The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-03
THE GRAIN MARKET.
wheat shorts Observation-Disclosures
stve Rains-Otbrr Wrrkrt. IN.

"VTHtNa sps
The attention of the wheat trade was
focussed on the July delivery at Cru
cago. II was believed thai there war
L large short interest despite the recent
cjNc'ing movement which hai added
anout IL cents q luslcl to its basl :. Tnc
olt.on scared about 3 cents yestcrl. ;.
although other months gained on'y abou,
iig cents per bushel.
1t Is understood that all the contract
wheat at Chicago has been sold for
quick shipment. Under the circum-
stances there should not be any impor-
n pressure OF tenders on contracts
for days. There Is ak OF 81. 25 for the
July unless the weather turns clea. and
.emains so for n reriod OF a wees or
more.
The further showers in o~klahom,
Kansas, Nebraska. Iowa AMI the OHIO
NaHey states did much to. st'r ~ ,i,-
r~rehension among shorts. Some sisni. .
canoe was attached to the reports indi-
eating that the new wheat arrivals were
not grading high enough to permi. Of
their delivery on contracts. Tiis .fodcr,
htner said that resent rains ar storms
had inflicted damage on the winter
wheat In practically all pre- ducir,
States.
Numerous stop loss orders were
reached yesterday. but the fresh buying
Tor speculative interests was not con-
siderable. Several of the commission
houses reported their customers desir-
Gus OF curtailing commitments because
OF the holidays at hand, although there
Will be regular grain market sessions to-
day. The accumulation OF new wheat
crop contracts in the Chicago market
was discouraged by the opinions Of ex-
perts that the winter wheat yield as a
whole was not being reduce: appreciably
ana that the spring wheat prospects on
both sides of the line were better than
the normal. A few complaints OF low
temperatures were again received from
Northern spring wheat sections, how
ever.
Houses In close touch with the mill
ing situation were dwelling on the i'm
proved Hour sales. II il reasoned that
Hour consumers have flowed their stocks
to become depleted. their action hay.
ing been governed by the prospect OF
q free and early movement of new
wheat. Milling interests have been dis
appointed in this respect as have many
spectators who were not inclined TO
accept the possibility Of a wet harvest.
On the other hand. the foreign demand
mas not sprung UP in the quantities
expected. Export takings yesterday
were only about 400. 900 bushels. A
year ago the trade was selling abou,
a million bushels daily, and more wheat
promises TO be available his season
than last. The Bradstrecf exports for
the year show that the United States
exported about 340. 0OO, Oos bushels OF
wheat. against l43. 00O, 900 in l9l3-l4,
while Canada shipped s $4,000. 900, asains,
ll5.Oo0.000 in the preceding season.
Corn-The forecast for air weather
IN All states with the exception OF Kan
sas and Nebraska and the report of in
creased country offerings did not prevent
the list from making a fair response to
the upturns in other markets. More
showers occurred yesterday over much
or the belt. There were private wires
telling OF rains falling during the day in
sections OF Oklahoma, Kansas and III
nois.
tina the crop has a poor start is
generally admitted and the Government
report on July 5 Ia likely to be bullishly
construed. The area has been sed
IN the south. but this feature Is more
IMAM counterbalanced by the scattered
quarters the assertion was made tina,
the speculative demand yesterday would
nave been OF larger proportions but for
the independence Day HOLIDAYS. The
frequent cheap Argentine offerings al
New York also tended to limit the specu.
lative demand.
oats-The July position at Chicago
showed pronounced strength In refcc,iou
OF the scarcity OF old oats and the con.
tinued Inquiry from domestic and FOR.
eign sources. Export takings yesterda y
were figured at $50. 900 bushels. There
was hedge selling at the upturn in the
far on months, which largely satisfied tAe
SORTS. Less rain Is desired. so tina,
harvesting work can be completed with.
out impairment TO the quality of the
big crop.
Provisions-The Chicago stock state
ment, showing heavy product holdings o,
the centre. caused further liquidation for
a time. Offerings were we'll taken. how.
ever. The opinion was prevalent thai
July liquidation had been largely com.
pleted.
Chicago prices: