The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-09
THE GRAIN MARKET.
" heat Break. Z 10 u trnts-Crop
and Politics Ueprcas.

TIE pessimis;ic feeling after the clos.
OF Fridays session was in;-ns ned yes
tcrday. Wheat was poured on the mar
kct from many quarters, resulting In
staggering weakness and heavy opera
lions.
The liquidation was obviously The re-
sui; OF the crop outlook. Country in
t-res;s seemed NOR. anxious TO sell after
having been informed that the Govern
ment estimated the winter wheat prom
ise al close 10 zoo. OO0. 600 bushels. Such
total would not he far ahead Of last
seasons mammoth production, but com
pares impress. vely with the preced ng
record Of ga. 0OO 600 bushels.
An average Weld on the immense
American and Canadian spring whea;
areas would suggeet an exportable sur
plus from North America Of more than
100000. 900 bushels. The worlds import
requirements are nominally $4,000. 600
bushels, not taking into account the EN-
barge against Germany and Austria,
which lowers the Imports by more than
100 000 900 bushels.
Argentina. Australia and India could
easily contribute lN0.00o,00O bushels Of
wheat 10 the eXportable SURPRISES.
which combined quantities would seem
sufficient for all requirements. qui1e
aside from the possible exports from
Russia, via the Dardanelles. ArchaUEel
'or Vladlvostok.
Political conditions had an adverse
effect on the list. The activity Of Ger
man vessels in their destructive cam
paien was OF continued unsettlng in
fuence. although il was learned in
steamship circles that there would not
he any important changes In sailing
schedules. The inference was that ex-
ports OF grain would proceed, as has
been the case recently.
A rumor that Italy had declared war
on Austria brought about heavy sell
ing for Spectators and further en-
couraged operations from bearish groups
This unconhrmed report was supple
mented by a cable telling of the seizure
uf Turkish possessions 10y Italian forces
II was evident that the trade was more
or less dsmoralized and readily re-
sponded TO items of price lowering i'm
port.
Exhaustion OF margins explained much
of the selling. The fresh outside sup
port was not OF an encouraging kind.
although there was persistent SHORT
covering for some OF the large inter-
ests who were imbued with the idea
Ina, as soon as the shock OF the Lust
he resumption OF the foreign buying
Export takines Yesterday We're not
large. II was explained that compa ra =
lively few cables were at hand from
the other side, partly because OF the
latest political developments. Private
advices from English points made Il
apparent, however, that much recogni-
ton was given to the brilliant crop out
look in the United States.
Corn--The recessIons OF cent a
oushel were again ascribed mainly to
the big drop in the wheat list, Com
mission house selling was heavy at
times. hut there did not appear to he
the extended long interest in this grain
that was so noticeable in wheat II
was averred that country houses were
selling larger quantities, presumably in
reflect On OF the crop outlook.
All OF the corn belt has received copi-
uus rains and with the presen, clear
ing conditions in the West the COM
pletIon of planting il matter OF a
week or so The best support seemed
to come from the snort interest. There
was also a fair amount OF cash house
buying
Export demand was not urgent, al
though the markets abroad were very
steady. The weeks interior movement
was quite heavy and consequently the
estimates were for slight decrease
in the visible supply statement to-mor-
row.
Oats-ConsdcrinC the drop In other
! markets and the nervousness over the