The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-05-15
GRAIN AND PROVISIONS.

Chicago. May 1.-THE buli campaign in
wheat was temporarily checked today by
an enormous realizing sale which forced
prices down about cents from the high
points of the day. Almost all of this; loss
however, was subsequently regained on
renewal Of buliish activities the market
closing strong with the July delivery I'M
changed compared with yesterdays final
quotations. The September and Deem
Der options were each 3sMlsc lower than
yesterdays close. July corn was off 20
l4c. Oats were down &c and provisions
Tie to soc lower
The wheat market opened amid intense
excitement and for brief period it APP
peared as though the market might devel-
op into a runaway affair similar to that
of yesterday. Initial quotations on the
leading options ranged all the way. from
&c lower to 1Ssc higher than the previous
close. Within a very short time. how
ever, 1t became evident that the climax
OF the sensational advance had been
reached and that, temporarily at least,
prices would tend TO seek a lower level.
This was made plain by a decline of 1c
to &c within the first half hour of trading
due to deluge of profit-taking orders
that flooded the pit Over night many
commission houses had sent out MESA ges
to all of their customers advising them
TO get from UNDER and the ease with
which prices slumped off during the first
few minutes clearly indicated that coun-
try spectators had quite generally needed
ly heavy all day, but despite this liberal
selling prices several times made fair raj
lies because of the urgency of the demand
from those Spectators who still believe
that this cOuntrys crop would be insult
ficient to satisfy home consumption and
also provide for the probable requirements
Of European nations. Much of today
selling was based on decline of over
penny in the price of wheat at Liverpool
but the larger part came from those who
thought that the market had been cover
bought" Cold weather still prevailed IN
the spring wheat territory, but rain and
snow in Nebraska and Kansas gave in
spiratiOn to sellers. An advance of 1Ssc
in the price of wheat on the Minneapolis
curb was partly responsible for the high
er prices here at the opening. The mar
ket made sharp advance during the last
few minutes which was due to some eN-
tent to a report that a heavy snowstorm
was raging in the northwest. The mar
ket closed strong, with nearly all the loss
regained- July wheat opened lzIksc to
1l5U1Tsc lower at 9654 n97c sold off "a
sSasc. rallied again 10 fse and closed al
| s5ssd95$sc. September opened &c lower
! to &c higher, at 911z09Sl2e, sold off to 95ls
ass. advanced again to CSC aud closed to
I 971s197izc. December opened unchanged
to sc higher, at sec to 9952c. sold at 81
and then declined to 97e. Final quotations
We're at 9S9sG5Sstc
The corn market was affected by ths
slump in wheat and fer the greater parl
u lus Jay SSitiheAt III the PIT Was De4I-
! ssh. The close was easy. July opened z
shade to 1tdssc higher. at 521zd 52s4c. sold
/ off to 515sc and closed at 52ifc. Local re
! ceipts were 2s4 cars.
Oats-Prices in the oats market were
steady. but weakened later on heavy sell
! ing for profits. The price of cash gTaiT
was off lzc. July opened 1fN@sc higher. al
/ 45c sold off to 44Isc and closed at 1880
441Rc. Local receipts were 35S cars.
/ Provisions were weakened by active sell
1 ing of lard and ribs by a leading loca
packed. The weaker tone of grain actet
also as bearish factor. At the close Juls
pork was down Doc at $685.. Lard showed
net loss of 17lke, at SO. 321k. Ribs were
/ off 2215c. at s9021z.
Cash quotations were as follows: