The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-07-14
FARMERS SHIPPING
WHEAT RAPIDLY
Material Increases in Move
ments of Grain First Two
Weeks of July.
QUALITY IS VERY FINE
Production of Mills VIII Only
Be Restricted by Their
Ability to Sell.

the vetoing of the wheat price bill in
order TO sell wheat. The movement Of
wheat from the farms. which was natur-
ally slow in the last week In June,
showed a material increase in the re-
ceipts for the FIRST week in July. and
the past week the receipts at primary
points amounted to 5.407 900 bushels.
against i,l32.oOo bushels for the same
period last year. At Kansas City the
receipts yesterday were very heavy. Re
ports from Kansas indicated that the
new wheat is Of very fine quality, test
Ing sixty pounds to the bushel and run
ming only to. 0 per cent. In moisture.
Mills are beginning to get some Of this
wheat. and II Is expected that the pro-
duction OF -four will show a very ma
terial increase from now on. This will
be welcome condition, as the -four pro-
duction has been very small for the past
two months. .. .Hr
Under the new regulations. mills wilt
not be restricted in the amount of fiou"
they produce, excepting by the actual
business condition OF their ability to sell.
SO great Is the eagerness Of some OF the
mills to get wheat that premiums of to
IA cents a bushel have been paid in the
Southwest over the Government basis.
This premium 10 Just so much deduction
nom the millers' profits. and some are
beginning to express the opinion that II
millers can anord to pay such premiums
there IL no hardship In the Government
allowance.
Reports continue very insistent from
time to time OF some change in the sub
stitute programme. Locally there has
been change In the requirements that
10 per cent. must be included In sales.
This was put into effect to get rid of the
surplus stocks of corn meal. and has now
been abrogated There Is no change in
the substitute programme, and none is
understood to be contemplated soon. 1t
Is possible that later there will be some
change. possibly in regard TO the amount
of substitutes required.
CHICAGO. July 1S.-Presdent Wilson'S
veto Of the bill to enhance the price OF
wheat gave a material setback to-day
to the corn market. Prices, however,
recovered somewhat. and closed nervous
u to &c. net lower, with August sl.61
TO sl.6l,s. and September s1.60% to
si6oit. Oats lost &c. &c. to lac, and
provisions sc. to zoe.
II was a foregone conclusion that de-
cided breaks in the value OF corn would
he witnessed as soon aStradins began.
A heavy overnight accumulation OF sell
ing orders resulted from news that the
veto had finally been, given effect and
that the President would be upheld
Recently acquired holdings In particu-
lar were liquidated without delay. but
the wave Of selling had spent its chief
energy before the last hour Of the ses-
sion. Notwithstanding buliish sentiment
had been further weakened by weather
conditions that implied a little better
crop progress. Week end covering by
shorts seemed to be nearly altogether
responsible for the moderate rallies
which characterized dealings near the
finish
Oats were bearishly Influenced by the
action of corn. besides arrivals for the
week proved tn be the largest at this
seaeon Ia more than five years.
Reports that the r-esid.n,
his action had been sustained by the House
In Washington were received with salts
faction in the grain trade, as opera ions
been delayed by TIE attitude OF farmers in
holding their wheat The movement. how
ever. has been larger than tho reports
primary points last week Increased over
1000, 900 bushels from the previous week
Harvesting operations are DTAEtCdilF com
pleted in portions OF the Southwest, aud
with threshing now in active progress and
no further Involvement to hold of Tor
higher prices II Is expected that wheat
will move with great freedom, as the Food
Administration has been bringing some
pressure 10 bear in this direction. The
weather has been exceptionally faVorG bic
for harvesting and reports on the quality
of the new crop are yer, satisfactory. Adj
Vices from the spring wheat belt vera IA
vorable.
CORS-Market experienced an early d.
cline Of about cents a bushel under Cnu-
tinued liquidation II was thought that
the vetoing of tho TAO wheat bill would
have a bearish influence on values. but on
the decline there Was quite active buying
and tho market recovered part of the !oss
closing &c. to ltc, net lower. In the 10
cal market cash corn was strong No. 2
yellow quoted at s2.l8+. No. yellow,
t2,os& cost and freight New York.
OATS In the local market there
was a quiet trade. with prices slightly
easier; standard quoted at sgtsc,: No. .
white, SsHc; No. 8 white, ssFssLc.; No.
white SSIssi1c.: fancy clipped white
sOae2hc; ordinary clipped white. seq
soc, all elevator.
RYE-Market steady: No. Western,
sl.s5 cost and freight New York.
BARLEY quiet: feeding. $40
q i.2o mating. H.3ogis5 cost and
freight New York.
HAY--Market steady; No. !. 1850
l,5O, No. 2, sl.ao9l.4O; No. a, sigLl5.
rurr ,cn purrpo