The sun., 1916-04-23
THE GRAIN MARKETS.
wheat Breaks On Political Fears
Eject IL wide.

There was scarcely a rally OF i'm
portance in the wheat price tendency
yesterday. the market being subjected to
u great deal OF selling pressure which
Rme from large and small interests.
tncovering Of stop loss orders prccipi-
taxed the downward trend at various
times and II was apparent that enough
uncertainty was felt regarding the gen
cral political situation TO lead to a cur
'aiitnent or obligations in the market
pending the week end ncws. The drastic
declines in the stock market had pro-
nounced influence in grain circles and
the slump In the war stocks AZ usual
led 10 peace rumots.
The unfavorabie crop reports were
instrumental IN short covering rather
man new buying. In the past few days
there have been some very bullish mes-
sascs sent from Indiana. Illinois and
Oklahoma. These States have wheat
prospec, OF only 40 to so per cent. OF
mat OF last year. according to the crop
experts In addition there have been
messages from parts of the Northwest
Of "A sensationally bullish character rela-
tive to the latencss of the season and
prospective heavy acfeage reductions. 1t
Is said that the backwardncss OF the
spring wheat season has resulted in
farm implement manufactlr ing con-
Germs selling greater number Of discs
than ever before.
The crop messages received yesterday
ever. there we're more settled weather con
| ditiMs through the American Northwest
and Il Ia believed that a week Of clear
| weather VIII result In rapid advancement
Of farm work A Kansas state report
showed q wheat condition in Kansas of
| iication being 49,. 600. 900 bushels. again =,
| lo6.ooo.oo0 actually raised u year ago. The
crop aocounts from Kansas a. sent by pri.
| Nate authorities have been very faNora BILE
| on the whole. but some authorities insist
| that on account OF the large quantity OF
! poor seed utilised this year tho trade will
| state.
The farm offering. continued rather free
/ specially from southwestern points Total
| interior receipts were $500 900 bushels
AGAINST s;.oo.ooo bushels in the preceding
, week and $4,000 900 last year Prosp,cts
, are for moderate decrease in the ,!.ibis
| supply statement on Monday.
| Ihc export business yesterday was light
| although declines brought slightly bet.
Yer inquiry for Governmental account
roreisn markets were closed on account OF
corn--whie leading. elevator westerr
| houses were moderate buyers OF corn future,
Tor time. the market gradually Responded
| TO the break In wheat The unsettled politt
"a situation was agains, outside support
| ,rhere were reports from official circles I,
a"sSs g. ,nsrtss ina, the area in that s;stS would
were for favorable weather conditions anc
II was reported that after corn piant!ng
| offerings Of old corn would increase In
, ,erior receipts for the week we're S.iehti,
| larger AT i.i.o.o00 busheis. against .ssO. .0Oi
| last year.
| oats-The selling pressure In othei
| markets extended TO oats and fair decline,
| were registered. There was no important
| fresh export buying. although the clear
| ances Tor the day were liberal at 200 ooi
| bushels. AdNices from the IVES, are thai
se,dinR IL rapidly nearing completion
Provisions s-tueNpe,t strength wa
! SHOWN In tho provision is'. Buying va!
for pa kers and shorts. The stump In N.
grain markets caused light specul AAiv
| selling at the higher ieve,s. ChicIg,