The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-06-03
THE GRAIN MARKETS.
New Lows for Whcnt-Grrmnu
Naval Victory AGAINST rirrs

Wheat values dropped again vos,.r-
DAY The greater part Of tho decline
took plac" Just before tho market closed
II was cTised by tho reports OF au i'm
portanf German naval victory. I.for.
this there was selling on the gcncrt.Iv
favorable weather conditions t~h-olghou,
tho country and on tho SNOW report.
which was not suggestive OF as small q
c-"o as mar" have hce- counting o-
This authority estimated II" viurcr Weld
~ 49, go" o"o bushels. artt,e' - .ooo.
ono last wear. and IN" spring wha4. rrup
81 :id."0o.ooo bushels. against 35s.0o".-
o"o IN tn" prcvious year. Bears ',pr
courage from ~" portion OF the Snow
hcures Indicating a srr.r. wheat ar.
de'reasa OF only about . per cent The
wheat list held steady NJ times. due 10
short covering. there being n Nudeucv
20 even commitments over TN" holidays.
All or the important grain markets.
Will - closed to-day. Tho chicago
market will also ~ closed on Nonda v.
Vow that prices are close - the dollar
mark at chicago there arc o0cr1.ors
who are modifying Their hear.~h views
They puiu, ont that wheat levels AZ pres
ent are { 10 - cents under thc prices
OF q year ago, although the present crpI
outlook is materially under last wears
promise. Il IL said that accepting snow
crop estimate the wheat yirld in tho
t'rit,d states Will be 90. 900, 900 bushels
under The outturn ~ the previous yea.
and with tho 90 Per cent area decreaS,
in canada another l0n. OO0. 600 bushels
Will have 10 hc added 20 tho reduced
yield IN the United states. The. ui,r-
ators believe that this suggested short
age 81 316. 600. uO0 bushels should easily
coun;cract the influence Of lll-ral wheat,
supplies In the United States, which are
coussrN9ttivcly given AT about li0,o0n. oon
bushels more than the short supplies OF
a year ago. and also III" fact THAT Can
ada is credited with a supply 90 about
$4,000. 600 bushels greater than last year
Tho Australian Visible supply ~ vrcr,
amounts 20 5000. 0uN hu-hyl-. A. trtY,.'
5000 900 N.' year and Argentina o..' A,s
q larger reserve. The Argentine ">Io''
,h'e surplus this season was estimate 80
100. 400. Uor. or about the same MS tla' g
a var ago. but inc expert, ~ ~January
agSins, ~. ooo. 0oo IN 1913 The genera
wheat acr",Ees through Europ" are he.
], was Ntso SAID IA suIne quarters that
he r,r"rt"l German naval victory cG"ld
The theory Il that while rates and general
shipping costs might rise with tho mora
hosarlou. shiprins conditions. foreign TN
with their position and 'her" might h' Il
greater amount 81 reserve buying uuInr
~" fear OF further interference" with ship
E,por' huy'ns yesterday wa. llrh' tive
'Nk'nEE h"tNE 'S'l'nN'Hu Mt ahO, ono bushels
Rr1dsirsetN EXPORTS for the week were
H,370.Uon bushels. against 100000 last
year The estimated total since july :
j. ioS. ooo, 600 bushels, against SIS. 900. 900
last year,
corn Tho marie, responded 20 the h-eak
in wheat selling was heaviest on tn re-
ports 81 tho German naNal victory Good
weather conditions contributed 10 the do
cline, Country edvicas are that tho Clegr
AMI warm weather through tho West "a
eliminating NOR" a. less farm selling
Actual receipts a." shown - no special tn
crease, however. There was evidence % a
hotter cash demand A. yesterdays lower
prices. but nothing was heard Of eNpor:
iutorcs' aud. In fa,'. Tho foreign nark"'s
W"re weaker. North American exports fnr
the week were 900. oNn. against 600, 600
last year The total since july Is 20
600 ,oOo BUSHES. against S,0o",o 600 n year
ago
0r's The action ~ other markets wts
against the 'st Export huviuG h"'i
prjre1 fu- q TIN" Foreign 'pklnTs V"r"
placed at 1000. 0N0 bushels. iuc.uliUg sutuc
business lat" THURSDAY. Snow estimated
tho cron a. 1880, oUn. 600 bushels. against
l.jin, 600, 900 last year, THIS shnrtRg" ~
partly offset by liberal farm holdings NJ
present
PROV sion. Tho market was subjected 20
selling pressure from packers ana specu'h
tive interests, Fears Of lutnrrup'i1u 10
shipping caused scattered illuiidtiuu, u'
dtd tn" Disappointing d""r"ns"S IN the
Chicago month. stock statement, phrtlrl
lurlV NJ regards the meat holdings. Chicago