The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-01-26
THE GRAIN MARKETS.
wheat scsrcer and Desrer-New
Highs Through the List.

Tho inherently strong wheat situation
was emphasized yesterday in tho register
ing Of new high quotations for this and
many seasons. Speculative absorption
was not the dominant influence. Cash
wheat at Chicago was disposed OF at Iac.
over tho basis OF the May option.
Foreign takings wero given at close to
100000 bushels Moro stress We Id
on the tenacious holdings at farm centres.
II was contended that tho scarcity Of
cash wheat in the country at prevailing
fancy prices was precluding "A larger eX-
port trade. Farmers take tho stand that
tho fragment of their production Is v-:y
valuable and they have been educated
~ ignore the occasional five cent breaks
to which the market has been subject.
The trade In general was affected by
the persistent damage reports from the
Argentine. Recent unpropitous weather
has cut the oats surplus from $4,000, 900
bushels down to $4,000. 900. If the de-
terioration was correspondngly great In
wheat. that country will have only 75,-
100000 bushels to spare instead OF no.
100000 to 1870, 900. 900 bushels as have
been frequently referred 10. The Argen-
tine market has never really acted as
though surplus OF more than 10000, 900
bushels had been grown.
Realization that the statistical position
is shaping very bullishly was made a
topic Of more discussion in speculative
circles. The outside business was not
/ very heavy. however, due particularly TO
the agitation against high prices and tho
I increased interest In coarse grain. IL
Is noteworthy that Chicago September
wheat was quoted at 1l9H nominal
which discount. II maintained. should in
duce farmers to sell as much wheat as
possible for July delivery.
Virtually every point counting in the
visible supply stocks decreased for the
week. The total loss was 2.7Sl 900
! bushels. bringing the aggregate to 3d.
100000. against "a total visible supply or
80 100000 year ago. In addition tho
Canadian stocks were reduced $4,000
bushels and the amount on passage by
100000 bushels. \ heavy decrease I'm
the worlds visible is probable In brad
streets statement to-day and clearances
for the day were 100000 bushels. with
interior receipts down to the basis OF a
year ago AT this period.
Coru--While the full advances OF a
cent were not maintained closing quota
lions were the highest OF tho season.
Sentiment was distinctly bullish in many
quarters. The commission house trade
was active and fresh buying power
readily served TO counteract the influence
of the profit taking sales. Country Of
ferlngs werc comparatively meagre. con.
sidcring the price.
Export sales OF approximately 100000
! bushels did much to instil courage
among holders. Less burdcnsome re-
/ ceipts wcro shown, but large discounts
/ for cash corn continue and stocks showed
| further accumulation. The visible sup
/ ply gained 4.337. 900 bushels for the week
! making the total 1000 0O0. against
/ 10000 a year ago There are opera
| tors who are not impressed with this Wis.
/ ible supply total, however. pointing tc
/ the Developments In wheat despite ar
| enormous visible at one stage.
| Oats--The ad ance TO fresh high
/ ground was on the EXPORT sales OF 1000
| 600 bushels. Canadian oats were rel
atively strong. Speculative demand
was liberal There were claims that Ar
gentina has a surplus OF only $4,000 ,o0C
bushels. against 100000 first reporte,
and 5000. 600 bushels recently claimed
The visible supply was placed AZ 3e,@0o.
O00 bushels. against 3l.S50.OOo wcel
ago and $1,000 600 last year
Prov.sions--LarGo hog receipts re-
suited In scattered selling. Sentiment Il
| much mixed. Further recessions vert
checked by the higher feedstuf levels.
Chicago prices: