The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-03
THE GRAIN
Decline IN wheat Pric~s-Bett~r
Weather in Northwest.

The trend OF wheat values Yesterday
was In contrast with that observed on
Monday. Tina, tho weather conditions In
the spring wheat territory are dominat-
ing fluctuations AZ this stage * obvious.
II consistent with the %outloui FOR inn
proved conditions for sccdit values
slowly gave way and closed At ,bstan-
tai declines. The losses In the Mime
apolis market anced from two TO three
cents a hushel. this list having ad,auced
most during tho recent excitement.
Private reports from various sections
OF the American and Canadian north
VT were that the weather had turned
char n higher temperatures were ex-
p"Gted after to-day. The average dat.
for the completion Of seed uc raug,s
from May $ 10 -. so that I'm the event
Of . pro,racted spell Of good wealth. -
the spring wheat area ia ito pako'as and
Minnesota may not be decreased much
more than 10 per cent. and in the Can
adam northwest only about Is per cent,
Several prominent interests IN the
trade assert that they are bu.!!Sh on the
wheat situation. but anticipate somewhat
lower prices pending the Government re-
port on May 3. which IL likely 70 show
a good crop promise west of the Mig
sissipp! IN partial offset TO the severe
losses ~ IN" East and also on account
OF the change IN the climatic conditions
IN the Northwest. ON the other hand
The crop report Of Clement. Curtis &
co. was bullish. this placing the winter
wheat crop promise at 479. o0O. 900 BUSH
els. against AS. 600, 900 officially !nd,-
Gated last month and 655, 900, 600 bushels
harvested a year ago. II was stated
that the abandoned winter wheat area
wal 6.l2l.Ooo acres. also that the indi-
Gated loss In tho spring wheat area was
IL per cent. or 1867, 900 acres.
The declines in the wheat list vsuiA
nave oeen OF greater proportions but for
the insect complaints from Oklahoma and
Kansas state entomolos!sts reported that
the green bug menace had spread in vart.
Gus counties OF Oklahoma and southern
Kansas as a result % the recen, cool,
damage IN the South west was serious
starring about April % ana ending about
mi4-May. when good weather finally set
Increased -spor, euyins OF ~h.a. also
hated the, downward tendency OF the
timated at /, 10000 bushels. almost entirely
OF Canadian wheat. The Impressions is that
buying OF Canadian whea;s Will continue
active. as these grades are materially
under a basis OF Argentine wheat due 10
ne freight rate OF more than 81 a bushel
from Argentine to Liverpool.
The worlds wheat visible supply de-
creased $4,000 900 bushel- for Tie week:
stocks Of wheat In the United states are
bushels, against Is, 900. 900 last year In and
anoat for the United Kingdom SIS, 900. 900
bushels. against $1,000. 900 last year.
.Corn-rhe small net declines at tn. close
ot tho session. were caused primarily by
tho reaction In wheat and prospects OF
better weather for planting. During tho
fore part or III" day there had been more
or less short covering on reliable reports
OF the wet weather In various Western dis
tricts delaying ploughing aud planting.
There WAS also elective support from Ar
mour interests. Rumors of export business
were persistent and light trades with for.
eign interests we're contaminated during
the day. The fact that Argentine freight
room Is scarce and the rttc from Argen-
tina TO English points Is about 81 per
hushel, against n rate of only slightly
more than 40 cents from here to LIVER
pool, explains the foreign Inquiries,
Oat,--Ths Chicago May delivery held
steady, other months were af-
fscted by hedge selling and the declines
in wheat, Generally tho crop news Ia IA
yorable, but there is less heard OF an area
and In the Clement. Curtis re-
port tho acreage Is given AZ about the
same as last year. Export business of
800, 900 bushels was claimed y~stGfdny.
Provisions--A weakened teohniuI poss.
tion partly accounted for tfN decline in
provisions. There was also evidence OF
s-iiins foT ..aa!! packers. TIE aas :u5ys.
ment has increased slightly rs "a result OF
the higher basis, Chicago priccx.