The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-01-28
THE GRAIN MARKETS.
wheat Keeps on Coins IN, All
Values at New Records.

The buying tervor In wheat was tn
tens!fied yesterday rather than dimin-
Lsasd by the scoring OF additional SEN
sationd advances to the Hottest levels
IN years. Speculation accelerated the
upward tendency. but there were many
other contributing factors Big people
in tho trade who are supposedly we'll
Informed reiterated that unless the sit
uation changed abruptly and permanently
much higher quotations are inevitable.
1t IL significant at this stage that
there is little or no manipulation in the
market and in many instances the we'll
known operators OF the country are
merely interested onlookers. James
\. Patten when pressed for n state
ment, asserted that the talk INDUCED
in connecting HIM with the advance In
wh,A was idle and that he has not
made gr,un trade OF any kind in the
last ten dpys. Mr. Patten points out
that In this time wheat has risen 10 cents
"a bushel. and there have been substan-
tial advances In corn and oats. suggest
Ing to his iulnd a strong worlds mar
ket and not the domination OF any man
or set of m,u. Many other authorities
In touch with tho detailed market infiu-
ences EXPRESS similar views.
The Dutch Government was credited
with taking 300. 900 bushels OF wheat
yesterday EXPORTERS sold about as much
In other cham els Ordinarily European
takings of 500. 200 or 500. 900 bushels of
wheat would not be regarded as war
ranting a rapid enhancement OF values,
but at this stage with less than 5O.oOO,0O0
bushels maximum to spare, and five
months before now wheat becomes avail
able, such ABSORB lion Is serious
Farmers again refused TO sell much
wheat or course, many OF the growers
have little or none to part with II IL
much harder 10 Diy cash wheat than
futures. so that tie actual grain Is adj
vancng with grUter strides than the
option market which bears the brunt OF
tho speculative purchases. Were there
larger farm offerings and better accom-
modations for shipping. tho buying for ex-
port would probably have exceeded the
totals reported OF ltlte
Tho interior receipts 30 far this week
amount to only 2.so7. 900 bushels, against
10000 a week ago and 2.i36.oo0 last
season. Shipments are 100000 bushels
over those OF year ago and actual ex-
ports 100000 bushels greater for the
first three days OF tho week. These
statistics helped to spread tho bullish
sentiment.
Reliable reports that Japan had a
deficiency OF 90 900. 900 bushels, most OF
which was to make up with the Argentina
purchases, also had a stimulating effect
in esterdays market. A cable message
complaining Of insufficient rains In India
was received and there was apprehension
OF severely cold weather developing over
tho American winter wheat belt. How
ever, virtually the entire West has a pro
tectlng snow blanket
Corn---The advances were chiefly IN
sympathy with those scored in wheat
For time there was considerable irreg-
ularty on the speculative proht taking
and hedge selling. No serious setback
took place. however. The country offer
inEs actually diminished on the bulge
A better domestic cash demand was oh
served in reflection OF tho very cold wea-
Their through the West
Buying for exporters was less active
but bulls are confident OF liberal aggre-
gate business in the near future. The
commission house buying was not checked
by the statements 20 the effect that no
In the market. New high prices were reg
| istered.
Oats--Cireat STRENGTH was again eNhih-
tied. There was active speculative and
cash house absorption. A rumor that
Canadian interests were buying heavily
| for importation was current. although the
report that Canada was contemplating re-
moving It's import duty was denied. EX-
port sales to Europs were placed at 400
900 bushels Farm offerings were in
creased slightly at tho highest prices in
years.
Professionalism the whole the under
! lighter hog receipts due to the quaran-
/ tine at Chicago. The big advances IN the
| grain markets had Material effect
! Chicago prices: