The sun., 1919-08-15
PROVISIONS AT NEW
LOWS AS GRAIN SAGS
Agitation Against Living
Costs Results in Heavy
Liquidation.
HOG MOVEMENT LARGER
Position of Foreign Exchange
Market Is a Big Drawback
to Exports.
HOG MOVEMENT LARGER

The grain market this week has been
under decided pressure. with corn prices
down to the previous low levels on the
May delivery. The weakness in corn has
been accompanied by an almost corre-
spending break IN other grain and de-
cline in provisions to new low levels for
the season. The declines have been
brought about by a distinct liquidating
pressure, Influenced by the agitation
against living costs, and in provisions
the report of seizure of holdings caused
algreat deal of apprehension.
Stocks OF hog products in the country
by the last reports were more than
billion pounds, or the product of almost
1000, 900 hogs, il the entire dressed prod
uct was used. The stocks. however, rep
resent the cut from a much greater num-
Der of hogs, ms the stocks include only
the principal CUTS.
The movement of hogs has apparently
begun again on a heavy scale, due IN
part to the resumption of better traffic
conditions In the West, and there has
heen a pronounced break In hogs from
the recent high level. Cattle, which last
week made new nigh average level for
the week, have also shown decided
reaction. s
DeeIine I'm Meats ana Fats.
From. the high point the general de-
cline In meats and fats has been from
two to about six cents q pound, lard
showing about the most decline, and this
decl,re has. been reflected in vegetable
oils both domestic and imported.
Grains decline, which was violent in
corn Yesterday. was due to the loosen
ing up by the country on account OF
the assured position OF the new crop.
One Of the periods to sell corn, accord
ing to the operators who sell on the
period scale, is after August 10, on ac-
count Of the fact that the new crop is
virtually assured at that time. II there
has been any damage 1t has been as
counted and developments after that
time are likely to make for more corn
rather than less.
Rains since August 10 have greatly
inaproyed the situation in many sec
tons. Some authorities, however, still
believe that the crop cannot make more
than 100000, 600 bushels, but others
are confident that with a late frost
there is a chance for about 5000, 100000
bushels. Such crop. with the enor-
nous hay crop, means a great quantity
released to come. into commercial chan
nels.
Held Up by Export Prospects.
Oats, rye and barley have sympathized
with corn, but there has been the pos
sibility of shipping abroad and in fact
some actual export business from time
to time which has served to hold the
market The export situation, how
ever. is still a difficult one.
Freight on oats Is still about 40 cents
bushei to England and so cents a
bushel to the Continent, while the
freight on rye to the Continent is about
Sc cents bushel and on barley about
46 cents These rates are virtually a
cent pound and are distinct handi-
cap.
The position of exchange is working
steadily against export trade. The de-
cline in exchange rates to the Continent
has within a short time been equal to
5 to 10 cents bushel on the value OF
the grain laid down over there and this
has about put an end to any recent ex-
port trading.