GRAIN MARKET. REVIEWED

New Zealand Times, Volume LXXI, Issue 4461, 14 September 1901, Page 7 (Supplement)

GRAIN MARKET. REVIEWED

The general position is reviewed bj “Dornbusch” of July 19 as follows 4 “Modified views of the probabilities c| the Russian harvest, rumours (not noooa sarily authentic) that all was not welj with the crop in North-West America) conviction that Franc® would show 4 yield several million quarters under hej requirements, the knowledge that Gen many is undoubtedly a long way behind an average crop, each and all of thes) influenced trade opinion/ so that tin market to-day is stronger than it wa) ten days ago. Although no very mark ed rise took place in quotations, can goes on the way were held with renewed confidence, and shippers in North Pact fic regions hold intending buyers a| bay,and evince little inclination to makt contracts at current rates. The aaticL pated reduction in tbo American maiz( crop is another source of strength t< wheat holders, for any marked stbrtagj in com will lessen exports of wheat from Atlantic ports, as the latter grain will be required for hog and stock feeding thereby reducing the quantity availabn for export. Another point not to b| overlooked is the greater ability of Am erioan farmers to hold the harvest bj reason of their inproved financial poet tion. This statement, of course, is no) to be applied generally, but enough grain may be withheld in the opening of the cereal year to influence the mar) ket, which is likely to b® in a very ner. vous or at least sensitive condition fo) some time to come. Statistician Brown, of New York, estimates the out put of wheat in the United States al 704,000,000 bushels, but Mr Murray, oj Cincinnati, goes one better, and give; his opinion (which always is respected and carries weight) that at least 715,i 000,000 bushels will be harvested, at th( time boldly averring that the world’) wheat crop will be 80,000,000 busheh over that of last year.”