Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-01-10
VALUES ARE POUNDED
TO MUCH LOWER LEVEL
Hears Have Sold NIliiions of bushels,
Expecting Ia Cover shurt-
nse nt Profit.

Especial to The Times EiSpatchl
CHICAGO. January 9.--m hammer
and-tonIS" fashion the bears in wheat
nave pounded values TO much lower
levels. They nave sold millions OF
bushels in the belief that they vii! be
able. before the prcscn, week rolls
around. to go into the pit and cover
| their shortage at profits. There is no
assurance that they will not do this
but Whenever Il bear market is inau"u-
rated and nearly the entire spccula-
tive world is favorable 10 il. IT Is time
10 act with caution III making large
commitments OH the Scllin. side.
There arc two big factions in tie
wheat market nj Chicago at the pres
"nt time. The bulls have made money
IN wheat. while the bears have suf-
fcrcd losses. There is Z possibility that
these conditions may he reversed. but
10 the close observer the bears arc
likely 10 meet their Waterloo on ;hc
present movement. There are few
untmI ortans circum stances that will
favor the bun sid" Of wheat during the
week. The visible supply will show "a
smaller increase than for several rrc-
NiouS weeks. Chicago stocks will show
q smaller increase and receipts. not
only 1t Western markets. bet ut the
Northwest viii likely fall "ff 10 sma Her
promotions. In round numbers, -
"u".op" bushels of wheat were receive
at primary points last week. 6. 500 600
bushels III oNc"SS of the corresponding,
period wear ago
Tho public Is not in wheat on "a large
scale at III" present time. With the pos
Sihic exception Of some purchases YES
tcraaN on interior account. The pes
cnt weather points to tho fact That
wheat viii he desirable property later
on rs not only tho green rurs will be
IN evidence as q huh help, -.ut there
VIII hc mfavorable crop reports from
many sections, and these viii help
steady. il they do not EclD To advance,
values materially
1t Is expected that tho demand from
abroad for brcadstuTs will continue
on 81 liberal and possibly improved
scale, and ii is also believed there will
be big increase in tho amount OF -four
bought for export Foreigners have
| bought tho output OF some OF the
Western mills for many weeks TO come,
and this flour will he shipped abroad
rs rapidly as ii can he prepared and
vessel room obtained for its trans
, portation.
Fears In corn advance tho opinion
that the country viii sci! its surplus
81 old corn around present prices. as
! TIC export situation Is stronger and
the export takin-s are likely to ~. on
= large scale. The old bull crowd in
! corn will likely continu. to sell on
all hard spots In order 10 SECURE avail
able profits
With the improved inquiry 70, oats
by Eastern shippers, as we'll as ~
portcrs. there Is a lillrlihpoG hat
values viii continue firm. The move
| m"nt OF oats from the hands Of farm
crS and country elevators IL expected
TO increase on any higher prices.
Thcr" was - record run or hogs az
| 'hicaro last week. the total being $40. :
600 head. compared with Il previous
RECORD run OF 81, .o10 When this IS
! considered tho price held up. ana the
nnd"rtone was firm. The huy,n- pov.cr
IN the cash markets continued GOOD for
! hofh saltcd meats and larG which was
= steadytnS factor in the m:.rl;ct for
futures.