Los Angeles herald., 1905-02-25
CHICAGO GRAIN MARKET
Corn Leads in Trading at an Advance
Gain for Wheat and Oats
~ Aasoclnted Press.

BY Associated Press.
CHICAGO, Feb. 24.-Corn was the
leader In the grain trade today, pull
ing UP prices of both wheat and oats.
Big exports of corn was the principal
reason for the unusual situation. May
corn at the close showed an advance
of MM1c Wheat is up &c. oats made
a net gain of Hmhc. Provisions are
practically unchanged.
An active demand from several
prominent bulls and good buying by
cash houses started the sharp advance
I'm the price of corn. Alarmed at the
appearance of urgent demand, shorts
endeavored to cover but offerings being
extremely small. the efforts served only
to force prices still higher. Large clear
ances at the seaboard was the factor
which received most attention. Owing
to lower cables the market opened
easier, May being a shade to M@hc. at
46%@46%c. Almost Immediately, how
ever, heavy purchases by recognized
leader of the bulls precipitated an ac-
tive inquiry from shorts and as the
session advanced the volume of trad
ing increased. Prices rose steadily
until May had reached 4Sc. The mar
ket closed practically at the highest
point, final quotations of May being
47Bc.
Influenced by lower prices at Liver
unchanged to 1sc higher, at $1.1SnG
1.18$, and July was. unchanged to Ac
lower, at $101%D1.0 The weakness
at Liverpool was attributed to enorm-
Gus shipments from Argentina, exports
from the country being 4,360,000 bush
els, compared with 3,96S,000 bushels In
the corresponding week year ago.
Pit traders sold quite freely at the out
set, forcing May down to $1.1S1s. On
the dip commission houses became ac
tive buyers, causing a quick rally Dur
ing the last half hour the volume OF
trading was very light, interest of
traders being diverted temporarily 10
the corn pit. The strength of the yell
low cereal was the main cause of late
firmness in other grains. AT $.18%
May reached the highest point of the
day and the closing quotation was at
the top. July sold up to $1.02B, clos
ing at gain of 1A@1asc, at $1O1%G
1.02.
Sentiment in the oats pit was bull
ish, largely in sympathy with the
strength of corn. May closed 31BGl
31Ac.
In the provisions market lard showed
considerable strength in the face of
weakness of other products. AT the
close May pork was off 21sc, at $12.55.
Lard was 2h@5c off, at $6.75@6.ST1a
and ribs unchanged at $6.67h@670.
Market Ranges
The leading futures ranged as fol-
lows:
Wheat--No 2 May, $1.1S%; July
81 01 * @1O2; Sept, 9214c.
Corn-No. 2 Feb, 4514e; May, 4TBc;
July, 4S9sc; Sept, 481ac.
Oats-No. 3 Feb, 3O7s@31e; May,
31M@S1Ac; July, 31B@31Ac; Sept,
293sc.
Cash quotations were as follows
Flour-Steady.
Wheat-No. 2 spring, $1.14@1,1S; No.
8, $110@1.19; No. 2 red, S1.1SB@1.19.
Corn-No. 2, ASH A@45Ac; No. 2 yellow,
45h@45%c.
oats-No. 2, sO% oslo; No. white,
32Ac; No. white, 31@31Ac.
Rye-No. 2, 75@7Sc.
Barley-Fair to choice mailing, 4S
@46c.
Flax seed-No. 1, $1.21; No. 1 north
western, $1.311s; prime timothy seed,
$2.90@292h.
Provisions-Mess pork, per barrel,
$12 35@12.40 lard, per 100 pounds, $4,000
6.771a; short ribs sides Coose), $6,50G
6621a; short clear sides (boxed), $6.75GD
6871s.