The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-17
THE GRAIN MARKET.
wheat Reacts-Lsryev Receipts
Other Grains Decline.

The excellent weather man greatly en-
couraged the advocates OF lower wheat
values yesterday. A steady dribble OF
selling orders precluded a rally OF mo-
ment. There were numerous predictions
Of larger receipts and a further lower
Ing Of wheat premiums and quotations.
The larger farm offerings through the
various cash houses were a natural re-
spon o to the generally settled weather
over the winter wheat area. He,ge SELL
ing had material influence In undermine
Ing the price list. II was significant
that the wheat receipts for Chicago were
estimated at 1.t0O. 600 bushels and the
total interior movement for the day
might easily reach 5000. 900 bushels,
against the recent average OF less thar
] .0o0.0 oo bushels and the daily totals a
year ago OF close to 2.500. 900 bushels.
Exporters And shorts checked the de-
cl'nes In the market. Although the fore
cast did not suggest an immediate
change IN the suitable weather condi-
tons. there was 4 Gulf storm. and Il was
feared that the rains might work north
ward through the wheat States. The
foreign absorption was MAZE possible by
the decline in the list and more so by
the marked lowering OF premiums for
cash wheat. Buying for interests abroad
was PLACED at about 1000. 900 bushels.
II was agreed that the chaotic con-
Hilton In the foreign exchange market
were In the way OF the export trade and
dealings are rem cred hazardous be-
cause OF the constant Expectations noted
In the exchange rates. Grain exporte $
figure that losses OF about four points
In thA haSfa 80 ,. -.
10 more than a cent a bushel on wheat
contract. 1t Is very difficult to sell graln
and other bills dated more than q week
ahead.
tn sentiment In the wheat trade re-
mains rather bearish. Radicals are re-
strained. however. by the slow accumu-
latlon Of supplies. The visible supply OF
wheat increased only l4l 1000 bushels
yesterday. The total is only 400. 900
bushels, against $4,000, 900 bushels a
year ago. Before long the big spring
wheat crop will compete with the win
ter wheat yield.
Corn-The moderate declines Of yes
terday were largely In reflection Of the
wheat depression. Traders were in
clined to hammer values. II was o.
vious, however, that the prevalence OF
favorable weather conditions was a fac
tor. The crop is maturing rapidly in the
| tcntTai anu EdstcTn SthteS anu u was
again averred that a big yield would be
seen In the West IL the frost date IL
not early. A limited cash demand was
against values far a time. but, on the
other hand. there was no selling pres.
sure Of Importance from the country.
Oats-Cash values were lowered as
much as 4 cents in some instances
Larger receipts are expected. Yester'
days movement totalled 1890 0
bushels, against $4,000 last week and
1900, 900 q yea ago. There was con-
siderable hedge selling during the SEES.
sion. but finally the support from shorts
caused a fractional rally. Rumors OF
export business were current and credited
in well Informed circles.
Frovisions-The market was quiet un'
I'll near the close of the session, when
selling pressure developed on vague re-
ports of ~unfavorable rulings concerning
exports OF hog products. Support In
the list was unimpressive.