Los Angeles herald., 1905-06-01
MAY CORN is BOOSTED
FOR A GAIN OF NINE POINTS
Prominent Operators In the Big Deal.
Wheat and Oats
Weak
BY Associated Press.

BY Associated Press
CHICAGO. May 31.-The wheat market
was weak the entire day. At the start
July was off 1s@9s to 1Qlh, at s79s to S77s.
The principal influence contributing 10
the initial decline was the almost per-
feet weather conditions prevailing over
tions for tomorrow were for fair weather
with rising temperature.
Another factor of considerable impor-
tance was a decline in wheat at Liver
pool. Pit traders were liberal sellers the
greater part of the time. Commission
houses were the chief buyers. Toward
the. end of the first hour the market exr
perienced temporary tlrmness as a result
Of a sharp advance in the price Of May
wheat at Minneapolis. In Chicago the
price of July advanced to SS9s@SS15.
Sentiment soon became decidedly bear
ish again, the weather bureau crop re-
port causing renewed weakness. The re-
port, while admitting damage. did not
suggest any radical decline i'm the condi-
ton of wheat during the month of May.
Late In the day heavy profit taking in
May following a break at Minneapolis
caused additional weakness here. The
market. closed at the lowest point of the
day, with July at s6bc
Corn for May delivery closed today at
Soc a. bushel, a gain of exactly DC cont
pared with Mondays final quotations.
The sharp advance was an incident of the
final chapter of what is generally be-
lieved to have been a successful deal by
several prominent traders who are said
shorts. From the start there was a good
demand for the May options. The buying
was mostly by commission houses and
was apparently for the account of GUS
toners who were short on May corn
and who had until the last minute hoped
that they might get out comparatively
easy.
At the opening May was up 1c, at SIC.
Little corn was offered for sale until
the price touched 55hc. Profit taking
then, caused reaction to sc: Within
oct fntUy at,,.,t rl,1 lxsI
price to 60c. The close was at the top.
other options were affected by the
strength of May. July opened un-
changed to 1sc higher. at 40 to 491ac, sold
to $3.50 and closed at 4914 @49ssc.
Largely in sympathy with the weakness
of wheat the oats market was easier. The
volume of trading was very small: July
| 30ss@301s sold between SOh and 3O1a, and
closed at 307sc.
Provisions were quiet and steady. Bust
still. At the close July pork was up
| 2k. Lard was unchanged. Ribs up a
shade.
Market Ranges
| The leading futures ranged as follows
Wheat. No. 2-May, s.O1A; July, S6Sc
4s%c; july ioi new, S4a4sssc September Sep 'Vf oid
1850: September new. 4SAc.
Oats. No: 2-May, 3o7sc; July. 3oasc; Sep
Cash quotations were as follows:
| Flour-Steady.
Wheat-No. 2 spring. 81 .05@1 OF; No.
81 .000l1 .05 No. 2 red. 81 .05@1 .061s.
corn-No 2, 52@60c: No. 2 yellow, 52a6oc
| Oats-No. g. 30%c: No. 2 white. 321aQ33c
No. 3 white. 3lA@32c
Barley-Good feeding, 39Q42c; fair tt
| choice mailing, 46Gp49c.
Flaxseed-No. 1, s1SO; No. 1 northwest
ern. $1.4.
| Prime timothy seed. 2.S5.
PrOyiSionS-MeSs pork, per barrel. S12. q
G12 80; lard. per 100 pounds. 81. 15@7 17A
short ribs sides Qoose). 81. O5Q7 20; short
clear sides (boxed) S.121a@7. .25.
WhiskyCBasls OF nlgh VINES; vi asc7Sl ~ o. 90