The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-11
THE GRAIN MARKET.
Extraordinary Cash whea,
strensth-Firm Through List.

strensth-Firm Through List.
With about 900, O00, 900 bushels OF
wheat in the country cash wheat has
been very hard to buy for many weeks.
The situation yesterday was regarded as
acute. All markets reported the basis Of
cash wheat materially above the current
contract month in the various future
markets. At Chicago there was a pre-
MUM OF about Is cents a bushel for No.
: red wheat and even the low grades
were 3 to 8 cents over the September
position.
This extraordinary strength made 1t
apparent that the upturns In all mar
kets did not have speculation for their
foundation. OF course there was fire.
auent short covering. but II was not
entirely for commission house traders.
IL was authoritstively stated hat some
mills In the Interior had TO look to
montana for their supplies. Flour bust
ness has been brisk for "A long time and
the situation as far as mills are con-
cerned has been seriously aggravated
by the shortage of millable winter wheat
and the draining OF supplies last sum-
mer. Furthermore. farmers In the South
west are disinclined to sell much wheat
just now.
As "A result the farm movement Is
meeting with eager absorption and the
visible supply increases very slowly.
III the export business of the past ten
weeks mad been OF really large proper
tons the cash wheat situation Nigh,
have caused grave conditions at many
centres. Tn exports OF wheat and -four
from North America for the week were
S,'Zi'oOO bushels. against 1000, 600 In
the previous week and about 400, 600
bushels a year ago. with the total since
July showing 40, 1000, 900 bushels, com
pared with 10000, 900 in the correspond
ing time last season. Export business
yesterday was estimated at 500, 600
bushels, Manitobas continuing relatively
cheap.
The Modern Miller wa the authority
Tor the statement that there would no,
be n accumulation Of wheat for sew.
eral months. II at all. This declaration
mad pronounced influence In speculative
ana other circles, n impaired much
strength TO the markets In the lat,
dealings. Still conservatives oanno,
reconcile themselves to the opinion tina,
wheat supplies will not accumulate
this season. although no attack is mad,
against the forecast that a long inter
val may elapse prior TO the restoration
OF normal conditions.
the text OF IA Washington message a
land yesterday Indicated that the De
partment OF Agriculture would soon TAX,
up the question OF revising it's recen
wheat crop estimate. The trade expecti
an announcement in about two weeks 1,
the erect that the m~erchantable winte
wheat outturn Is under 600, OOO, 90,
bushels. In the last report this crol
was placed at 65s. 000. 900 bushels.
Corn-The best prices OF the day wer,
recorded near the finals In reflection O
the decided strength In the wheat lis,
Shorts We're also disturbed by the fros
prediction for the Northwestern States
IL was wired that temperatures in sec
'ons oil Nebraska had dropped 80 de
grees yesterday. but denials OF this phe
homenon were received before the ses
sion ended.
sentiment was very much nike
Ihere are more bears to be located "A
present tan when the list was 10 cent
a bushel higher. Part OF the earl
pressure In Yesterdays market was pre-
dIuated on the reliable reports OF coun
Try interests being more disposed to sci
presumably In recognition OF the exec
ieht weather OF the past few weeks.
oats-Tfe upturn in other marke,
was the chief sustaining factor. TIL
outside demand was mainly I'm m. ma
lure OF short covering. Export deman
was not active. In fact. II was asai
SAID that Canada was receiving the hui
OF the export inquiry. Canadian ost.
however, are not much cheaper than IN
American grain. Hedge selling yester
DAY limited the advances and served I
discourage "A bullish sentiment.
ProNisions-The Government issued
report yesterday placing the number @
hogs IN the country as OF Septemhe
! AT - per cent. over the total OF
year < In January the numher q
hogs on farms was $4,000, 900. This re
port was bearishly construed and prc
vision values were adversely affected
Early advances, based on the highe
grain and hog lists, were soon reduced
Chicago prices