The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-21
NEW RULES AFFECT
VALUATION OF CORN
Deliveries on Contracts Must
Be Made on Track Instead
Of in Store.
PRICE DROPS THREE CENTS
Western Trade Paper Places
Wheat Crop at 100000
600 Bushels.

Voting on the new rule 10 make gram
deliverable on contracts on track In
stead OF in store had decided influence
on all the markets yesterday. Corn de-
clined about three cents a bushel. not
withstanding severely cold weather.
The question of delivery has been the
vital one In corn for some time. With
storage room in Chicago very difficult
to get, and with the large stocks OF
wheat and other grains already there, It
has been a decided problem as to where
to get the room for. grain for contract
delivery Under the rules the Board OF
Trade officials have had the right to
make grain arriving within two or three
days OF the end of the month deliverable
on contract on track, but the PROPOSE
ton as reported from the West Is to
make the track delivery regular.
II this were done there would be no
difficulty in making deliveries grain
would come in. be inspected and de-
livered in the cars. In some respects
this would be an advantage. as the
buyer might be able to ship the grain
without putting 1t into store and taking
IL out again. When cars are difficult
to get this is very helpful condition.
Not only the market for corn but the
market for barley was sharply affected
by the new rule proposition, and oats
were also easier.
report by a Western trade paper
on the wheat crop and the marketing OF
wheat so far this season was more
favorable on the crop than had been ex-
pected. The estimate placed the crop
In the United States at $40, OOo, 600
bushels. an increase over last years
actual outturn OF about 335. 900. 900
bushels This estimate Is 1000. 900
bushels more than the last Govern
ment estimate, and il is said to be
borne out by other private estimates
Taking this estimate OF 100000, 900
bushels for the United States crop and
the estimate of the Grain Growers Asso-
citation for the Canadian Northwest the
total North American crop Is l.103, 000,-
600 bushels an increase OF 30S, 900 900
bushels over the actual outturn OF last
year.
Out OF last years crop North America
shipped about 2sS,0o0,O0O bushels, so
that the export surplus this year might
easily be figured at more than soc. O0O, 900
bushels, which would allow for some in
crease in the normal carry over and
some increase in the amount OF dome ct ic
consumption. AS the export programme
does not call for any such exports the
supplies mean the accumulation of large
reserve stocks
CHICAGO. Sept. 20.-lncreasing belief
that the BULK of the corn crop was safe,
rega rdless OF frost. brought about a
sharp setback In the corn market to-day
after moderate upturn. The close was
heavy. u to ga net lower. with Octo-
Der l5oss to 150A. and November
147H TO 1i7%. Oats finished I.0S
on to j. advance. The outcome in pro-
visions ranged from 2oc. decline to a
rise OF SC.
Unofficial advlces failed to confirm
the Iowa weekly report that only 60 per
cent. OF Iowa corn was sufficiently ma
tured TO be out of danger from frost.
As result advances in the corn market
met with persistent selling, which in
cluded liberal holdings OF an Omaha
interest. This liquidation became a heavy
weight on the market, and much more
than wiped out gains which earlier had
been caused by frosts last night and by
predictions OF additional frost tonight.
Announcement that the exchange drec-
tors had prohibited further business in
the September delivery tended also to
handicap the bulls.
Oats finally eased down in sympa thy
oats market was due to continued export
demand.
CORN-In local cash market No. ? vel
low corn was quoted at tlsiA; No. 3 yell
low. fl.76S. cost and freight New York
OATS-Local cash situation was firm,
although prices remained unch anged
standard oats wer. quoted ut s6as5L, c
No. white, sHTS5hc: No. s white. 50 n
S5c.: No. white. ssb Isic.; ordinary
clipped white, sSr n s6iic., all elevator.
| RIE-Market steady No. . Western,
i.7S. cost and freight New York.
BARLEY-Market firm. Feeding, pls,
| and mating, $i.le, cost and freight New
York.
| HAY-Market firm. No. /, $50: No .
81 .s01lSj, and No. g. Si.65Il.75.
| Wheat, including -four, exports for the
week, according to Bradstreets, aggre-
gate 4,i57.6os bushels, against t.33tiis the
previous week and S,s4o,s75 last year;
since July l, 33.906,22S, against go, SSs.25s
last season. corn exports for the week
| I?,1l0. against ss,7s2 last week and 3ss,
| 2l3 last year; since July !, 5.563,l9l
| against 5000, $50 last season.
CHICAGO PRICES.