New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-08-16
TRADE IN CHICAGO.

-E- TE-ECRArl 70 THE TRIBUNE.
chicago. Aus. From the close Saturday 20
fhe orcai1g CO he market TO-DAY. there was little
news for wheat traders. They ere stiu n a po-
Gltion where q lot OF guessing Is IN order the
gprlrg wheat dal1aSe. The weather for the spring
wheat States was clear and warm. and favored
the maturity ~ wheat not damaged Most o. the
press reports on the spring crop situation were
moderately bearish. indicating e chance Tor fair
yield wiki rust injury deducted First prices COW
cred e considerable range Tor AL months, showing
the uncertain feeling IN the trade. New septem-
Der prices first trades were = oosl2$ Oh; De-
cenber. ssstc60 opA; May. s. ol1sgE q After 4
period q hesitation considerable strength deTel-
Cped narr O. it due 20 TIE corn advance when
wheat prices moved Up 10 = OSc, old September;
s. Oh new September; 8 coz, December ara
from 81 us4GS ca. fer Nay. TIE buyrg vas
largely professional led b- Pringle, Spencer. Gih-
crd & Barrett There was Northwest selling on the
advance. Kneeland Peavey were sellers. Before
roon the trade felt the absence Of outside buying,
an there was a drop 81 prices under selling pres
sue from the people who made the bun market
the Erst hour. Late IN the session the wheat
trade became convinced that conditions Northwest
we're as bad as ever. Some very bad reports were
circulated. Early sellers turned buyers. There
WIS e return OF the bull enthusiasm OF last week
and prices had late advance TO 81 g new Sep
tsmber; & Ga Decsmber. ard 8 o4i5 NAY 20
snd g. over the morning prices. There was little
reaction 81 the close
ths trade In this market had d-outh scare this
morning. Complaints have been coming from kan
Eas Missouri. Illinois and Indiana for a week
about the need Of rain for corn.
On Sunday temperatures ran high 81 Kansas and
che Southwest The Kansas City messages this
morning said that corn raisers II Kansas were
alarmed. Missouri Is known 10 be in the same
condition. some other things added 10 the buying
force IN the market. Local receipts were only
niaety-tour cars Local shipments at the time
H-r-
regular houses decreased for the week 52s 900
bushels. bringing the total down 70 100000 bushels
There was nervous buying at the start. and inde-
pendent o. vhear, bull market developed quickly
IN corn. The September price went from $50 10
Sc December sold from 5I2sG5gzsc; May, 5ols8
hsc. This was lie gain over The close last week
Tor the new crop months Late buying OF corn
forced the price 10 54ac for September. 53stc for
December and 525sc for Nay. December and May
closed with &c reaction. at 53lz and 525sc.
There vas activity IA the oats trade. which
shared the strength % corn The first hour. Later
there developed very heavy trading in Nay oats.
when Howe, speculative leader. was credited
with selling cut large line through Kidstou
and others I'll she Advance. After this selling
seemed 70 be over, the market acted very strong
aga The September price ranged from 53stc Up
y s4'<c' December, S47tc ap 10 s55sc. Nay. $500
eoise Up 20 EssGg7ikc The EIdston selling put the
Alay price back &C and IL again frrned quickly
70 61sc, nc higher for al months. Local oats re-
eslpts were r. cars contract oats Isl cars For
Tomorrow the estimate IS 81 cars The visible
e1ppy decreased FOR the week 10000 bushels Stocks
IN public houses increased 5000 bushels. TO total
q seayJo Top for all months IN oats was reached
9lst before the close September. Sa1zc: December.
@sc; May. S7skc
~ Vas poor excuse for 4 speculative market IN
provisions al day. Hogs fell below the estimate
ARl prices were 5al0c higher. The strength in
arans possibly Helped the local buying OF products
--ork closed 7ise higher az ST. 67ls and 81 m
speeia- and October lard So higher at Sc s2Is and
. "a ribs. f715 both months