The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-06-24
H GRAIN MARKET.
wheat Rise-Export Ru-
mors-Cosrse Grains strong.

An unconfrmed report, thought to
have emanated in Vail Street circles.
that Sweden or Norway had purchased
more than 1850. 900 bushels Of wheat
yesterday impaired strength to the mar
ket after a lower range of values dur
ing the early session. The bulk of the
buying was for shorts. although large
local operators were credited with work.
Ing on the Ions side. believing the tech
meal position of the list strengthened.
The export business traced was $780,
900 bushels. principally old wheat. In
quiries from abroad were far from nu-
merous. and leading exporters. who have
often been consulted by Norwegian au-
thorities. stated that they had no indi-
cation of the big export trade claimed.
II is known that numerous agents
abound in the city. many imagining
themselves In touch with Governments
abroad. The buying account of grains
for interests abroad has been system
affixed so that outsiders 40 not share in
many of the orders from Europe.
Nevertheless. local wheat exporters say
that they are continually approached
for offerings on a million bushels OF
wheat by individuals who are without
knowledge OF the grain business.
The English market showed no spe-
cial steadiness. although millers abroad
are again reported absorbing wheat
more freely. Apparently the drought con-
dit,ons over a large European area are
unrelieved and more was heard of this
feature. Private cables from English
centres indicate. however. that prices
have not declined sufficiently to satisfy
the speculative element a, Liverpool.
These interests are counting on depres-
sion in the market when new wheat
moves freely from the Southwest.
The hedge selling yesterday wa
spa smodic, but the bulk OF II took place
during the early dealings and explained
the initial Losses In the market. Bears
also endeavored TO force values down,
but met with little or no success. as
the weak outside holders were thought
to have l~iquidated a few days ago.
There were a few complaints because
OF the showers delaying harvesting OPP
erations In Oklahoma and Kansas. while
the weekly Government bulletin and the
Price Current commented on recent
heavy showers having caused wheat to
lodge in the central and northern parts
Of the belt.
Home milling interests, whose stocks
Of old wheat are very hight. were again
fairly active on the buying sid of the
list. This demand has gone Tar toward
checking recent declines in the list.
Northwestern markets were relatively
strong yesterday. the July delivery at
Winnipeg gaining about five cents a
bushel.
Corn-The offerings OF Argentine corn
at New York caused quite a little SELL
ing for a time. II was said thai close
10 a million bushels were to be had at
prices ranging from s to 10 cents under
the basis Of domestic corn. The actual
business effected was placed at only
Is, 900 bushels, although some authori-
ties insisted that a cargo had been sold
for importation here.
The Chicago market broke from the
influence of the Argentine news. how
ever. Prospects Of showers over much
OF the corn belt led to considerable
short covering and fresh speculative de-
mand. Private and semi-otficial reports
were again bullish as regards the effect
OF the recent rains In the West and
Southwest.
Claim was made that the Govern-
ment report to be issued on July 8
will show a lower crop condition than
any In the past several years and that
the acreage will be under earlier Xpec-
tations.
Oats-The list rose readily with the
advance In other markets. There was
some buying of the deferred months on
the theory that prices are attractive
despite the promise OF n crop close to
a record. Shorts were credited with
most OF the buying and rumors OF ex-
port business were not confirmed. De-
clines during the early part of the ses-
sion were ascribed to further hedging
operations and scattered bear selling.
Provisions-Further liquidation In the
July delivery was claimed for n time.
There were liberal hog receipts. The
close of the market was strong, how
ever, with support from packers and
shorts.
Chloa NO nrfoaos