Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-10-04
MANY FRIENDS FOUND
FOR DECEMBER WHEAT
That Failure IL Expected 10 SELL MA.
tcrinily Higher ON Ever-Incrras-
ing Demand.

Especial to Tho Times. Dispatch,
CHICAGO. October 3.-December
wheat has found many friends in the
last few days. and it is expected 20 sci!
materially higher. At the close yes.
tcrday 1t was only 1 1-2o under the
May price. while during the previous
week il was as much as 3-4c under
anG some of the bulls believe that il
VIII work to a premium. The action
OF September wheat did much to CON
vince the trade that the short side is
a very unhealthy one when stocks are
down to almost nothing. and there are
many who predict that similar condl.
tons will prevail in December that
existed last month. The short interest
in December wheat Is believed to b.,
immense. and foreigners are credited
with having bought close to 2O.OOo0On
bushels Of this delivery. for which they
VIII expect 10 &c; actual grain when
December rolls around. II is true
there is much time between now and
then to accumulate large stocks. but
the manner in which cash wheat has
disappeared up to date Offers little
hope in this respect.
Foreign adviccs indicate Europe is
in immediate need of wheat reserves
are small and the supply now ahoat
is barely enough for two weeks re-
Quirements. The sharp demand for
vessel room and high rates they are
willing TO pay shows how they are Sit
uated Coupled with this is the fact
that tn. mills OF this country will CON
tinue to buy large quantities OF wheat
for some time, yet to build up their
badly depleted stocks and ill orders FOR
-four that they have hooked. and it
is difficult to see how any large reserves
can lie accumulated for many weeks
yet. The winter wheat farmer shows
no inclination to sell his grain freely
being dissatisfied with present prices
and influenced by talk OF a materially
smaller acreage planted this season
Corn has suffered severe losses o.
late. and is down TO a level whore sell
ers will be disposed to go more slowl;
Estimates OF n 5000. OOo. 600 bushei cror
by several of the local experts have
impressed the trade, who generally be
lieve that IL frost holds of for a wcel:
or so the production will be very heavy
Big fodder crops and excellent PAS
lures will cut down consumption %
corn this year, and at present Eastern
demand is being supplied by the cheap
or Argentina corn.
Moderate receipts. continued poor
grading and some Improvement in thu
export demand should offer the bulls
in oats some help hut tho trade dis
plays no great enthusiasm at present.
The action in wheat will do r:uch 10
govern the market. at least until there
ssome marked change in the sup.
ply and demand conditions.
The last week saw much better de-
'nand for cash hog products and large
decrease stocks in all Western pack
ing Ccntcrs. and considerable interes,
is exhibited by investors in the future
deliveries, particularly the January
stocks arc still very heavy, but rro-
vision specialists say prospects are FOR
n larg" increase In the domestic lard
demand and some trade fror, abroad,
rs we'll as indication for a clear. up on
all cured meat stocks in America ami
large increase in the future European
demand on account of the depletion of
live stock herds over all Europc