The sun., 1916-04-20
THE GRAIN MARKETS.
wheat Declines on Political situa-
tion-Other Grains Easier.

The maximum losses In the wheat list
yesterday were 21,c. n bushel. and these
were registered before the Presidents ad-
dress in Congress became known There
were frequent liquidating movements for
the account OF Wall street, Western and
country wheat holders, based almost en-
tirely on the strained American German
political situation. The realization that
May delivery day for Chicago contracts
was near ~ hand, and that all grain
markets will be closed tomorrow. while
the important other contract markets
will also be closed on Saturday, led to
an evening of commitments.
The market had a partial recovery.
but there was the same mixed sentiment
that has been prevalent for the last few
weeks. Relative steadiness In the North
western markets, which closed at declines
OF only half to a cent bushcl, was
not overlooked. rs the failure OF those
markets TO slump az dras,ically as did
others reflected the bullish new crop
start. Showers fell again. over various
spring wheat districts, and the forecast
was for further rains, 40 that the trade
was more impressed with tne private cs-
Inmates that the spring wheat acreage
would be cut generally from to 20 per
cent. this year.
II 10 figured that . reduction of this pro
portion might BE- equivalent to s1 900 bush
mates have suggested an outturn of l5n Don. 100
bushels or more under that Of last year. al
though conditions have undergone better.
ment, according TO the weekly weather hui.
le,in. and some authorities believe that Can;
ada will do well 10 raise within NoV'o 900
bushels of her phenomenal crop of 1915.
1916 These shortage po-sl hilltles totalllns
asi 900 900 bushels for North America, be.
come more striking when the foreign crop
news 10 considered. Acreases in the United
Kingdom. France. Austria. Russia. Australia "a
and Italy are expected to he much loss than
the scresgcs put in wheat year aeo
export business being placed at $4,000 bush.
els Soahoard clearances stu average about
million bushels n day The farm move
mcr' continues at more than double the rate
Corn The market slowly reacted. ~ sym
pathy with the downward tendency Of wheat
There was some support from Western run
interests. hut the best buying came from
shorts and political conditions deferred out
side support Advices indicate snt'e m
crease in the corn area. hut the season IL
reported by the Government to b.. ten 10
fifteen DAYS late in some sections. Tho start
of the crop III the extreme Southncs' was
not favorable The foreign markets continue
the Argentine are siill noted
Oats-SpcculajIve trade Was regulated by
the fluctuations In other grain. Part of the
cash house buying was said to he asaln.t
claimed u light export business yesterday,
following 3o0Oo0 bushels on Tuesday. the
buying during that session being principally
Of Canadian oats There were no crop com
plants received yesterday, although the mod
era'ely increased areas wore again spoken of
Provislons-The unsettled political srua'
tion induced scattered liIuidatton. There vas
| not much hedge selling some layz" -1les OF
| cash product for export have cofirbuted ~
the recon, Seadincss Of the market Chicago
| prlCes.