Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-09-27
SEPTEMBER CONGESTION
CONTINUES BULL HELP
Prices VIII lie hid Up Sharply nm
Shorts Attempt to Even UP
Positions.
[Spccial to Tho Tlmcs- Dlspntch. ]

Especial to Tho Times Dispatch
CHICAGO. September 2G.-The con-
/ Scstion in September wheat will CON
! tinuc rs a bull help I'm that month and
the shorts. in an attempt to even up
their position in the market. will bid
prices up sharply.
| 1t Is argued by many In the trade
| that the open interest in September
wheat Is not large; that. besides those
who have bought a great deal of this
grain during the last few weeks. there
by reducing tho open interest there
have been liberal private settlements
which have kept the market within
certain bounds The wheat shorts wero
more or less encouraged during the
! sunny days OF last week as they en-
pcctcd the receipts to increase at Chi
caSo. as well as at the smaller mar
kcts OF the country.
While there was some increase of
tho movement on favorable weather
for thrcshinE and hauling, the receipts
were reduced late in the week to ng-
ures considerable below normal. Tho
farmers still have enormous quantities
of wheat This Is the case especially
In the winter wheat belt where rains
have been against farm work OF all
kinds. Another drawback Ia the work
! I'm the country has been thc lack OF
plowinE and possibilities of a reduced
wheat acreage.
on conditions surrounding the wheat
situation, says:
Acreage Of wheat abandoned be-
cause OF weather conditions. 2.l59,O00
acres: throshinE yield upon balance,
, seventeen bushels per acre and a total
crop Of 6t6.369,000 bushels against AN
indication last month Of coo 600 600
bushels. Only 40 per cent of thrrsh-
ing done, and only ~ per cent finished
III Kansas and IS per cent in Nebraska.
Quality compared with normal Si.o,
and per cent az crop marketable sos.
This shows that while average milling
value Of tho crop Is materially lowered
the amount actually UNIT for any mar
ket use Is not very greatly In excess of
the usual percentage"
The wheat bought recently TO go
abroad was mainly Canadian. foreign
ers proferring that grain owing to It's
excellent condition, rs we'll as to the
difference In the price between that
and the wheat grown in the United
states. Sentiment on this changes al
| most daily, the swelling or the tighten
! ing Of September. or the loosening up
of that month by some OF the large
longs
The atmosphere surrounding tho
corn market may be called bcarish, as
tho recent light frost failed to drive
shorts to cover or cause investors to
take hold. Argentina is Offering corn
mt rate below that asked by tho
United states holders. Farmers in the
United states arc selling corn In a
moro liberal manner.
The surplus OF oats held in the coun-
try Is large. and when 1t starts to move
10 points Of distribution IL IS likely to
cause price rcccssions all around. II
is said that farmers in some places are
inclined to hold their oats for higher
prices because of tho excellent cash
demand on export and domestic ac-
count.
The advance In hog products prices
a tho yards has stimulated the pro-
vision market no little. There has
been a big trade in cash meats and n
moderate trade in lard. Stocks OF
products here are big. and this is tho
case also at smaller Western market
Centcrs