The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-20
THE GRAIN MARKETS.
Exporters Buy milton Bushels al
whent--weather Had.

The export buying of wheat during
yesterdays session was placed at close
to a million bushels by conservatives.
Comparatively few In the trade were
aware of the liberal foreign absorption
The common idea was that the pur-
chases for European account would not
exceed 800. 900 bushels. and on this view
the speculative buying In the list was
held in check.
Yet the undertone to the list was
strong throughout the day. TIL weather
news was quit bullish and the stats
tics published also favored the holders
of wheat. Especial attention was called
to the decrease OF 1,425,oo0 bushels in
the visible supply statement for the
week. against an Increase OF 3.43',o"o
bushels "A year ago. II Is likely t,.at
several weeks will elapse prior to i'm
portant accumulations taking place IN
his visible supply. as virtually all IN
terests handling actual wheat are un-
pleasantly ike because of the meagre
carry over as a sequel to last sea-
sons scarcity and the bad harvest g
weather recently. The total visible Is
300. 900 bushels, against 1S,6aO.ooo
bushels a year ago.
Since the close OF last week heavy
showers occurred in parts OF Kansas. Mis-
souri,. Nebraska and Iowa. The American
ard Canadian spring wheat belts also had
excessive rains. while the Pacific coast
States sent similar complaints. Experts
agree that 10000, 900 bushels ma have
to be taken from the last winter wheat
estimate OF 663, 600, 900 bushels. also that
the Canadian promise and the outlook
in the Pacific coast region are not as
bright as their promise of a few weeks
ago.
As a partial offset, there is less heard
OF rust in the Northwest. Lyle, the crop
expert for $. Il. Chaplin & Co. spoke of
a so. 900. 900 bushel prospect for South
Dakota. against 81 600. 600 a year ago,
and others in the trade say that normal
weather hereafter will give the Amerl-
can Northwest about 800. 900 600 bushels
OF wheat. against POS, 000, 600 raised last
season.
Part of Yesterdays buying and much
Of last weeks short covering have been
for interests confident of burdensome
I supply conditions to develop. Appar-
| emily their operations were premature
or rather rendered injudicious by the
stretch OF bad harvesting weather.
which has kept the wheat from
market with greater effect than farm.
ers could IN by an experimental
or unstable holding policy.
Yesterdays receipts were only $4,000
bushels. against $50. 600 n week ago and
2,246. OO0 last year. Furthermore. much
OF the wheat arriving is OF inferior
grade. due to the excessive moisture
Much better weather was forecast Tor
to-day. but many Of the bears are
disposed to await a p~rotracted spell or
ideal wheat moving weather.
COrn-The offerings from large West
ern elevator houses were not par
| ticularly heavy and the weather news
was not OF a kind TO induce active out
SIDE selling In the list. storms occurred
In sections OF Nebraska and Iowa over
the week end and several OF the Other
Western States had excessive rains. II
is stated by experts that a very late
! frost will have TO he witnessed TINS
J season If the important Western corn
areas are to give normal yields.
There was an official prediction Tor
clear weather for the belt generaliy'
which held down the speculative demand
Likewise the continued offerings from
the Argentine at New York, 10 i.c. C. /, r.,
initiate against bull support. Favorable
crop advices from the central and east
ern districts also tempered the feellng Oh
bullishness in certain quarters, IL was
the strength in the wheat list mat had
much to do with the higher closings Tor
corn options.
Oats-Thc trade was not active during
the day and prices moved with those III
other markets. The wet weather was
bullishly regarded. but hedge selling APP
pearcd on the bulges. Export demand
for the new crop is in evidence, although
the realization that there will he a liberal
exportable surplus in this country this
season prccludes speculative buying on
this feature.
Proyisions-Large hog receipts were
depressing to the list for n time. The
bulk OF the selling occurred during the
early trade. Claims OF a betterment II
the cash demand helped the subsequent
recovery.