Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-02-28
TREND OF WHEAT
CONTINUES UNCERTAIN
Political situation Abroad md Crop
News ON This City VIII Keep
Market Stirred I'm.
| Spccinl to Tho .rincs. ni.nntch

Especial to Tho Times Dispatchj
CHICAGO. February 27.-Thc trend
OF the wheat market will continue OH
TIC uncertain list Tho political stu
alton abroad. coupled with crop news
on this side and tho export trade, viii
Keep the market well stirred up.
The drawn-out liquidation by longs
an wheat has cvcncd up conditions no
uttic, ana whilo thcro arc many moro
bears than bulls, there is. no way of
'eIDhS ms TO tho possible action of tho
market. Enormous quantities OF wheat
have been purchased OF late by OK
nortcrS' ana thcse purchases would
haNe been larger with ample vessel
room on the ocean with which to han
die IL.
The wheat bulls are sanruinc OF
movement in their favor ut :, not far
distant day. Many unfavorablc crop
:cports have been received from tho
Far Southwest and South Some or
these have been from wintor-kiI,inr
ana others from flooded districts. and
generally speaking. the acreage in ali
sections has been more or less re-
duceu The report issued on Friday bv
I'M, me Modern Miller showed detcriora-
tioh IN Texas from green bugs and
Winter-killing 1t says also groom
puGS are scattered widely over that
state except III the Panhandle. where
INC crop shows the effects of long
drawn-out drought: that under uost
ducc only half a crop; that along tho
Illinois and Ohio Rivers large mum
dated areas are in doubt and that un-
favorable reports are coming from
southern Kansas. Southern Illinois and
southern indiana. 1t says also thar il
is too early to forecast accurately us
l" the crop north OF lines mentioned
According 10 the latest cable adyiccs
from Broomhall and other authorities
.'eioSs inc waters. conditions there ar,
more bullish than bcrish, and they
volunteer tho opinion that there vii,
he continued dependence OF importers
on North America for supplies
ihe open interest in wheat has hcoD
sre"'iE reduced on The heavy and gen
rrai liquidation by longs In addition
L" this heavy liquidation there we're
safes against the actual wheat TO come
forward
Although the corn market has sold
downward because OF the larger re-
ceiptS IN all positions that cereal has
Il great many good friends at its back
nose who watch conditions closest
from year 10 year advance the opiniop
mat with the rush OF spring farm,
work, which has already been com
menced in the Far Southwest. tho
movement Of corn viii be cut down ma
terially, and in case OF any iuproyo
mcnt in tho export and domestic do
mhnd for cash viii help values no
little. '
more or less caution is likely To u.
seen In the market for oats. because or
M ~ ,a's" "Tailabl" supply in the
Inited States. coupled with Tho .nor
nous quantities still held in Canada
ana which viii h. forced upon exuori
buyers AT the opening OF ,naviration
hurr these conditions there is IittI.
IN which to take on large quantities OF
futures and hold them for a Dron,
Inc hog market is likely 70 continue
as potent factor in the price changes
In hog products. The matter OF suer
u!a'ion IN tho provision pit has been
,' OF lhte' with the outsider an on
locker instead of a 1articipnn, p.c,,
crs nave been on both sides OF the mar
ket at various periods, and the cSpor,
demand for sailed meats and lard has
attracted more or less attention during
,he past fortnight, and has helped TO
steady values