The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-20
THE GRAIN MARKET.
Naval War D%epresses wheat-3
Cen Rise Lost.


Cen Rise Lost.
The grain rad is iaboring under the
weight OF suspense and fears. The dis
turbed feeling was emphasized in the
action OF the wheat list yesterday. There
were advances OF more than three Gems
a bushel at one stage. On the supply
and demand situation much higher
levels were said to he warranted. How
ever. the apparition of German attacks
on belliserent and neutral boats was
ever In mind. and in consequence there
were crratic fluctuations in the market,
the final tone being weak.
Some authorities were OF the opinion
mat two weeks would he required before
an idea of the effectiveness of the Ger
nan blockade could bc had. There were
not many holders Of contracts and Of
actual wheat consolcd by this view.
lreSs dispatches were disconcertiug. as
thcy included accounts Of addition II
slhklngs and an announcement from tn.
British Admiralty that travel between
the British Isles and continental Europa
had been suspended until further notice.
The situation was regarded AS very
much strained. 4 theory that losses of
wheat eli route would only add to the re-
quiremcnts was not we'll entertained. II
was Thought that there was "A posi-
biltty of rvselling of wheat by foreigners
who might be disinclined to venture
forth will their vessels under the pre-
Nailing conditions. And there was a
sensitive element in the trade that inted
at complications arising from the inter-
rupted m Speculative holders Of
wheat and some other interests seem
inglN sought protection after the close
OF Yesterdays market by purchasing
puts at from six to nine cents under
the final quotations. The fact that "A
week end was at and and that Amer
lean markets will be closed on Monday
was not lost sight OF.
European interests again contracted
for about LOO GOO bushels yesterday.
II was significant that in these pur-
chases more than 900. 900 bushels were
OF spring wheat. and the Northwestern
markets were \. to | cent a bushei net
higher at the close. The offerings OF
wheat from the Southwestern farms
were once more on a heavier scale, sug-
costing shaker confidence among grow.
ers.
A summary OF crop conditions in the
winter wheat belt AS indicated BY re-
plies from 1900 correspondents OF the
Modern Miller was less satisfactory
than the trade had counted on. Texas
has had excessive rains. Oklahoma and
west Kansas insufficient moisture. Ne
braska has "A large area which is only
In fair condition, while the late sown
wheat In man sections east OF the
Mississippi has suffered winter killing.
Ohio is an exception. having a brilliant
prospect The weather map OF yester-
day disclosed helpful rains IN parts
OF Oklahoma, Nebraska. Missouri and
over a large district in Kansas. and
while there is no cold wave descending
according to present indications. the
bolt Is virtually bare Of snow.
The exports OF wheat and four for
the week from this country and Canada.
as shown In BrddStrcet's, were 1o.22S.-
600 bushels, which was very close to
the record. A week ago the shipments
We're 300, 600 and a year ago 3,1TJ.000
bushels. Since July l the total eX-
ports have been 26i, oo0. 900 bushels.
compared with ls4.oo0.00o a year ago.
Authorities say that the actual ship
ments OF wheat from North America
are nearer 27S 600. 900 bushels. inciud-
ing about $50. 900. 900 bushels OF United
States wheat.
Foreign markets were excited and
strong yesterday Interests abroad
were naturally bullishly affected by the
chaotic shipping conditions. Millers In
England now realize that their pro-
crastinating policy as to the replenish-
ment Of supplies was not wise. The
Argentine shipments for the week were
only 3.lSi. 900 bushels. and since jan
uary I that country has only shipped
5000. 900, against Q 800, 600 a year ago.
although the surplus this season IL
supposed to be more than 0.00o, 900
bushels. against go. 600. 900 last season.
Corn-The list had an early advance
Of about a cent and then felt the ei-
feet of the general nervousness over
the shipping situation. To a large de-
gree values moved in sympathy with
the wheat list. However, there were
some individual features. chief among
which was the rumor that 1000, 900
bushels Of corn had been sold for eX-
port on Thursday. \ furry OF buying
ensued. but the figures were not credited
In any important quarter. After the
shorts had been driven in the market
declined rather easily. Much was made
Of the light farm offerings. but there
were claims that this represented a tenn
porary feature. Exporters appeared as
buyers on tho decline and the aggregate
OF these purchases was given at 400
600 bushels. BrddStrcct's exports for the
week were l.50i."o0 and from July /
total 1J.72i. 600 bushels. The Argentine
crop accounts are not quite so fdvora-
Bile.
Oats-The irregular tendency Of this
market was in keeping with the action
Of the others. The advances were
scored during the forenoon. The export
business was not so active. although
the estimates as to the trade were close
to 300, 900 bushels. Considerable OF the
liquidation was directly attributed to thu
European political conditions. Sentimen,
is now very much mixed. with some
liberal outstanding commitments among
commission houses, according to the
gossip. The farm movement continues
moderately in excess OF that at this
period a year ago.
Provisions-Nalues held better thar
had been anticipated, Shipping diff
culties are n bearish influence here, ~
the speculative long interest has been
reduced. Part Of the support Yesterday
emanated from packing interests. Hos
receipts keep fair.
Chicago prices:
Open High Low. Clos. Prev
Wheat: ing oct eat. ing. close