The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-16
n GRAIN MARKET.
DarAanel1es Aavices Cause
strength In wheat.

Strength In wheat.
The bullish sentiment in wheat circles
was pronounced during yesterdays ses-
sion, even though a fair reaction was
registered before the market closed.
Much OF the buying through commission
houses was due to London advices in
dicating a strong possibility that the
operations at the Dardanelles would be
abandoned. 1t Is generally conceded that
there will be plenty Of wheat to supply
all requirements without Russia's esti-
mated surplus Of 150, 000. 900 bushels, but
the speculative holders OF wheat appre-
ciate the present strong supply n de-
mand situation. and argue that with a
suspension Of attacks on the strait
the bugaboo of the big Russian sur
plus will not confront the trade until
there Is q prospect of peace.
Some OF the active deliveries gained 3
cents a bushel. Mills continue to buy &C.
lively. The farm movement is causing
no pressure. 1t Is understood that do
mestic consumers of flour have not re-
plenished their stocks to n noteworthy
degree. which presages q liberal source
or support to the cash wheat situation
for an indefinite period. However. the
prospect OF larger receipts. especially
at the Northwest. was not ignored yes
terday by bulls who had profits on their
holdings.
Clement; Curtis Z Co. compiled a report
country n 80. 1000 900 bushels. Many authori.
YES believed that this estimate OF the un.
E,erchAntable wheat wAs excessive. The
. billion bushels, and some reliable reports.
including the Snow estimate. have susgested
thai there were from 100000 TO iio,0O. 100
Dusnels OF unft milling wheat this season.
IN previous years the total has varied from
so,coo 900 to 600 900 bushels. and the wheat
OF inferior quality 10 used for feeding, export
bushels Of inferior quality wheat this sea.
son. therefore. II does not seem fair TO many
70 unquAihedly deduct a like amount from
the crop or the exportablc surplus. Thus II
was commended that the exportable surplus
OF wheat this .eason would equal last years
total OF 10.6o.oo bushels even after heavy
country.
IN exports of whea, snd nour for the
week were l0,6S 90 bushels, against 5,.5t,OOO
q year aSo. SiUe July | the total is 81, 0Oo. 900
bushels. compared with 10000. oOo bushels y
year NO Durins the past few weeks the
heavier percentage Of Canadian wheat Than
was tho case in 1914. The export business
Yesterday was placed n so, ON bushels and.
there was consolation derived from the fact
thA inquiries for several millions of bushels
were hero ~ prices about Ave cents under
sAC aie AGts
The Modern Miller confirmed other pri.
va'e reports in figuring the new winter
wheat area st 10 TO 70 per cent. under that
Of q year ago; The usual ny complaints are
being received.
CorD-Further damage reports came to haad
ann the market made a fairly sub-i antial
advance. The sharp bulge IN wheat had
pronounced effect on the list. Buying for
shorts was active, and judging by the sen.
iiment ~ commission houses outsiders
boutht more or less Gown. There IL likely
TO he increased hedge pressure in the near
future, according to private reports, espe-
cialIy II weather conditions during the late
fall are good. Rumors of expor, business
are frequently heard and credited: foreign
markets continued strong Cash markets
were readily advances with futu res yester-
day.
oats-The advances were not altogether IN
sympathy with the upturns in other graius
Exporters were active buyers. il IL believed
that the FOREIGN purchases the past few days
exceeded I.jW 900 bushels. Increased hedge
selling was ofse, by All expansion In the
speculative demand.
Provlsions-The seDing for packers had a
very denre sing effect on the market. sup.
port lacked volume and the fresh gu, side
demand wa Disappointing Recon, hog re.
ceipts have heen well absorbed.
Chicago prices: