The sun., 1915-03-06
THE GRAIN MARKET.
Cash wheat strong-Optious Break
Coarse Grains rrrexuisr.

Coarse Grains Irreguiar.
The complete revulsion Of the wheat
sentiment was demonstrated forcibly
YESTERDAY. There was chaos during
the entire day. II was surprising to
note the effect Of the rumors and the
light respe- paid to the facts. There
was Al endless stream OF selling Or
ders coming through commission houses.
started to some extent by rumors that
Austria was suing for peace.
Values were lowered from three to
four cents a bushel. These declines In
themselves were not surprising. In view
OF the prevailing uncertainty, but com
ing after weeks of melting quotations
caused sober Judges 10 ask II under
lying conditions had changed sum
ciently to warrant the readjustinent OF
about SO cents a bushel Seemingly a
considerable part Of the liquidation was
OF compulsory kind for spectators
who did not nccessari rily believe the
peace runors but who had to release
their wheat In absence Of sufficient
marginal funds
The leaplng and plunging OF prices
furnished the trade with continuous
excitement. There was no special
stcadness displayed until near the
finals. Quite a little support was rem
deied then for operators aware OF the
enormous export siemand for wheat
and partly for outsiders advised Of
impending bullish Russian news Il
was singular thai the new crop months
were the strongest despite ono OF the
best weather maps OF the season. There
was snow and rain over practically tho
entire winter wheat area and the crop
reports were uniformly excellent.
In confic- with the Seace intfna-
tions came foreign inquiries for wheat
amounting to several millions OF bushels.
Exporters confessed much trouble in ap-
peasing this demand because OF the to-
nscious holding by farmers Premiums
were Increased throughout tho country.
Some OF the comparatively big prices
bid for actual wheat failed to draw out
offerings equal TO ths amount desired.
Nevertheless. thsre were close to 2.00o.-
600 bushels actually sold 20 Europeans
and a this late date such a quantity
was looked upon as being more import
ant than business Of 1000, 900 bushels q
month ago virtually. the whole OF our
surplus has been sold according TO we'll
Informed people.
on Thursday the trade was anony-
mously informed Of war orders having
been cancelled and tho market was
heavily sold on the report. Definite news
came 10 hand Yesterday Of the allied
governments placing orders IN the mid
de West for wagons and tho like. hut
little notice OF such statements was
taken Thus the mood OF tho trade was
further vsuallzed. And in this same
temper. operators attached much sig
niicance TO declining foreign values,
Although Il is generally conceded that
the markets OF the world have really
been following the American tendency
for some time. There were Argentine
wheat shipment. Of 5lsO,00O bushels
for the week. bu: this was expected
The exports from North America were
S.433.O0 bushels FOR the week, with $50
100000 bushels since July l, against
lsl 100000 n year ago. Close 10 24O-
100000 bushels have b. en- exported
from the United States 70 thi. date
Corn--The net change In the nar-
ket VAS trivial Sentiment was much
confused. however. and there were un-
decided price movements TIE big
wheat dec'ine' induced considerable
nquidation. There wa. further bear
aell'nR based on TIE large stocks IN
tho VISIBLE. The setback resulted in a
fair export business and there was also
outside buying on the country Rdy1ces.
II was stated that farmers were disin-
c'ned 20 sell ri prevailing prices and
that IN. wet weather through the coun-
NIS IlFl blllN ufldN 1Ug TTS IflONs-
ment but also increasing the feeding
B-ndlS're"t's exports for 'he week were
o.s15. 900 b,ishela and 10. 600. 900 bushels
since July l. agatnst 1000. 900 year
ago These exports and the greater
home consumption are oNsetting the
larger production. as compared with
last year. inadequate Weld
Breaks IN othe- markets had
syTnpa-h~t'c effect. TAqrdat.on was
very heavy az -+uc, Export demand
was Ia re, however and the absorption
for cash houses served 20 rally the rs;
substantially be'or~ the aess'on ended
The export bus ncSs vas given M about
! 500 900 bushes. Sentiment was very
much m'D~d, due 20 mo conflicting 10
lt,cal sdv1ces
Provisor--A better cnsh trade and
! a stead,er Noc market induced short
covering early Tho declines IN the
grain list brought about larger orfsr-
lngs, bu, prov sion values held com
para lively wed. Large rl'Crts were
thought - 10 among tho huyers