The sun., 1918-09-25
VISIBLE SUPPLY OF
WHEAT NEAR RECORD
Increase This Week Amounts
to 100000 Bushels;
Total, 79,531,O0O.
EMBARGO rs STIFFENED
Stocks at Interior Points Yet
Large and Car Congestion
Is Acute.

The visible supply OF wheat showed
an increase this week Of 12,oe7.ooo
bushels. bringing the American total to
1881. 900 bushels. against 6,s56,o0o last
year. The visible supply Is the largest
on record. excepting at one period many
years ago, when the total was slightly
moro than 1000, 900 bushels. The ac-
cumulation has been rapid. At the be-
ginning OF the season the stock at termi-
nails was less than 100000 bushels. In
the next three months the stocks In
creased to the figures shown, while the
exports of wheat have been much in
excess Of last year. and the amount
milled has greatly exceeded last years
Persons who watch the movement closely
believe country and mill elevators have
increased stocks almost to the proper
ton OF the increase at terminals, and
that the actual movement from farmers
hands has been of record proportions.
Farmers were apparently apprehensive
that unless they brought their wheat in
there might be some cnange In the buy
ing price, and they might not be able
to get the full prices named at the termi-
nal markets. Recently the apprehension
has apparently been quite pronounced,
resulting In reports that farmers were
selling at unusual discounts under the
terminal markets in order to get ready
money. To prevent the farmers incur
ring unnecessary losses It Is understood
the Grain Corporation has advised the
people to hold back their wheat until
the embargo conditions are raised. and
they will then get the full market price.
Embargo conditions are more drastic
than they have been. and 1t is'extremely
difficult to get permits of any kind.
Stocks arc 30 large at Interior points
and the car congestion so acute that II
Is necessary to move great deal OF
grain and unload large number of cars
in order to keep the grain moving freely.
| Large exports are reported from lake
| ports. instead of from the Atlantic ports
Grain. 1t is believed, is going out by
the way OF Canadian ports.
Export demand for oats continues
active. Prices are being maintained by
the domestic and export buying. Ship.
ments are still below the programme
but it is believed the movement from
| the country will increase rapidly with
a change in the embargo conditions and
the permitting of grain to move freely
| in the interior.
CHICAGO, Sept. 24.--Temporary stop.
page of the issuance OF permits for ship
ment of grain from country points hat
! a bullish effect to-day on corn. Closing
prices were firm. asc. to 1c. net higher
with October s1.47A to $1.47as and No
vember 81 As to SLASH. Oats finished I'M
changed to u q sc. lower. The outcom,
In provisions varied from S5c. decline {
| SC. advance.
Inasmuch as the corn trade had beer
expecting liberal receipts, the sudder
reversal Of this outlook gave an immedi
ate advantage to the bulls. 1t was ex
planned that official figures showed too
large a number of cars waiting to b,
| unloaded at the eight leading markets
and that the avoidance of congestion
! was OF the utmost Importance. Som
uncertainty as TO how soon the clearinl
/ up Of the tracks would allow a resulav
ton Of the rural movement led to
| sharp reaction which was emphasized b,
the favorable character of the war news
but profit taking by shorts. togethe
with assurance of decided falling OF
In supplies for the time being, brough
about later fresh upturn in values.
Commission house selling checked ad
vances in the oats market Receipt
were small and In good demand.
CORN--In the local cash market No.
| yellow corn was quoted at siTs&; No.
yellow. si.7i&. c. Z. New York.
OATs-In the local cash market price
were steady standard and No 2 whit
quoted at s5b TO SEC; No. 3 white. SIS I
sbrc.; No. 4 white. s4h to SIC: ordinaT
clipped white. Sc to SIC. all elevator.
hYE-Narket easy; No. Western. ~
! C. (. New York
BARLEY-Nsrket easy: feeding, 3i.1l
milling. si.l5 c. I. New York
HAf-Market strong: No. !. $40: NJ
2. 81; No. 3, sI.9O.
CHICAGO PRICES