Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-05-12
THE GRAIN MARKETS.

CHICAGO, ILL.,, May 1.-THE wheat mar
ket today was highly excited and exceeding
ly strong, advancing more than cents In
some options, making a total, advance of
about cents since the close of Thursday.
The business on the exchange was the heav-
lest volume known for a long time, and the
wires of brokers were so busy throughout
the day carrying orders that they had very
little time for the transmission Of news.
At the close July wheat was up 31saSA.
Corn was ~ higher. Oats were UP AaH.
Provisions were 10 to 32A1z<higher.
From all appearances the country at large
was TO-DAY Of the opinion that the crop of
winter wheat will this year be far short of
ket orders to buy were stacked up in the
brokers' offices. and from the first sound Of
the gong until the close of the session there
was a constant rush of buying orders. Lo-
cal traders were inclined to the selling side
of the market, but the country outside of
Chicago, encouraged with the rise Of the
last week, bought wheat constantly. At
times there were slight recessions in the
upward movement of prices on heavy real
izing sales. At one time the market was
forced back u. but the efforts OF the shorts
and local traders were Of no avail against
the flood of buying orders that came from
all parts of the country.
The market started up again and closed
strong and near the high mark, with the
buying demand apparently still unsatis-
fed The specific causes of the strength
shown in today's market were a strong
market at Liverpool. the continued cold
weather in the west and northwest of this
country which II is believed will seriously
damage the winter wheat crop. and sensa-
tional advices from Canada, claiming that
the estimated total amount of seeding has
been done in Manitoba. Cash wheat at St.
Louis and Kansas City advanced 2 to 3
cents, and the prices OF grain at various
continental markets were also reported as
on the rise.
Just before the close free predictions were
made by the enthusiastic bulls that the
price of July wheat viii pass 81. July wheat
opened shade to 3sah higher, at S8n to
50; sold between SStaa91A. and closed strong
and active at 91fsa91%. CIearances Of wheat
and flour were equal to 13S,3O0 bushels.
Primary receipts were 100000 bushels.
against $4,000 bushels for the correspond
Ing day last year. Minneapolis Duluth and
Chicago reported receipts of 525 cars.
against 527 cars last week, and 162 cars a
year ago.
The corn market was strong and active
all day. LOGAN receipts were small, but
the chief bullish factor was the strength of
the wheat market which carried all other
grain with 1t. Efforts were made at times
by bears to resist the advance in prices but
the setbacks were only slight, and lasted
but brief time. The market closed with
an eNceilent demand. July opened IA to N
higher. at bO% to J0N. sold between 50N
and o1A and closed IL higher, at 51A. the
high point for the day. Local receipts were
POI cars. including 40 Of contract grade.
The oats market was strong and active,
and followed the lead of wheat. The gov
eminent crop report issued yesterday was
taken by many traders to indicate that the
crop by June 1 will show q deterioration
from the condition on May I. and much of
the buying was based upon this belief
Trading was very large. Cold weather In
the northwest was also a strengthening
factor. July oats opened haN to 3saH
higher, at 43& to A, sold between 43z and
An. and closed &aB higher, ia An. Local
receipts were 223 cars.
The boom In the grain markets was re-
fiected In provisions, and prices advanced
throughout the day with pork very strong.
The market for live hogs was sc higher,
and there was excellent buying by outsiders
for investment. July pork closed 32kc
higher. at 17.O2h. Ribs were UP 1Oc, at
go Lard was f21sa15 higher, at 9.37h
Estimated receipts for Monday: Wheat.
q cars; corn, 267 cars; oats, 243 cars;
hogs, 5000 head
ST. LOUIS, May 1.-wheat-No. red