The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-04
THE GRAIN MARKET.
wheat Reacts-Farm Selling
Corn ana oats Lower.

The action OF the wheat list yesterday
created the impression that the bulk OF
the timid short interest had been forced
to cover during the dealings of Friday.
There were slight advances at the out
set. based on dissatisfaction expressed
over the Western weather conditions,
bur substantial declines ensucd.
Southwestern houses sold wheat quite
freely In the course Of the day. II was
the general impression that farmers
were disposing of more of their wheat.
While there were hower in parts of
practically ali of the winter wheat
states, 1t appeared to he clearing IN the
extreme Southwest. where the earliest
wheat Ia available. Oklahoma city
wired that conditions had turned ideal
and that threshing would he resumed
on Monday If the clear weather con
tinued.
At times the market at Chicago was
very thin and moderate selling orders
had more han their usual effect. Oper-
ations were restricted by the HOLIDAYS
and by the uncertainty as to the
weather conditions, The official forecast
did not suggest an immediate change to
clearing weather over the country and Il
was generally admitted hat a stretch of
dry weather for the wheat in the West
was Imperative. as millers here and
abroad have permitted their stocks to
reach a dangerous low ebb In anticipa-
ton of free new wheat offerings early
this month. Receipts Of new wheat are
really inconsequential. The movement
of all wheats at primary points for the
week was only 2,374,000 bushels, agains.
$4,000 a year ago.
T1e export trade was OF small pro-
portions. Apparently the English houses
had not altered their bearish attitude.
About $50, 900 bushels of wheat were
taken for foreign account yesterday, In
Guiding some old wheat. There were
accounts of excessive rains in the har-
vesting districts of south Europe, bu,
the conflicting tenor of the crop ad
vices from abroad nullifes the influence
OF the ordinarily reliable information
Corn-There was evidence OF beat
pressure In the market yesterday. Some
Of the large operators averred that
the scattered short interest mad beer
driven TO cover by the recent we
weather and that improved conditions
were in sight. Yesterdays map showed
scattered showers in portions OF virtu'
ally all corn States. n further un'
settled weather was forecast. but M
speculative buying Of moment was In
spired.
Argentine corn was weaker and wa
obtainable Mt New York on the basii
Of TAN cents. compared with the 3
cent cost of domestic corn. In SOM
quarters the opinion prevails maj
bullish Government report on July
has already been discounted In tn
market. Indications OF larger receipt
, neUt week induced more or less sellin'
in the late dealings, while considera
bio evening OF accounts over the hoIi
a days was also noted.
! Oats-There was a fair amount Q
1 hedge selling in yesterdays marker
Liquidation for scattered holders wa
: a further depressing ~infiuence. Tn
trade IL expecting a very favorable Gro
report on Thursday. In Illinois TN
condition Of the crop IL said TO De y
. Der cent. Predictions OF larger n
ofrerings were made, based on the out
look for clear conditions in the Soutf
west next week.. Export demand wa
less urgent. with business placed Q
o about $50. 900 bushels
, Provtsions-The market was quiet an
. easter. Not much support was give
|. to the list. II Il asserted that packer
win have great difhculty in maintainin
= values unless peace news Is received I
stooks Of product are immense.
chicago prices: