The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-04
HI GRAIN MARKET.
Political Advices and weather De-
press whcat-Coru Breaks.

Wheat values settled back yesterday
to near their lowest levels. The market
was not sustained by the urgent demand
from shorts, as was the case on Thurs
day. Another perfect weather mai was
posted. II is said that the spring wheat
belt Is experiencing harvesting conditions
similar to those h n resulted In the
phenomenal yields of winter wheat last
season.
Northwestern farmers continued to un-
dersell others and some cash wheat
premiums were lowered appreciably.
Wheat receipts through the country are
likely to mount to large figures very
soon. Since July I the movement,
especially in the Southwest. has not
been commensurate with the size OF the
crops. SO that wheat is likely to come
forward soc with accumulated force.
The receipts so far this week reached
7.4ii,000 bushels, againsts $780, 900 in
the preceding week, and 5000, 900 bush
els a year ago.
Efforts to create q bullish feeling In
commission houses are mostly futile.
The idea persists that wheat prices nave
not struck an investment basis as vet
and that ultimately there will be lower
quotations. Many In the speculative group
were not averse to pressing the selling
side, however. despite the realization that
the market remains technically strong
ana stocks everywhere. with the excep-
ton OF those IN the farms, are meagre.
The daily hedge selling has much to do
with the confidence OF the bear forces.
Peace talk was used against the mar
ket even though the latest reports in
dicated that England was not in a con-
clllatory mood. Likewise, a Dardanelles
story that further progress had been
made In reaching Constantinople was a
pretext for pounding the list. Rather
bullish foreign crop accounts received
only passing consideration. These told
or an unsatisfactory start and a mod
erateiy reduced area in Argentina, a
u in India and excessive rains in
the harvesting districts of England and
France.
The export takings yesterday were es-
timated at under $50, 900 bushels. II
had been expected In some quarters that
with foreign exchange much higher n
decided expansion in the export trade
would be seen. However. exporters en-
phaslze tho point that the recovery In
exchange rates had not really paved the
way for an agreeable sale OF exchange
involving thirty or sixty day bills. Ex-
ports of wheat since July 1 total 49, 0O.-
600 bushels, against $1,000. 900 a year
ago.
Regular sessions will be held in ali
grain markets to-day. but the principal
markets will be adjourned on Labor
Day.
Corn--The sharp recession yesterday
was rather unlocked for. Some OF the
outsiders who bought recently on the
prospects of n frost scare sooner OF
later were among the heavy sellers
There were also country offerings OF
larger volume and the large Interest,"
who have been working against the lis,
for the past week continued to press
sales.
Very favorable weather condition,
were reported over practically the entire
belt. Corn il rapidly maturing In tn,
Southwest and big yields are practicali,
assured. The Armour Grain Compan
reiterated its estimate for a 1000. 900.
600 bushel crop and added that with
feedstufs In general so plentiful anc
pastures in fine condition there woul,
be a saving OF $4,000. 900 bushels IL
the corn consumption this year.
ats-Ca house buying and shor
covering prevented the market from
declining more than a fraction. Coun
try selling was rather we'll absorbed
There was an export business estimated
at 1900. 900 bushels.
Provisions-The market for lard an,
ribs VAS quite steady In face of weak
ness in pork. Speculative demand
improved at the declines an. there wa,
also occasional support from packers.
Chicago prices