The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-17
THE GRAIN MARKET.
wheat Finishes strong-Big Ex-
port Trade-Loap Rumors.

The export business IN wheat yester-
Gay was in excess OF a million bushels.
Ihere were more inquiries in the market
tnan Tor weeks. II can be stated on good
authority that the foreign takings on
wednesday were underestimated, there
ocing close to a million bushels sold in
that session.
The frightened aspect OF the export stu
ton led to rumors OF impending favor
aoie developments relative to the flota-
tion or the big foreign loa here. 1t
was minated In some quarters that
sanguine advices were passing among
exporters. Some significance was at
tached to the conference OF leading grain
exporters at Chicago yesterday. at which
general export problems were discussed.
a rather c~onservatively bullish senti-
ment has been formed again In some i'm
portant wheat circles. Large traders
say they are averse to selling the mar
ket short until the tension OF the cash
wheat situation Is relieved. 1t Is ad-
mitted that there is plenty OF wheat to
go around, but successful arrangements
or credits on this side might immedi-
ately stimulate the export trade and
further tighten the various cash wheat
markets.
No. 2 red at Chicago sold at II cents
over the September delivery yesterday
and low grades were also at an un-
usual premium for the period Of the
season. Unless considerable wheat Is
sent to Chicago very soon there will
nave to be a reimbursement between the
September position and the cash wheat
levels. A few million bushels of spring
wheat are en- route for Chicago, but
such a quantity will hardly obviate the
chance OF a squeeze OF the short inter-
est. At all events, many who hold views
or ultimately lower wheat levels would
De pleased TO note measurable accumula-
tons in the visible supply.
The markets advance of yesterday
was really registered In the late deal
ings. Previous to that stage there was
much irregularity and a feverish under
tone, with evidence OF large and small
interests trading or both sides Of the
iist. Central and Western winter wheat
states light to heavy rains, which
brought about a further delay In the
farm movement; but the conditions in
the Northwest gave little cause for COM
plant. and the forecast was for settled
weather over the entire grain egion to-
day.
Interior receipts so far for the week
total l0,f36,OO0 bushels. against 1850
OOO last week and 1880. 600 a year
ago. As the shipments were 500, 600
bushels, 2,654,0oo and 100000 bushels
respectively no important visible supply
gain Is foreshadowed for Monday.
Corn-The changes were fractional. \
disposition Is noted in some quarters to
await the weather changes OF the next
W weeks. A heavy frost before Octo-
Der would cut the crop down consid-
erably. Support yesterday came prinol-
pally from the short interest The up
turn in wheat had sympathetic influence.
with offerings further discouraged by
the complaints that the wet weather in
Nebraska and Iowa delayed the matur-
ity OF the crop. An official forecast for
clear and somewhat warmer conditions
over the belt n to hold down the
outside speculative inquiry. Argentine
offers at New York are out of line. as
Shipment cannot be made from .Argen-
tina TO compete with our Old crop.
Oats-The receipts were below expec-
tations and the hedge selling was lighter
than was thought probable. Quite a little
short covering was noted. especially In
business ard the upturn in wheat We're
stimulating influences, while the wet
weather In the West came in for nue.
attention.
Provisions-The fact that stocks at
Chicago declined only slightly for the
half month caused disa ppointment among
speculative holders. Support from pack
ers was not especially good. Heavy con-
fiscations of meat cargoes by the British
Government were looked upon as against
fresh export trade
| ChicaR 20 priCas.