The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-25
THE GRAIN MARKET.
Export Demand Raises wheat aud
Oats-Lcss Liquidation.

The wheat situation was regarded as
stronger. There were very fair net adj
vances for the session, with a good
undcrtone displayed at the finals. No
special excitement was observed. The
absorption for exporters again con-
tributcd largely to the three cent bulge.
Approximately a million bushels were
disposed OF to foreigners. with some
larger estimates heard. Scarce freight
room OFFERINGS and desrer insurance
costs again seemed to stand in the way
of y more active export trade.
Heavy margin calls sent out 10 COM
mission house wheat holders on Tues
day night were responded to more
readily than had been expected. As a
result there was not the anticipated
quantity of unloading for outside ac-
count. Interests who have been oppos-
ing the advances recently on the dis
rupted shipping conditions were inclined
to accept moderate profits. although
there wac no important change in this
chaotic situation. A report that six
other boats had been sunk yesterday by
submarines or mines occasioned a wave
of liquidation at one stage or the Ses-
sion. but this depression was checked
by the accumulation of contracts for en-
port account and by the dispatches from
Washington official quarters that sug-
gestions have been advanced to foreign
Governments looking toward a clearing
OF the dangerous ocean lanes
The fact that the Liverpool market
did not reflect the slump registered In
domestic markets on Tuesday was taken
TO indicate that English concerns were
stlll keenly after supplies. There were
advices to this effect and also some
adverse crop account from Argentina
and Italy. in which countries excessive
rains have fallen. Authorities are now
conceding a surplus for export in Arger-
tina Of not much over s5.000.000 bushels.
against maximum estimates OF more
than 40, 900. 900 and recent guesses of
about 100. 600, 900 bushels
Conflicting advices were again AZ
hand as TO the volume OF selling for
farm account The price is less at
tractive to the grower, but the ncr-
vousness over political affairs and the
improved crop conditions in the SOUTH
west are other factors that are being
considered by the actual holders. Rains
and SHOWS have fallen over a large
Southwestern winter wheat territory
where precipitation had been deficient.
Statistics of the day were not IN
Nuential in any OF the price move
ments. The unusually small clearances
of 10000 bushels are likely to be fol-
lowed by heavy shipments to-day. The
farm movement thus far this week
shows only $500. 600 bushels. against
3.lSl, 600 "A week ago ana 2.460, 600 for
the tire" corresponding days OF last
year. BrddStreet'S visible decreased
slightly and the domestic holdings are
81 1000. 900 bushels. against $1,000. 900
las; year, the Canadian. 81. 200, 900.
against $4,000. 900. and the European.
- nm a -,a.f L . ann N N N
in 1914
Corn-The action of the list was more
encouraging to holders, Much of the
buying, however, vas believed 20 be in
sy mpathy with the strength in wheat.
AZ the same time Il was generally con-
coded that the technical position Of the
list was less vulnerable than for many
weeks. There were assertions that large
shorts were disposed TO cover. Scattered
export sales were traced, with many
rumors OF good export bids in the mar
ket the country movement was lighter.
Evidence was al hand ~ reduced farm
offerings, resulting from the gradual
drop OF about 10 cents in tho values.
\ part Of the days rise WAS lost in
the late dealings. AZ ii other markets.
the nervousness over me shipping s.tua-
ton has ~; been dispelled. and specu-
lation - held IN check More favorah'.
Argentine crop news was received. n
foreign markets were under pressure.
du" TO FREQ offe"ings from that com
try, but from tn" standpoint Of "a Euro
pear buyer American corn is preferable
on account OF price and quality.
OArs-Another large export business
was put through during the day. Prices
were shs rply higher in consequence The
demand from cash houses was persistent.
Estimated foreign takiugs were 900 600
bushels. Profit taking served to lower
quotations slightly ~ tho late trade
Predictions OF a ~dim.uution IN the farm
movement were current
PRovIsioNs-Packers and shorts bought
provisions during the early trade. Sub
scquertly the dea,!rgs became more
mixed. A higher grain list helped sent!-
ment. as did the more moderate. hog
movement.
I'll..n q nr--nr-