The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-22
THE GRAIN MARKET.
BiG Wheat Decltne-weather ana
Politics Depress.

The crumbltrg OF wheat values w.
not stayed yesterday. Bears IGNORED
reference to an excellent technical pod.
ton OF the market as a result of ths
hammerhng OF the list recently. Factors
having TO do with the shaping of me
course OF the wheat quotations were
admittedly against a rise.
Selling of wheat was heavy from en>
outset and the pressure did not sub
side materially at any time. Tho out
look for superb weather in the winter
wheat sections completely overshadowed
the reports telling OF Increased dam
age TO the wheat in shock In parts Of
Missouri. Illinois, Indiana and Ohio.
These States had one TO four inches q
rain again yesterday.
II the predicted clear weather through
the West materializes and u~ndergoes NJ
change for several days an enormous
movement Of wheat from the farms u
likely. Winter wheat growers are b.
ginning to realize that they must COM
pete with farmers in other parts of this
country and Canada who also have i'm
ems quantities of wheat TO distrib-
ute An effective holding movement y
o hkely TO be seen at this period a
the season. according to tho majority
of thu opinions expressed.
Heavy declines at the Northwest oo0-
tinued, and this feature Is not expected
TO exhaust It's power as long as the hAr~
vesting OF the spring wheat II expedited
by fine harvesting weather. There u
of course. the u~nsupplied condition OF the
various mills through the country to BE-
reckoned with. but the more satisfactory
climattC conditions. hand TO mouth buy
ing Of four by the domestic trade and
absence OF energetic competition from
abroad render the millers' task Of 70
pfenishment comparatively easy.
Only n small export business in wheat
was contaminated yesterday. Some cash
interests were really pleased with the In
difference OF foreigners, as the political
situation IL acknowledged 10 be discon-
certing. IL was The further irritation
growing osIt OF the Arabic AFFAIR that
again held down speculative support in
the wheat list yesterday. As a result
of the disturbed feeling the hedge selling
is having marked influence On quotations
Corn-The firmness in the market was
In reflection of the storm damage re-
ported in eastern Missouri. Illinois and
Indiana. II was said that much corn
had been blown down by high winds
n that rains had also caused destruo-
ton. Shorts showed genuine alarm for
a time.
The break in wheat changed the un-
dertone. however. Furthermore. there
were larger country offerings reported
anu country nOuStS were SelIllk III idIBot
volume at the advance. An Illinois
State report. giving the condition Of the
crop In that State at 80 per cent, had
material bearing On the market.
Sentiment is generally mixed. II was
apparent that many shorts were in
clined to cover commitments over the
week end. At the same time the fore
cast for clear and warm weather for the
country took from the courage OF those
bulling the market.
Oads-Poor grading OF oats at Ohi-
heavy rains in the East and the
early bulge in corn helped the list for
a while. The outlook for larger receipts
next week and the indications for bet
ter weather. in conjunction with the
sharp reCessions in other markets 10
the day progressed, caused scattered
The hedge selling was fire.
quent.
r~rovisions-The market held despite
the nervousness over the political stu
alton Some OF the large packers have
TO the bull side, believing that
the present prices discount much that
is bearish. Spectators show no anxiety
to buy, however.
Chicago prices