The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-08-28
SHORTS IN SCI ItnBEA
WHEAT STAND TO LOSE
Must Either Bid Up Price Or Get Out
and Buy Actual Wheat to
Cover,

Chicago. Aug. 27.-Shorts in Sep
TENDER wheat at Chicago face losses
The open interest in that month 10
many times larger than the stocks Of
contract wheat held mere.
Shorts will either be obliged to go
into the pit and bid prices higher and
higher or they will have to send
agents into the country and make
purchases of the actual wheat bring
1t to the Chicago market and deliver
1t on contracts.
The story of the September wheat
short is only half told in the fore
going. The milling demand in all
positions was never as keen as ii s
at the present time Exporters have
been unable for some time to fill their
many orders as they have been vir-
tually barred out OF the market owing
to the fancy premiums which have
been paid by milling interests.
The fact that the stocks of con-
tract wheat at Chicago are concentrat-
ed and that they are held tightly
shows that any outside short will ex-
perience rough shedding in evening up
his position. One of the larger cash
houses in the trade sold an enormous
line of September wheat some time
ago, but whether this wheat has been
COVERED OF not, no one KNOWS out tDe
principals. This big concern expect
ed to buy the wheat and bring It into
Chicago and deliver it during next
month and there Is a possibility that
they have acquired II and now hold IL
where II will be available for delivery.
The army. of shorts in September
wheat however. put out lines when
prices were much lower than at the
moment and their losses are sharp
in consequence.
Those in the wheat market who
are long on September future will de-
mand delivery of the wheat and II Is
said that this grain has been sold for
shipment out of Chicago and that
those who bought 1T will expect de-
livery of the grain
It Is expected that instead of the
milling demand falling Off it will be-
come broader and more searching for
twheat and in this case there will be
further advances for the spot arti-
Gle. The foreigner has made only
small purchases OF -four for some time
past. but the Dutch government Is
again asking for bids on a round lot
and other countries are in search OF
-four at satisfactory prices.
1t has been said that farmers have
sold freely OF cash corn and that
country elevator concerns have also
Sol1 Freely Tor ten, twenty and thirty
day shipment. This corn will soon
make its appearance at Chicago and
on this claim there were sales OF
September and the deferred months
The corn to come forward will In a
large measure he sent out on export
or Eastern orders. contracts for which
were made several months since Very
little corn either here or 10 be re-
Ceiyed will be sent around on Septem-
her contracts as there is not enough
Of 1t to make any impression in the
way Of erentuE-up the position OF
the shorts Former estimates on corn
have been reduced and unless there
are heavy rains in some sections and
the drought is thoroughly broken UP
, there Will be further crop loss re-
ports
Both export and domestic buyers or
cats have taken hold Uberallv Of tho
cash article and this has been the
sustaining power in that market
against heavy receipts AT primary
points
Tho trade in hog products has
switched largely 10 lard Some of the
export concerns have bought that
commodity freely and Il is being sent
! 70 Great Britain via Canada The
trade in meats on export account and
the domestic demand for both COM
moditjeS is reported rs active