The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
GRAIN MARKET.

Sharp declines were registered yester-
day in the wheat market as the result
of a general selling movement, which
carried prices to to 71a cents less than
Saturdays final figures. but they raj
lied "a 10 2 cents before the close.
Chief factors responsible for the selling
were large receipts and weakness in for
eign exchange. The Southwestern farm
er was reported as moving heavy con-
signments of wheat. and II was an
nounced also that the markets in that
section had heavy receipts. The increase
in receipts was not confined to that sec
ton, however. as the Northwest wired
that more wheat was coming into its
terminals. Although the movement in
creased demand decreased. Exporters
were hampered by falling exchange
rates, although 1t is probable that with
such a break some wheat was worked
for foreign countries. The flour demand
is poor. as Is evidenced by further re-
auctions in flour prices. and millers will
not buy under those circumstances. -
Traders We're encouraged to sell also
by a larger increase in visible supply
than had been expected, and the drop
of five cents in Argentine grain. The
failure of a large exporting firm was
another disturbing influence in the mar
ket. The appointment OF temporary re-
ceivers for the Bolle Watson Company.
Inc, came early In the session. when
stocks and cotton were dropping and the
air blue with bearish news, but It would
have had the saine effect had It come
later. BECAUSE the market was purely a
sellers market. Rallies were feeble and
largely due to shorts taking profits.
Coarse grains were firm in the face Of
a In psh Indannt1dant
strength in corn resulted from light re-
ceipts and strong cash position. This
market was helped by considerable short
covering and evening up before the Gov
eminent report. Unsettled weather con-
ditions also influenced trading.
The Government figures for corn were
construed as bearish. A crop Of 3,199,-
$4,000 bushels was indicated in con-
trast to 3,216,192,00 last month. Re
serves on the farm were shown to be
LAP. 211.000. and those figures, with the
visible supply and the crop estimate, in
dictate total supply of 1851 900, 000
bushels. against 1891, 100000 a year
ago. The only figures for wheat We're
weight bushel, which was shown to be
57.4 pounds, against 56.3 last year and
contrast with 5S pounds. the ten year
average. The report showed the weight
a bushel of oats to be S3.1 pounds.
against Oil pOundS last year ana o@.4
pounds, the ten year average.
Better cash demand. unsettled weather
and smaller receipts helped the oats
market, which closed unchanged, to u
of cent higher.
Provisions were weak throughout the
session. due to absence Of support and
lower hogs.
WHEAT-1n the local market No. red and
No. . hard were quoted at s2.0oA C. T. T.
track New York.
CORN-In the local cash market No. . yell
low was quoted at St.13I5 and No. mixed
s1.12lz c. l. Z. New York. ten days ship
ment
OATS-Ia the local cash market No. white
and No. white were quoted at 66izc.; No. 3
white 65hc.; No. 4 white, 64I4c.; fancy
clipped white, roc; ordinary clipped white.
6Jc., all elevator.
RYE-Market easy. No. Western, $3.50
{. o. b.. and $l.54 c. T. Z. New York
BARLEy-Market easy. Feeding, 81 .028
1.0I; mailing, $t.12d1.f4 c. I. {. New York.
BUt1KWHEAT-Market dull. Sound mill
ing. $3.50 a 100 pounds.
HAY-Market quiet. No 1. s2g2.tO; No. 2,
$4,000; No. 3, S1.75@i.95: shipping. S1559
LIS.
sTRAw-Market steady. No. 1 rye, s2ia23
ton.