Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-05-13
BIG JUMP IN WHEAT
Prices Go to Over a Dollar, As
Predicted BY Bulls Satur-
day Night
GREAT EXCITEMENT IN MARKET
Opening Was Widest Seen in Several
Years-FIood Of Buying Orders From
All Over the country-Later, De-
cIines some-corn Advances Largely
in Sympathy With Wheat.

Chicago, May 13.-Wheat took a tre-
mendous jump at the opening of the
board of trade today, initial prices
Showing a gain on leading options OF
IN to cents. The latter advance
was on December, which sold at $1.03
The opening was the widest and
most excited seen in several years.
Predictions made by bulls Saturday
night that dollar wheat" would soon
be reality, were fulfilled within a
few calls after the opening, both Sep
tenber and December selling at about
the predicted price. December going to
$1.03. Trade was too big and broad
to follow exactly, but every commis-
sion house was stacked with buying
orders to take wheat at the market
price The feeling Of the country that
the winter wheat crop is badly hurt,
was, even stronger than on Saturday,
and demand came from all parts of the
United States.
Many traders realized heavily on
the enormous bulge at the opening, but
demand continued and selling had APP
parentN, not the slightest effect, and
prices advanced steadily.
The Liverpool market was strong
and there was a sharp advance at
Minneapolis, because of small worlds
shipments and unfavorable weather in
the northwest. At 10 o'clock, July was
selling at 96M. and September at 20 ~,
both having dropped back somewhat
under selling pressure.
The scene on the board>for the first
half hour after the opening was the
widest witnessed since the collapse Of
the Letter corner of 1896. Brokers made
frantic efforts to fill orders, but in
many cases were unable to buy within
2 or 3 cents Of the expected price, so
rapid were the fluctuations. The en-
tire country seemed back of the buying
movement. Tho conservative traders
of the local board seemed largely of the
opinion that the advance was too abb
rupt to hold, the flood of buying orders
from the country continued, and twas
evident that for some time at least the
market would have ample support.
The features which have made the
runaway market for the last three days
were again present today. July opened
at TX OPS higher, at 1904, sold to 81,
declined to S5A. sold to 961s and de-
clined to SO. September opened $50
53s higher, at 95@99, sold at 1001s, de-
clined to 50, and under heavy selling
dropped to 9Tss. December opened "
@S higher at 96k@103, declined to
1OOA, and sold at 80. Minneapolis.
Duluth and Chicago receipts were COL
cars.
At 10:45 the buying pressure, which
was responsible for theSwild opening,
was less urgent Long wheat was be-
ing thrown upon the market In large
quantities, and prices were much
steadier, December selling at 80, 4 be-
low the high mark; September at ssh,
and July at SO.
The market was much steadier in THE
last half of the session. July declined
.tos94s, September to s61s, and Decem-
Der to 9S7s. All options held within a
two cent rangeNthe last half of the ses-
sion. The close was strong July UP
four at, 955s@95A.
Corn.
Corn was strong, options being from
1 to 2 cents above the close Saturday.
The advance was largely in sympathy
with wheat, there was igoodsgeneral de-
mand from all points. Cables We're
firm to v d higher. July opened 52@53
and sold at 525s @52A. Receipts were
249 cars.
Prices held strong all day. July
closed 1@111s higher at 52s @52h.
Oats.
Oats were active and strong, and
there was an especially large trade in
distant options. Sympathy with wheat
was the principal bullish factor. July
opened at As and sold at 44A. Re
ceipts were 225 cars.
ProviSl Jns.
Provisions were weak and trading
active. Packers were lively sellers, and
used considerable pressure to keep the
speculative fire of the grain markets
away from their business.