The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-22
THE GRAIN MARKET.
wheat Closes Higher After
Chsppy sesston-Corr Firm.

There were at least four distinct
movements In the wheat session or yes
terday. A variety OF news wns at hand
and the quotation list swayed accord
ingly. The sharp losses at tho outset
were in reelection of tho reports that
land and sea forces were on the verge
Of attacking Notifications Of the OAR
danellcs. Liquidation was also based
on tho unexpected rains In parts of
Illinois and Indiana.
This setback was soon recovered I'M
der tho lead Of the Chicago September
position aud tho Northwestern markets.
There appeared to he belated speculative
buying. possibly induced by the urgent
foreign demand " the previous day and
the outlook for a crop scare. 1t was
the impression that foreign houses were
again absorbing futures, but a searching
inquiry made il evident that foreign
houses were also selling.
Many OF the large operators In the
wheat market were swtching. These
stfaddle operations were representative
Of fresh trades In instances, while In
other cases switches were being un-
done. Dealings OF this sort AFFORD
plausible explanation for the divergent
price changes often witnessed In the
various markets
II was in tho afternoon that tho
market relapsed again. A few OF the
largo cash houses were kept on the
selling side. suggesting freer country
offerings from isolated sections. TO
this period there had not been any in
dication OF an important export bust
ness. There came to hand reports ind-
eating that Italy was about to enter
the war. with a decision OF this Kind
reached. 1t was stated. after an all
night session OF tho Cabinet at Rome.
Gencral commission house selling devel-
opcd on this news. as tho trade had
come to the conclusion that the par'ici-
patton of more nations on tho sids of
the Allies would tend 20 shorten the
struggle in Europe.
Private advices thar further showers
were falling In the winter wheat district
east Of the Mississippi and assertions
that the plant would respond readily to
this precipitation also accounted for .
part Of The liquidation. Practically all
the winter wheat region. Ohio particu-
larry excepted now has surface moist
urs and . great majority Of the States
have very fair supply Of subsoil moist
ure The May Government report IL az
pected to display q comparatively high
condition Of the plant and an O ba ndoned
acreage OF less than 1000, 900 acres.
which loss would really be low record
In view OF the immense area sown.
The close of the market was very firm.
II was said that the break had per-
mltted moderate export transactions.
Tho foreign taklngs for the day were
placed at more than 100000 bushels.
including purchases OF new wheat. and
there was evening M for professional
Of lad IA p
ish, but not anxious to adhere TO their
position over night.
Other items OF interest during the
day included private estimates Of an
Argentine eXport,ble surplus Of so 000,-
600 bushels. against recent estimates OF
9o,000,00o bushels and comparing with
tho early discredlted official estimate Of
IA 900 900 bushels. The clearances yes
t-rday were in excess OF 900. 900 bush
els and. due TO the tremendous ship
ments through the lakes from Duluth.
another big decrease In the visible sup
ply statement for the week is locke
for
Corn-The nervousness Of the short
interest WAS further exemplifc,i by tho
active buying OF corn during tho early
part OF yesterdays session. At about
the best levels of the movement there
was an increment OF country offerings
anu uu'.o a n,''v p.omt 'aNus 'oI Sp''.
lose It's steady undertono. The dcpres-
sion in wheat at times also served to
uuee .ne az. aiVes anu encourage
o."' 'rn w, "t'oi'S aiio't ProlesS'oHaIs
80 tle s'a'e"omu a"so' p'''' cIeu
~ '"' 80 , tse',s'" "1S 'u'l :
49, ,o r"vu'ts '"u eNp'I
% VI au ',u -pu'uo! pusnegs we're re-
pS w - su' ~ lIo,,
'''u W 'ne eI'e.' NC, A'i'e''Vd Wou'u
s',,,'i9. "pm :" n'nn u'l'o''1
supplics W iSuIpVc t'u4AlNN tipp AZ