The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-17
THE GRAIN MARKET.
Europe Takes About 10000 o
Bushels Of wheat.

once more European interests took
ABOUT a million bushels of our wheat
ana the market In conse sequence was very
strong. The ascension of the list yes
terdsy placed quotations within four
cents OF the highest records Of the
season. Those who are out Of sym
PATTY with the prevailing levels had
only brief periods of respite YESTERDAY.
These were furnished when il became
evtient that farmers in various West
ern districts were selling moderate
quantities of wheat.
AdNiccs from Washington that the
Administration would not support "a
wheat embargo attracted n great deal
OF attention despite the fragmentary
nature of the reports. Thus far Con-
gross has taken no definite action and
the surplus is rapidly being sold. There
are authorities in the trade who believe
mat not more than 0.000.0 900 bushels
email In this country available for
export to the coming July.
Statisticians fostering this estimate
give out the following totals: A crop
OF S'O,OOO,0O0 bushels and a carryovcr
last July OF about 1900. 600 bushels
make a total available supply at the
beginning Of the season Of G 900. 600
bushels. From this amount are IN no do
Quoted approximately $40. 600. 900 bushels
Tor the years home consumption, sa,-
100000 bushels for seed and 225, O0o. 600
bushels already exported. An apparent
surplus of 1928 900. 900 bushels il shown.
but II IL commended that so. 900. 600 BUSH
els or this quantity have already been
sold for export and await shipment.
while allowance would have to be made
Tor a c~arryover OF perhaps $500 900
bushels. which would be the smallest
carryover in years.
On the other hand IL might be argued
that the amour Of wheat owned nv
Europe In this COUNTRY awaiting trans
portation is only 40, 200, 900 and that tho
carryover might be brought down %
80. Q oo' bushels. on this basis "
calculation the remaining exportable
surplus in the country would seemingly
ne raised to more than b5, 900, 600
bushels. There are Of course some mod
crate quantities OF wheat on farms. but
inIIIers In this country have yet to
draw four months supply, and IL IN adj
monished that with the conditions con-
fronting the world at present a carry
over Of 80, 200, 900 bushels should call for
very high values. especially IL the new
crop outlook should change from IL
splendid condition OF to-day.
The fluctuations in the market yester-
"a" were again very sharp. II Is note
worthy that certain interests in the trade
are expecting changes greatly exceeding
In violence any hitherto witnessed. The
speculation by outsiders has been greatly
curtaiied. Others actively identified with
the trade are exercising unusual caution.
The sentiment RENAME strikingly bullish.
n vague rumor reached the trade yes
terday that an Italian vessel had been
destroyed in mined waters following Last
weeks unconirmed stories of several
British boats having met destruction.
Inc worlds visible stn'.unapt shNus
eo,oOO.OOo bushels east OF the Rockies
against $4,000. 900 a year ago $1,000 .OOn
IN Canada. against $1,000. 600. and "a
100000 bushels in and aloat for Europe
comparing with 10000. 900 a year ago.
The decrease for the week was ll,eoO.-
600 bushels.
Corn-While some Of the lea in
teres's in the trade were talking bull
ishly because of the greater feed re-
qu'rements his year and the export
possibilities. the market had a mod.
crate break YESTERDAY. There was a
great deal OF scattered liquidation and
Il was averred that the technical posi-
ton had been weakened. Many opera-
tors were chased from the wheat
market into corn during the past few
weeks.
Export demand yesterday was not
urgent. although sales OF 300. 600 bush
80 VIZ llll 'hFn ITlCtS ne U
theloss were down from | TO IL cents.
and large receipts were expected 20
follow the larger country acceptanccs.
Bvddsfreets visible showed = total Of
100000 900 bushels. against 90. 900. 600 a
year ago.
Foreign corn markets were rather ir-
regular during the day. The favorab bic
crop Jews from Argentina was again
a topic Of much discussion.
] Oats-The steadiness in wheat helped
this market for a time. but gradually
the market was lowered with corn. and
on the same kin OF liquidation. Their
were no clearances for the day, and the
Interior receipts were 500, 900 bushels.
against $4,000 last week and $4,000
a year ago. Buying by exporters
checked the reactionary tendency. with
the business placed at 100000 bushels.
Professionalism receipts were lighter
and packers seemed more inclined "a
support values. outside trade was scat
tered and well divided Stocks at Chi
cage remain very liberal. Chicago
prices: