The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-04-02
CASH WHEAT SITUATION
IS STRONG IN CHICAGO
Miiicrs and Exporters Stand Ready to
Ah~orb Every Pound of Desirable
Grain.
NO GENERAL SPRING SEEDING
Foreign Countries Arc Greatly In Need
of Corn and Continue to Do Their
Purchasing In United States.
BY JOSEPH F. PRITCHARD.

Chicago. April 1.-The cash situa-
ton In wheat has never been as strong
in the Chicago market or elsewhere
as IT is at the present time. This con-
dition will continue to overbalance all
else in matter of controlling in
huence. Millers and exporters stand
ready to absorb every pound of de-
sirable wheat and 1t may be said that
a great deal OF low-grade stuff that
! buyers refused to consider some weeks
ago has been sold of late. II is gen
orally believed in the grain trade that
the wheat surplus will be quite small
before the appearance of the new
crop.
The heavy losses of winter wheat
in Nebraska has caused the Omaha
grain exchange TO make every posi-
bic effort 10 secure enough spring
wheat to replace the winter wheat
losses. Committees have been APP
pointed to make an effort to purchase
spring wheat, but a message received
by Hulburt. Warren and Chandler on
Saturday said there will not be
general seeding of spring wheat. as
II Is too late to secure seed Those
who wished to re-seed their wheat
wanted the seed delivered at a GER
tain time, which could not be prom
Used nor the seed guaranteed. 1t is
in our own Northwest as well as in
Western Canada will be we'll under
way by the latter part of this week
and that this work will be hurried
along.
There was a goodly increase in the
receipts of wheat at Western mar
kets last week over the previous
week. the figures being SPAS, 600
bushels and 3.135,000 bushels, re-
l.y,
We're nearly seven million bushels. A
great deal of the grain going to make
up the Western receipts last week was
Canadian wheat and large quantities
OF that grain are being ground into
-four in bond at Minnea polls and other
Northwestern points.
Held Under Cover.
While tho business wheat for for
cieh account Is being kept under cove-
insofar as possible, the British com
mission as well as the Belgian Relief
commission are absorbing every pound
Of wheat that ii is possible to secure.
Their purchases last week were on
large scale. but not more than one
fourth of the transactions were made
public. They have also been heavy
buyers OF -four in all the markets OF
the United States, whether 1t was pos
sible to make shipments or not. The
assurance given to foreign countries
that the United States Will make every
effort possible to keep the sea lane
open and that clearances will more
than likely increase has been a great
help to the markets on the whole.
1t is expected that many of the mills
which have been partially or wholly
closed down Will again resume opera
tons as the prospects are that liberal
shipments Will be made not only from
the mills but from the wareht uses of
almost every section of tie country.
Ali the foreign countries are greatly
in need OF corn and they continue to
make purchases here, Notwithstanding
the fact that they already own liberal
quantities. which they have been unable
TO move because of the car and vessel
scarcity. II Is generally believed that
the amount of corn held on the farms
OF the United states, as well as in
country elevators liz smaller than gem
orally credited
oats will continue to follow the price
changes In corn. as that grain is badly
needed abroad where there is a short
age.
The position OF hog products. as well
az hogs, IL likely TO continue strong,
from this time forward. A great deal
Of lard and ribs have been purchased
in the pit against cash sales for ex-
port and the supply of hogs at the
yards is pretty well absorbed by Cana
dian shippers and exporters.