The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-09
WHEAT PRICES GAIN
PORTION OF LOSSES
Market Rallies Near Close and
Final Quotations Are ) to
53-4c. Il Bushel Off.

Reports of free Canadian offerings and
lack OF export trade were responsible
for the drop in yesterdays wheat mar.
ket Prices declined as much as IA to
S cents bushel less than Thursdays
final quotations, but recovered some Of
those losses before the final sale, the
close being AN cents TO s cents a bushei
lower Selling was inspired by an
rouncement that large quantities OF
Canadian wheat had been sold TO arrive
at lake ports. and 1t was thought that
rdllers and exporters were buying Cana
dian grain. Another bearish influence
was the estimate of the wheat crop of
The international Institute OF Asrlcul-
ture, which shows the crop to be more
than n five year average. There was
also some speculative selling on belief
that the readjustment would be CARRIE.
further in wheat.
The Government crop report issued at
the close Of the session. which indicated
an all wheat crop of 0.64s, 600 bush
els. was construed bullishly by the trade.
The Government figures showed fall
ing Off in the spring wheat crop from
that Of last month, the estimate for
this month being 21s.o07,00O bushels, in
contrast to 237 100000 last month.
Traders construed the Government fig
ures for corn and oats bearishly. \
crop of 3.216,192.0o bushels of corn
was indicated and a slight gain from
last months figures. The Government
indicated an oats crop of 1,444,362,o 900
bushels, against ] i42. 100000 for last
month.
Selling In corn was due to the drop In
wheat. failure Of receipts to decrease
and expectations of a good crop report.
Hedging sales by houses with country
connections were again influential In
causing the decline in prices. The sell
ING of October under the May also at
tracted considerable attention and there
are traders who feel that deliveries OF
old corn on December are not unlikely.
oats sold off in the early part of the
session because Of the weakness in other
grains. but rallied on reports that the
East was grinding oats for feed at pres
eat prices
Provisions were lower under weakness
{ in grains.
red and No. hard were quoted at w.
&c. l. T., track. New York.
CORN--ln the local cash market 30 =
yellow corn was quoted nj Sl.i49.' 10. :
mixed. 81. 12%, c. {. T.. New York, ten days
oATsHin the local cash market No. white
\ white. G5c. No ( white 6tc.; fancy
81 -,ea white, 69a7o,; ordinary clipped
RyE~Market easy: No. Western. sl,so,
T. o, b., New York, and Si.s3. c. |. T..
domestic. 40 %,
and mating. ST 0gEt IL c. 1. T., New York.
BVCKWHEAT-Ma rlset quiet; middling'
IS. 80 n 100 lbs. oo~>
HAY-Msrket barely steady; no; !, s. ;S 4s
30; No .. si.7Od1 so; No. 3, S1.55alIo &.
shipping, 81 .35d1 30. $500.
STRAW-Market quiet; No rye, S2OuZl
ton. -,
WHEAT, including flour exports for the
week, according to Bradstreets, aggregate
lO16g Cos bushels. against S12.lSo,l9I inc
previous wccI, and {. 0o2 ,4so last year since
July /, Ia 500 .G92 bushels, against 91,i44, l"l
last season. Corn exports for the week.
2sT. 800, against los, 3o5 last week and ~. $50
last -ycar since July /. 1.26e.5o4 asains;
T49. $50 last season.