The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1904-02-21
GRAIN AND PROVISIONS.

Chicago. Feb. PA sensational as
vance of s14c a bushel was scored IN
thirty minutes TO-DAY BY wheat IoI tils
Nav delivery. The phenomenal price OF
S1.07 was reached. the chief incentive pc
ing rumors of the Russo-JapaneSe wa
spreading to other nations and tax on
stoppaEe of wheat shipments from Rus-
sia and from Argentina was secondary
factor. The day on change was one OF
the most exciting in q number OF years
Compared with yesterday the final flg-
ures today are Sc higher for May wheat
and PIC for july May corn IS up s49 sc,
oats SIC and provisions lON3l1ze.
The wheat market opened excited and
strong. Shorts were active bidders I0T
the May option and initial quotations 81
that delivery were unehangfd 20 &c
higher at 81 022. d1.04 July opened &c
lower to &c higher at s5aa3%a. The adj
vance was due mainly to the strong ca
bles. Liverpool futures being up q penny,
Paris zl1c and Antwerp 17sc . pushed
The gain at Antwerp was taken TO be
especially significant as caused by threat
ened stODpage of shipment from Argen-
tina and Russia, A report stated that
railroad employees i'm Argentina were on
the verge of a strike. The tranSporta-
ton of troOus and war munitions in Rus
STA is greatly restricting the movement
Of wheat in that country. In addition to
the bullish foreign situation. conditions
in the United States were such as To
cause alarm as TO the sufficiency OF the
domestic supply. The demand from
ders for the account of the leading longs
Small holders also had wheat for sale
After touching 1.04, MGy quickly drOpDea
TO I .022., while July declined TO S2l4- For
"a short time the market held compare
lively steady around these figures.
AS soon as the selling stopped, how
ever prices again moved inward under
urgent buying by shorts. The fact .hat
the board would be closed on Monday
WashingtOn's Birthday, appeared TO be
materially effective IN bringing out the
heavy buying orders. traders being 10TH
to remain short over the two days re-
cess. Late in the session there az
practically no May wheat on the mar
Kef. and shorts were bidding L to &c
over the market price in order to get IT,.
Inc hlgn point was reached At lOl q
gain of Al. over last nights close. Ehe
demand for July was almost as good as
was that for May, but there was more
Of the deferred future for sale and the
advance was not as sensational. The
price for that delivery rose to 95c. or
8lsc above yesterdays close. Realizing
sales resulted in May declining TO LOSS.
while July feh back 10 942s.
Another rally followed the last few
minutes of trading, May closing at 1855
and July at a5is Clearances of wheat
and flour were equal to $4,000 bushels.
Primary receipts were $4,000 bushels,
compared with $1,000 bushels a year ago.
Minneapolis Duluth and Chicago report
ed receipts Of 20 cars, against aA cars
LAST week and 233 cars a year ago.
ne carry corn market was weak iEern
was general selling after the opening,
and apparently not much corn wanted
May opened unchanged to &c higher at
56ls 10 56i4. but declined gradually to 55s1
Prices responded TO improved buying.
May advancing to 573s Although profit
taking carried the price down from the
high point. the close was strong at 567sfG
81 July showed "A gain Of SsG5z( closing
at 55c- after ranging between 549s and
955gGg55ss. Local receipts were as cars
none of contract grade
There was an active general trade in
oats. with the best demand coming from
shorts After opening UNCHANGED t. Izc
higher at 45ls TO 452s, May sold between
s5is and 46iz. closing at 4jss. July was
up lie az the close. final figures being
at as Local receipts were 1e7 cars
The provision market was active and
strong throughout the entire dav Buy
ing by packers and outsiders, together
with covering by shorts. were the frc-
tors that resulted in gains throashout
the whole list. Small receipts of hogs
with higher prices at the yards and the
strength ia grains We're instrumental fin
bringing out the demand. May poTk
showed the grea tess advance and closed
She higher at 1855. after selling up to
1bp. May lard was up 15c. at SO and
ribs We're 30c higher at 7.121e
Estimated receipts for Monday: Wheat
% cars. corn 420 cars; oats. 2g5 cars
hoes, y 010 head.
The leading futures ranged as follows: