The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-29
THE r A MARKETS.
Another severe wheat slamp-
Heavy Liquidation-Corn Breaks.

Another sensational break In wheat
yesterday disconnected the entire trade.
The decline ranged from 3 to 9 cents a
bushel. For a time the export takings.
the heavy short covering n the fresh
speculative buying based on the greatly
strengthened technical position of the
market and crop scare theories main
tanned values or at least made for re-
sistance 30 the depreciation OF values. but
toward the close of the session a fresh
drive was made against the list and
quotations tumbled.
Many marginal accounts We're again
thrown over. Some Of the active wheat
deliveries are .lown % cents a bushel
this month and virtually all OF this re-
adjustment has taken place In the past
ten days. The May delivery ut Chicago
Is 80 cents under It's nigh basis. The
extent Of the declines has convinced
many that the market holds COMPARE
lively few long accounts OF importance,
although. on the other hand, bears are
credited with having reaped q harvest
and their commitments have likewise
been reduced.
The political reports may have had
exaggerated effect on the wheat levels
yesterday. but with support withdra wn
on the buying aide. the uncertainty over
the ACKNOWLEDGEMENT situation and the
German submarine question sufi'cei 20
wash away the covering on stop loss
orders for n number OF commission
house Spectators. Just at the close OF
the session the cabled reports that Ger
many's policy would not be to SIM YES
sells without warning tended TO partly
restore confidence.
The export buying OF wheat for the
day was estimated at 1000. 900 bushels,
Of which about 500, 900 bushels was
Ap,evfCan vratv 10 60 understood that
there would have been a greater export
business but for the dificulty In pro-
curing freight room and the railroad
embarRoes. There was a break OF Z 10
8 cents n bushel In the Liverpool mar
ket. although the weakness abroad was
not as serious as that on this aide
Obviously any interference with the ship
ping situation would be bullishly con
strued In foreign wheat buying quarters
There az. authorities IN the trade VIII,
believe that farmers will refuse to sell
their wheat at current levels. especially
tenor. Other. declare 1 ,Sst in "% View oe'i OF IN,
OF the new season growers will have &c
inGs The interior receipts OF wheat yes
terday totalled e.aso.ooo bushels, agains
100000 a week aeo and SOS. 900 last year
900. .sainst s..'oo.ooo in the p%reviou. ~eei
and 10000 900 a year ago. when the de
crease was s,01V,V0O buehele.
Corn-Msximum declines IN corn wer'
= cents . bushei. The weakness was a.
cribed to the pressure of liquidating sale
for the account OF those who became dis
turbed by the undermining of wheat values
II was said that the country was q hc,.v,
seller. but pressure came from varioul
commission houses. partly for Wall stree
account. Nervousness over the poli,ics
situation. large receipts and the ~raiircs'
emoarsoes. which are interfering with tn
acceptance Of export bids, were bearisi
items Forced liquidation came upon III
market during the early session and nea
the finals. Sentiment at present Is yer,
much mixed. The receipts for the dn,
were l,3il,000 bushels. against 1890. 90
bushels "A week ago and 500. 900 n year age
The visible supply totals 2l.s&0. 900 bushels
AGAINST 1860. 900 In the previous week an,
81. 900. 900 last year.
Oats-The sharp break In other market
had pronounced effect on the oats list
Liquidation was very heavy al tline- Tn
support came from shorts Political con
ditions were against active fresh buylnl
for speculative account. Export bids wer
fair. but no large business was reported
The Visible supply decreased ae5. 90
bushels for the week. the total being 10,
0 1000. against 80. 900. 900 a year ago.
Provisions-The market was influence,
BY the weakness In grain, although lar,
proved an cxce ption. Hog receipts wer
not heavy and there was evidence Of bette
feeling In ape culative quarters for lard.
ChlcaRo prices.