The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-05-24
GRAIN AND PROVISIONS.

Chicago, May 2S.-Wheat prices broke
more than two cents per bushel on the
board OF trade today, because of enor-
nous realizing sales which were based on
general rains throughout Nebraska and
Iowa. The market closed weak with the
July option showing a net decline of 21k0p
2ssc. The September delivery was down
192G15sc July corn was down 1ika15sc
Oats were lac lower and provisions IA TO
12lsc lower.
The wet weather In the west swamped
the wheat market with selling orders
when trading began. and opening quota
lions showed sharp losses, prices ranging
al the way from sc above. to l3sc below
the closing figures. Local ana outside
longs were free sellers and there was
considerable selling for short account.
While heavy rains had fallen In Nebraska
early reports, was still without moisture.
Later in the day, however, adviceS from
Kansas City claimed that reports from
several points in Kansas stated that the
much needed rain had made its appear
ance- This was the signal for q renewal
of the bear raid on the market which car
ried prices down with a rush, July selling
OFF to So5s, September to 99s4 and Decem-
Der to S1007s The bulls throughout the
entire day made strenuous efforts to
bring about a rally, but their attempt
proved Intellectual until within half an
hour of the close. when, with the aid of
shorts prices were raised more than one
cent above the low point of the day.
Much of this buying by shorts was due to
wheat crop of ROumania was total fail
ure owing to drought. The last five min
utes of trading witnessed another sharp
break in prices due to renewed profit
taking. a decline of more than four cents
per bushel in the price of cash wheat at
Kansas City helped to cause this final
break. The market closed weak. July
opeend Is higher to rs lower at SLIGO to
Sl.Ol%4. sold off to ISIS and closed at s914H
1885. September opened Il to IL lower at
S.02 to s10S, declined to 99%4 and closed
at Sl.OO13ql.05s. December opened s to
1ss lower at $1.02& to S1.031s, dropped to
81 90 to 81. CO.'S. and closed at SI.O15s. Clear
ances of wheat and flour were equal to
$4,000 bushels. Primary receipts were
53S 600 bushels, compared with 226, 600 BUSH
Minneapolis, Duluth and Chicago reported
receipts of 3l4 ears, against Az last week
and 1874 year ago.
The general rains in Nebraska and Iowa
brought out liberal profit taking in the
corn market and caused a decline of about
cents per bushel in the price of corn.
The close was weak. July opened ssMl5
to 11s6I114 lower, at 521s to 535s, sold off to
52ls and closed at 52i2. Local receipts
were ia cars, with 4S of contract grade.
The wet weather in the west caused a
surprising effect in the oats market. and
caused a decline from i TO cents per
bushel July opened unchanged to &c
lower at 461a to Az, sold to between 1915
and AIS and closed at a. Local receipts
were 81 cars.
There was little trading in provisions
and the market was weak because of con-
tinued liberal hog receipts and the slump
in grain. At the close July pork was off
l2I9, at S1g.52is; lard was down ~. at
Estimated receipts for tomorrow;
Wheat. 45 cars; corn, ia ears; oats, 1oe
cars.
The following are the future quotations: