The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-18
GRAIN MARKETS.
shakeout In wheat, Cor n oats
-Enporters Check Decliae.

shakeout In wheat, Corr and Oats
-Erporters Check Decliae.
Recently the speculative demand for
wheat has beer centred chiefly on the
July position at Chicago. 1t was signin-
cant that this option was tho leader In
the break at yesterdays session. The
smashing of prices was not notloeably
halted until near the close OF the day,
when the trade paid more attention TO
the export demand. which resulted in
estimated sales Of more than 500, 900
bushels.
The European news was disconc~rting
to tho speculative holders. Sensational
reports were circulated as to the activity
and attacks OF the German war craft on
bclllgerent and neutral vessels. II was
said also that mines were being dis
tributed over a broad area and that ship
ping would he fully ss hazardous as was
threatened In the war zone declaration
of last week, to become effective to-day.
Many interests have been long OF
wheat for some time. n according to
the gossip It was their intention to ad-
here firmly to their position until peace
was in sight or something definite de-
veloped to check the flow Of wheat from
the United States. Under the circum
stances II was not surprising that the
liquidation OF tho day was considerable
and that stop loss orders precipitated the
decline.
The fact that farm offerings were
larger was also attributed to the general
nervousness prevailing over the political
situation. Leading cash houses were tho
most conspicuous sellers OF wheat dur
Ing the early session.
A great deal OF m was made on
the statement from the Cabinet TO tie
effect tina no embargo OF wheat was
necessary at this time and hat food
stuffs In the country were In liberal
supply. There are authorities who do
not dispute this finding. but they insist
that the amount Of wheat remaining
for export IL so, 900. 900 bushels maxi
mum and that at the present rate of
foreign absorption the surplus will soon
he exhausted and farm reserves de-
pieted at the expense OF the volume for
home consumption.
Tho actual c~learancee yesterday vera
ass. 600 bushels. the lightest In many
days. II Is not believed. however. that
tho exports will diminish very much for
tho next several weeks unless ocean
lanes are really rendered unravigabla
Incidentally freight rates were again
raised and insurance costs were higher.
II was privately cabled that English
millers were more anxious about cup
piles ard that in cases Il had been
about decided TO pay the very high
costs rather than to defer purchases in
the hope of relief. The recurrence OF
reports hat Russia would ship some
grain very Don over an obviously
roundabout route did not have much
effect.
Weather conditions for the new crop
CO.. tlnue favorable. but the sdvices arc
"Ct all good. Tie Price Current sum
. mary frsrftnnAh Tho ura4 ND cold
weather In the newly formed wheat
region OF the cotton belt &C having been
u~nfavorahlr, while the seed sown in the
parts OF the eastern winter wheat belt
has not terminated properly.
Corn-There was a break OF nearly
three cents. due TO persistent liauidI-
tion. The efforts Of an aggressive set
Of bears were said 20 have met with
fair success. MANY outsiders We
forced 10 sell. not caring 70 deposit adj
di'lonal margins. Country offerings DID
not seem 10 De ~burdensoHle. yet there
WAS unmistakahle pressure from coun-
Try points at times, suggesting a con-
trdS,!ng position OF holders. Cash
prices We're readily lowered TO conform
with the sharp drop ia the option mar
krt. in spite ri the fact that the mov--
meut totalled only $4,000 bushels,
a~i.ainst 100000 a week ago and l.ll5.-
Geo las year. An over bought con-
dition vas a vital factor In tho Losses
scored.
Toward the close OF the session a
substantial rally occurred. predica'ed
on the heavy buying by cash houses
and on the rumors OF "A liberal export
business. The sales 70 Europe were
estimated nj more than 500. 900 bushels.
pats-The bad break In other mar
kets naturally extended 10 oats. Some
OF the leading holders were credited
with l%.quldat!ng There were stop loss
orders 20 extend tho declines. Country
selling was slightly increased. Receipts
NJ Interior points were 100000 bushels.
comparing with 500, 0oo last week and
$4,000 a year ago. Support from -N-
porteGs caused a sharn rally In the liz,
during the late tradiug. Il being esti-
mated that foreigners have taken more
than 100000 bushels since late Tues.
day.
Prov isions-The weakness in grain
and the large hog receipts explained
the decline. The pressure came from
scattered sources. II was claimed that
packers We're on both sides % the mar
kct
Chicago prices: