Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-31
GRAIN MARKbT STRONG
POLITICAL DISORDERS ASSERT
ED BULLIsH EFFECT AT CHICAGO

CHICAGO, December 30-Political disor-
ders in Russia asserted a bulhsh effect to-
day on the wheat market. AT the close
wheat for May delivery was up Aaasc. The
termination of the December deal in corn
resulted in slump Of Sc. bushel in the
price of old December. New December
sold of SAC. May corn closed &c. lower.
Oats We're practically unchanged and pro-
visions were unchanged to 71ec. lower.
With the exception of the first few min
utes of trading December wheat was strong
for the entire day. At the opening local
bears sold freely, partly as result of
lower prices at Liverpool and also because
of the continued heavy movement of wheat
in the northwest
Bull leaders. however, gave the market
good support, and prices soon made sub
stantial advance. Later the buying be-
came more general because OF increasing
outbreaks reported in Russia, it being be-
lieved that the situation there will eventu-
ally lead to a great curtailment of ship
ments of wheat and other grains.
Argentina Damage Reports.
Further adyices from Argentina confirm
ing previous reports of damage to the
wheat crop by rains also lent strength to
the market. An English statistician esti-
mated the worlds shipments for the week
at 100000 bushels, against 11,o0O 600 bush
els for the corresponding week one year
ago. This was another feature which in
duced buying. The market closed firm.
May opened a shade to 1sc lower at S7hc
to S7l2aSI9sc., advanced to SSasc. and closed
at s75-assc.
Clearances of wheat and -four were re-
ported equal to 519,To0 bushels incomplete
igures). Primary receipts were 94S 600
bushels, compared with 574, 900 bushels one
year ago Chicago, Minneapolis and Du-
luth reported receipts of 622 cars, against
523 last week and $40 cars one year ago.
Corn Prices Fell Steadily.
At the opening of the corn market today
It was apparent that there were few If any
shorts who were not in position to fulfill
their contracts by making deliveries of cash
grain. The longs therefore made no at
tempt to support the market, and the price
for both new and old December fell stead
lily throughout the day.
a decline of SC. a bushel from the closing
hgures of yesterday marked the end of the
dealing OF December corn. The selling was
IN small lots and transactions were from
lc. to &c. apart. The close was at the
lowest point of the day Old December
opened 1sa1c. lower. at 10 to 1872, dropped
to IA within the first hour and then con-
tinued to sag until the close. which was at
a. New December opened at Az and
closed with a net loss of 81 at Al
Future deliveries Were not affected by the
slump in December option, May being
steady from start to finish. MAY opened
a shade to 1sa1& lower, at 44Aa44ss, sold up
to 441s-and closed 44Aa449s. Local receipts
were 52l cars, with 1o4 of contract grade
Bulge in Price of Oats.
Urgent demand by shorts caused a sharp
bulge in the price of oats for December de-
livery. The price for that option was bid
up from 321a. the opening quotation, to IS
before any quantity was offered for sale.
At that price, however, many of the longs
took profits which brought about a quick
reaction.
Closing quotations were at 3D.. the low
est point of the day. Other deliveries were
steady. May opened unchanged to IA
lower, at 321s to 32A sold up to 32as and
closed at 321sa32A. Local receipts were 15S
cars.
Despite an advance of Sc to 1Oc. in the
price of live hogs the provision market was
weak because of persistent selling by local
packers. AT the close May pork was Off
~, at 1873: lard was unchanged, at 7471a;
ribs We're "a lower. at 1914.
Estimated receipts for Tuesday:
Wheat "a cars; corn, S97 cars; oats. 434
cars; hogs, 1900 head
There will be no market on Monday. ii
being New Year day.