New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-10
Sustena nce


wheat sold at the highest price OF the
erop-s2-or 4tic up on the day. This
extraordinary upturn was attributed
mainly to active buying Of both cash
wheat and November, as well as Deem
Der contracts, In that market As re-
suit Of this markets in our country
we're also higher.
In Chicago the demand was partieu-
larly spirited for May contracts, and
they advanced more rapidly than De-
cember, the premium widening Use, as
against lac yesterday. But in the late
trading May was sold rather freely and
the premium narrowed to 2&c.
AT the outset il was claimed that
MANY holders of December were I'M
loading and taking May in its place. IL
was asserted that this switching was
prompted by the continued scarcity OF
storage room and the high rates Oh IN
suranee. Moreover, it was pointed out
that the May had been selling too low
as compared with the cash and Decem,
her. In other words, the wheat could
not be carried six months prontaoiy
excepting at much higher premium.
In some quarters it was claimed that
European agents had contracted Tor
more than 100000 bushels OF cash
Grain or November contracts, and pos
sibIv some December, this week. IL Is
the consensus that the bulk will be
sh;nned 70 the seaboard as speedily as
possible and forwarded as fast as ocean
freight room can be secured. The
activity for foreign account Is attrio-
nted partly to continued high advices
from Argentina, where there was an
advance of 3Ac. This was based on re-
duced estimates as to the probable
surnlus. IL is now believed that 1t Will
be not far from 100000 bushels. In
italy the weather has been unfavorabie'
while in Australia rust and dryness
have caused deterioration. In addition
II was pointed out that the acreage IN
Australia had been reduced 10 70 ~
per cent under last year.
In this country primary receipts con-
tinue small, and especially at spring
wheat centres, while shipments are
fairly large to consumers both In TINS
country and abroad. During the day
there were many erratic nuctuations,
advances and declines following with
startling rapidity, indicating active
liouidation for both accounts. As q
rule, however, values were generaily
about &c a bushel higher than Wednes-
day night. =, c, v
close. day before. ago.
c..h. (cents) (cents) (eents
New York;. 2.oo14 ''sI '-<'
Chicago. Dec. .. 1894 1875 1854
Chicago, May. 1925 f.ss 1!o41s
Carn--Corn was decidedly unsettled ana
feyerish. bat generally higher, prices rising
nearly 8 cents bushel. This Is party az
tributed To insignificant stocks and alssp-
pointing deliveries by farmers AZ country
ststions. Furthermore cable advices were
Encouraging, European markets being hisn-
a. IIverpooi rising Cd to one shilling owihS
chiefly TO a material advance IN Argentina,
where the crop prospects are poor. owing 70
drouth and locusts. There were uoe
light and temporary recessions. when "e'e
attributed TO longs taking IN prons.
In some quarters the upturn was attrio-
,,sd 10 moderate rains In the Central west
md nsrtly 10 the unfavorabls trend OF the
ofacial crop report, which estimated the crop
AT onIy 2.s43. O00, 900 bushels. against over
a 900 900 600 bushels a year ago. Then TOO.
y.-r, reserves are estimated only $685.
600 bushels, against 100000 bushels
wear ago. There are fair export orders here
n better limits, but FREQ trading Is nm
dered BY the scarcity and high cost OF freight
room. -, a., ~.
Cash: close. day Deiofe' rso'
New York. mann. 1.foA ITO 10
Chicago. D.e~mbsr. .siH $50 -sssN
Chicago. Nay. .ssat 80 SPA
Oats-Thsrs was q rising tendency In the
oats market. prices being l &c J. &c higher.
This was partly In sympathy with the olg
rise in corn and partly owing 70 encouraging
cables. European markets being higher. This
latter was mainly ascribed TO the receipt OF
further unfavorable reports from Argentina;
where much deterioration has occurred. and
hence the exportabls surplus Is placed at
only "a, 0oo. 900 bushels. II Is therefore real.
lied that large quantities will DO required
for shipment from this country to Europe.
and IL Il runnorsd that close TO . million
bushels were booked Wednesday night and
yesterday.
Cash. close. day BEFORE. ago
New York. ........ .soH .6s,4 ava