against the
winter wheat estimate OF $50. O0O. 900
bushels Apparently the Government
merely repeated its findings OF a month
ago. As "A matter of fact for the past
six weeks the Governments weekly
weather bulletin. yesterdays not ex-
cepted, told OF excessive rains causing
important losses to the winter grain.
Some experts have placed his deterio-
ration nj sufficient proportions to bring
the winter wheat yield materially below
h 500, O00. 900 bushel mark, as against
the record OF 6S5, 900. 900 last season.
ii the Government had made any re-
VISION IN the winter wheat estimate the
total crop as indicated yesterday might
have read about 925, 900. 900 bushels.
against fhe popular guess of over $780,
600, 900 bushels and SHOWS claim OF
zoos. 600, 900 bushels. The spring wheat
estimate OF 322. 000. 900 was not really
as high as looked for. although II is
116,OOO,OOO bushels more than the actual
OF a year ago. Under the circumstance
II was not surprising that some op-
orators were not in sympathy with the
oearlsh Interpretation many of the West
erners presumed to give the statistics.
Yesterdays market was higher most
OF the day, although the gradual eliml-
nation OF shorts and occasional hedge
selling reduced the early sharp advances.
Northwestern markets were relatively
strong, due TO the general showers in
American and Canadian spring wheat
sections, The rise in cash wheat pre-
miums Of one to three cent also helped
NalueS Receipts are still d%lspropor-
~tionately small when placed against the
crop and last years movement,
especially when II is considered that
there have been big premiums to attract
wheat from farms. Since July the
wheat receipts at all points total only
100000 bushels. against $4,000, 900
a year ago,
The export business Yesterday was
placed at 500, 900 bushels. Market ad-
vances here were said to have been
against a more satisfactory trade.
Corn-Bearish crop ideas had much TO
DO with the lowering OF values yester-
day. Selling came from discouraged
speculative longs, country interests and
bears. The Government estimate was
FOR "A crop OF 1855 900. 900 bushels. so
the bearish hopes were fulfilled. A late
frost would probably swell the crop to
materially above the three billion bushels
mark, against the outturn OF 2,G72, OOO.-
600 bushels a year ago and the pre-
vious record of 3,l2i,00O 900 bushels.
The Price Current estimated the produc-
ton in the surplus States at 800, OOO.-
600 bushels above that OF n year ago.
Leading Western cash houses are still
talking of much lower corr prices, be-
cause Of the crop outlook and the ex-
pectatlon of "A reduction OF more than
400, 1000 900 bushels in the feeding de-
mand for corn.
Oats-While the official crop fgures OF
LAOS, 0OO, 900 bushels compare very bear
ishly with last years showing OF l.14l,-
O00, 900 bushels and against the record
Of l,4ls,000 900 bushels, the estimate
was close to 100. 900, 900 bushels under
some expectations. There was some COW
ering OF shorts yesterday on fears OF a
surprise OF this sort, but the market
vas generally unsettled, due to the
hedge selling, corn declines and quiet
'ng ~ the export demand.
Provlsions-Small net changes were
shown at the close support came from
packers whenever the undertone seemed
weak Fair hog receipts were reported
for the day. and large stocks Of product