The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-24
H GRAIN MARKETS.
wheat Breaks y Cents On Shippiue
Copditions-Corn weak.

The extensive break in the wheat list
Yesterday was ascribcd chiefly to reports
in regard to tho Dar danelles and to tho
tangible evidence of shipping inter-
ference. Other features were subordi-
mated. and in consequence there was a
great deal Of liquidation. The selling
came from scattered sources. fiuctua-
tiuns being very %erratic. II was init
mated that the market. while technically
improved. still contains holdings for
speculative interests, which, because Of
previous successes and experience. are
not inclined TO abondon the long side
In haste.
That the advices telling OF further
damage to the forts guarding tho Dar-
danelles had material effect ou the
values was Nowhere denied. although
many in the trade were not particularly
Impressed. The Russian wheat sur
plus Is placed at more than so. uOO. 900
bushels. but exporters familiar with
actual conditions say that even assunl-
ing more progress and the actual forcing
of the straits. there were other elements
p~reCluding a grain movement from
Russia for several weeks. chief among
them being the poor railway facilities
in the country and the unnavigable con-
dition OF the waters at this time of the
year.
Those in the trade who are following
shipping very closely were visibly dis
turbed by the reports of vessels being
Withdrawn just before sailing from Lon
don. Tho report yesterday was that two
boats scheduled to sail from that port
had been requisitioned by the British
Government. 1t was argued that this
disruption of the shipping servic. was
in reflection Of the submarine activity.
Tho fear that the movement Of wheat
from the United States might he de-
layed or Interrupted to such an extent
that reselling here may he necessary ~.
of course, the dlsconcerting element at
this stage.
There WAS not a great deal of sup
port for the list during the session In
port houses were frequently ol tie buy
ing side. but this demand did not suffice
TO maintain values for other than brief
periods. II was estimated that the
foreign absorption was close 10 a MILLION
bushels. Claim was also made that the
comparative steadlness OF cash wSeat
made it difficult to satisfy in fun tho
export inquiry. The understanding VAS
! that farmers, particularly those in the
Southwest. offered quite freely over the
holiday. but natural. values were not
lowered in full conformity with tho
sensational drop in the option markets.
CONTEMPLATION IN the corn mar
ket was persistent. The buying on IN"
eNpurI DuSlsltSS o. f'N,'Nu pu~ilslS vas
not important. Likewise the accounts
Of u~nf1vorsblc weather in the Argen-
tine we're devoid of much influence
Holders were discouraged 10y the dras-
tc break in wheat and by the Influences
hold accountable for the general selling
In that market. stop loss orders were
reached.
Oats-The close OF the market wa.
very weak despite the fact that the list
often showed q much ste1dier tor"
than other grain. Heavy buying for
export account held the list for a time.
The foreign takinrs were placed at
about 100. 600 bushels. although a part
OF this represented holiday business.
MISUNDERSTANDING selling wa.
induced by the sharp declines in grain.
Large packers we're or both sides Of
the list. Patrick Cudahy was again
predicting cent lard and So pork
10 result fro the big hog supplies.
The hog movement Yesterday was only
fair.
49, -