The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1904-08-03
Chicago Board of Trade.
Future Grain and Provisions.

CHICAGO. Aug Wheat for September
delivery sold on the Board Of Trade to-day for
94Ac, an advance OF 2as q23c, compared with
Saturdays closing figures The sharp upturn
was due to alarming reports Of rust damage to
spring wheat in the Northwest and to almost
equally pessimistic advices from foreign coun-
tries. The market closed al the high point Of
the day. Other grains were influenced by the
strength Of wheat September corn closing with
Provisions are unchanged
From start to finish the wheat market was
an exceptionally strong affair. An estimate
made by q Minneapolis crop report that the
total winter and spring wheat crop Of the
United States would not be to exceed $50 600
coo bushels caused active covering by shorts
at the opening. As a result initial quotations
on September were up s01ac TO S@z4c at
92l4 a82lac-
that contributed 10 the early bulshness was
the strength Of all foreign grain market4 Liv-
erpool being up from lesd. compared with Fri
days close. The price OF wheat at Budapest
was reported TO be from &c 10 Sc higher than
Saturdays final figures. ana this added zest
10 the buying Many traders dtscredited these
figures but when confirmation was forthcom-
ing skeDtical ones quickly Joined the bull ele-
ment. Crop adyices from the Northwest con-
tinued 70 dilate enormous damage by rust in
the spring wheat fields Damage reports We're
partly substantiated By the weekly Weather
Bureau bulletin. About ne only news OF a
bearish character was a decrease OF 314. 600
bushels in the world visible supply. as against
a decrease OF 1.613.0oO bushels last year. The
markC- received the support OF an active gen
eral demand throughout the entire day. buying
BY Northwest houses being especially heavy.
Foreigners also bought more freely in this mar
ket today than Tor several weeks past
With the exception OF a slight recession soen
after the opening, when September touched
q2kc, prices moved steadily upward, the close
being practically at the top Final quotations
on September were at 94is d94Ac. after the
price had reached 94Ac. Clearances OF wheat
and -four were equal 10 96.SUO bushels Pri-
mary receipts were as, COO bushels against
S37 SEQ bushels a year ago. Minneapolis, Du-
luth and Chicago reported receipts at 49, cars.
compared with 400 cars last week and 532 cars
a year ago
In The corn market a burst Of bull enthu-
siasm at the opening was followed by rather
easy tone there being influential selling by
broker supposed to be acting for a leading
elevator concern. The market closed near the
highest point OF the day. September opened
&c to &c higher at 5lAd51$c. sold between
sic and 53I4c and closed at - Is 9J3 &c. Local
receipts were 269 cars. with 10 OF contract
grade.
More than usual interest was taken in the
oats market. The market closed strong and at
the top September opened shade lower to
a shade higher at 33 d33 lac sold up to "a &c,
where il closed. Local receipts were 2S9 cars
Notwithstanding the strength Of grains the
provision market remained quiet and easy.
decline Of 1Oc in the price OF hogs was the
PRINCIPAL bear influence. September pork
closed 81 Isc lower. Lard was of 2la 95c. Ribs
were unchanged.
The leading futures ranged as follows: