The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-02
THE GRAIN MARKET.
Scramble for wheat CoptinueS-
Mig Gain. for All Cereals.

Some well informed authorities hg-
ured yesterdays foreign tatdnss OF
wheat az 1900 900 bushels. Tho drain
on the surplus was worth from four
TO six cents bushel Values were
lifted steadily and with each advance
another new high basis was eStab-
llshed amid much excitement.
Tho more urgent export demand
was ascrlbed to the competitive abb
sorption In the countries with wheat 90
sell. This clamor for supplies was
made evident by the authentic adj
vices b. the erect that Italy and
Sweden had removed their charges for
grain importations. IL was also init
mated that England would soon take
steps to garner tho remaining esd-
mated surplus OF 100000 bushels In
Canada. Bread RIOTS nre again re-
ported in several OF the European coun-
tries.
There are few bears in tho market.
Many bulls are conspicuous, but
great number OF the advocates of
higher levels have Nqmdated. The
profit taking yesterday was enormous
at times. yet reactions we're scarce
and not extensive when in progress.
Export houses were compelled to pur-
chase options ut various stages because
of the Inadequate country offerings.
Farmers are receiving Si.4O or more In
many PARIS OF the country for the frag-
mont of their crop. Country advices
tel Of the confidence of holders, It being
declared that another 10 cents should
be added 20 wheat quotations in easior
fashion than the preceding rise or that
amount.
II is true that no real opposition is bo-
ing furnished TO the amazing and per-
sistent upward trend. Students assert
that until tho war situation changes
there will be no abatement In the dsap-
pearlnce OF American wheat, and under
tho circumstances mere speculative re-
sistanoe to the advance would only aS-
gravate affairs.
War insurance rates on wheat and
other grain shipments wero slightly
higher yesterday in reflection Of the
raids perpctrated by tho German vessels
on British commerce, Should this sort
OF destruction become more extensive
there might 10 congestion OF wheat at
domestic points. but in tho meantime the
jeopardizing of ocean transportation
serves TO make nations now dominating
tho seas more anxious for supplies.
Other features OF bullish import wore
condition estimate of rs against 9s a
year ago. Most winter wheat States.
however, have Jared much better than
oklahoma since last fall The clear
ances yesterday were 100000 bushels
and the visible supply decreased 3, 800. 900
bushels Serious comment was made on
the presence OF only 100000 bushels
OF contract wheat at Chicago. a small
total when the vast interest in tho mar
ket AZ that centre Is considered.
Corn-The wheat rise was the prin-
cipal sustaining influence. Domestic
cash buyers were frightened and
bought freely. Speculative interests
were again active on the buying side
Some shorts wero driven to cover.
Farmers were not selling freely and the
receipts were not so heavy. The
weather is against tho movement for
the time being. on the upturn there
was moderate liquidation for outside
account A difference of opinion pre-
vailed as to tho extent OF the export
demand. although most authorities re
garded the inquiry as satisfactory. Tho
gain Of 1897 900 bushels in the visible
supply stocks was rather larger than
was expected.
Oats-The action OF other markets and
the removal of the oats import duties In
Sweden and Italy were the bullish
features. fOrelSn houses conptteu WIN
speculative interests for supplies.
Offerings from farms and outsiders were
seldom of consequence. There was a
decrease OF $4,000 bushels in the visible
supply statement.
Provisions-PacknG interests were
selling on the bulges As a result the
response TO the grain markets excite
ment was feeble. Hog receipts were
| liberal.
Chicago prices: