The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-01-07
THE GRAIN MARKETS.
wheat Advance Hslts-Reduced En-
port Takings-Much Liquidation.

Considering the extent OF the recent
wheat advance and the accompanying eX-
element the recessions OF yesterday were
not viewed as unnatural. The periods OF
depression were attributed primarily to
the unloading by many speculative hold
ers, among them being important Chicago
interests. A report spread that the list
was on the verge OF a sharp readjustmeut
to a lower basis. which statement. though
uneXpliclt had weight In the sensitive
market.
The less urgent export demand wa not
overlooked. Claims that foreigners would
soon reappear as conspicuous buyers were
heard. but these forecasts were not re-
sultant In much fresh outside support
The option markets were less active. Yet
interest has not waned and more than
once the action OF the list was referred
to as splendid. all features considered.
Export business was estimated at 800
600 bushels. There was prominence given
to the claims that foreigners were resell
ing. In unbiased quarters the suppos.-
ton was that European speculative in
terests, not unlike our own, were utilizing
the recent unusual enhancement to secure
their profits. But very little actual-wheat
was being resold.
Early declines of about y cent in the
Liverpool cash market were bearish fac
tor here. There were cables telling OF
contemplated action by the British Gov
eminent to stem the rising foodsturf costs
Late in the day better tone seemed n
develop abroad. some cables indicating
that Argentine wheat was purchased al
a C. above the quotation OF the previous
day.
Attention was given to disappointing
| harvesting returns reported from the
Southern Hemisphere. While tho ex-
portable estimates remain at over tina
! hundred million mark. there is decidedly
less dread OF Argentine competition
Some French buying OF American whea;
| within the last few days has been laid 10
the unsatisfactory quality of Argentine
wheat and the tonnage situation.
There were dispatches suggesting
scattered selling by country holders.
Such accounts were not unexpected
Beneficial precipitation. mostly rain. has
fallen over the domestic winter wheat
area since Tuesday night. The receipts
are not heavy, but clearances were not 30
large yesterday, amounting to only 500
| 900 bushels.
Corn.-Freer country offerings wera
again instrumental in lowering quota
tions. The fact that wheat declined
naturally restricted outside support. Re-
ceipts OF 100000 bushels compared
with only about 100000 week ago and
last year. Cash prices We're reduced
close to a cent without stimulating much
demand. Toward the close of the scs-
sion. however there seemed to be more
confidence on the buying side, due 10
continuous strength abroad, which may
easily cause an export demand ior
American corn.
Oats-There were moderate declines
in sympathy with tho reactions in other
markets. Speculative holders sold con-
siderable amounts. although in the lat9
trade there were rumors OF an I'M
proved export demand. The rally In tn'
list was feeble.
Provisions.-Large hog receipts ara
the weaker grain markets explained 'h'
declines. Public support was less ~
evidence. Packers were credited win
operating on both sides OF tho H''
Chicago prices;