The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-03
THE GRAIN
ensstiOnally Bullish wheat News
All Grains Very StrOrg

The sensational reports published and
the expressions heard relative to the
quantity OF wheat produced in the United
States for the present season had In
fiuence on yesterdays price list. The
ranks OF the wheat bulls were heavily re-
enforced and there was an excited and
buoyant market all the session. Gains
were as high as four cents a bushel In
instances. The list went far above its
previous highs because of the stampede
of some shorts hitherto stubborn and
confident. the market buying ord r.
through commission houses and the per-
slstent buying for foreign account. Tn
der the circumstances II was natural
for the realizing sales TO be absorbed
without seriously denting the price list.
After the market had made considerable
Roadway. as "a result OF the export bust.
ness OF more than a million bushels, mil
buying at the Northwest and southwest
und ,he Wall street demand. Clement, cur
Tie 4 co. published II statement placing
the m!!!ah!c wheat crop IN IN" country al
only $4,000 900 bushels. This "
essentially correct. would mean that prac-
tically all of our eNportable surplus has
already been shipped or contracted for.
The Government placed the total wheat
! crup at 1000. OO0. 900 bushels. and 1t has
been freely predicted that any downward
revision OF the winter wheat figures IN the
! coming report on December 10 would be
neutrahz-d by an Increase OF the last
spring wheat estimate of si5.OOO,oo
bushels.
acceptance OF the amazing figures issued
by the Chicago house. Veterans In the
trade regarded the s,imat ms radic%.
Not Yong ago the Armour concern WAS
credited with the assertion that the I'M
morch ntable winter wheat in the country
was not 100. 0oO. 900 bushels. ON the other
Co, who has been very bullish on wheat.
said that his advices pointed TO zoe, 0oO, ovo
bushels of unnt milling wheat IN the couh-
try. =.
Several authorities pointed out that 1t
would hardly be fair to deduct from the
total crop all unht milling wheat In the
country, Experts say thaa eSiooo.ooO
would not he an excessive total. Much low
grade wheat Is used for feeding purposes.
some exported and occasional mixing with
high grade wheats IL delicately lntifnhted.
Many assert that the Government should
have made "a canvass this season TO ascer'
tain the actual quantity of unmerchant.
able wheat In the county, lmere nave
pending. but no definite announcement has
come from Washington.
Reports OF freer offerings from ArEen-
tina and Australia did not have an adj
verse influence on domestic wheat values.
4 material efpansI9n IN x ,hs n,s'T Mes rs
ported. which partly accounted for the
heavy export business here The clear.
ls expected that Braistreet's export state
ment to-day Will be bullish.
Corn-The confidence Of speculative In
terests was undiminished and fresh high
levels were reached. Many longs OF recent
date reins,ated their holdings encouraged
by the limited country offerings. The
absence OF much selling by farmers. despite
the good weather and high prices, has
been one Of the features Of the bull mar
ket. Technically, the list II believed to
he in a weak position, although this con-
dition prevailed last week without aiding
the hear Interests, The renewed specula-
ton for higher wheat prices startled many
Of the corn shorts yesterday. Interior re-
ceipts were only $50, 900 bushels, against
lilo, OO0 a year ago. Foreign corn mar
kets continued strong.
Oats-There was export business OF close
to a million bushels. This buying. com
hned with the speculative demand for
long and short accounts, brought about new
highs for the movement. The hedge selling
and pront taking were we'll absorbed Re-
ceipts so far this week total $3.50. 900
bushels, against 200 200 a year ago 1t,
prices up. The big hog receipts were
OF the grain markets and the sharp re-
duction OF stocks OF product at Chicago.
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