Los Angeles herald., 1907-05-02
CHICAGO GRAIN MARKET
Wheat Opens Firm and Gains Strength
During the Days Ope-
rations
By Associated Press.

oy ASSOCldIeQ GreSS.
CHICAGO, May 1.-The wheat market
opened firm and gained in strength as
trading progressed. There was an urgent
demand all day, commission houses and
shorts leading In the buying. In addition
AZ Was smed 9f that she Se %nsar sreen whsa sa
Mad survived the cold weather in better
3s.aape than had the wheat crop and is
lstill active.
Another source of strength was the
statement by a local crop expert In
which he estimated the total winter cror
at about 10OOOO,O00 bushels less than last
year.
The bigger part of the selling came
from the longs, who had profits In sight.
The market closed strong and close to the
highest point. Deliveries on Nav con-
tracts were nearly 100000 bushels, which
pected.
The grain, however, was taken largely
by influential houses, which fact operated
to prevent the enormous deliveries from
ket. July opened A@ssc higher at S1&@
SlBc to S1B@S2c. advanced to S3h@S3a4c c
and closed at S35s.
Trading in corn was active and the mar
wheat was the chief bullish influence, al
though small receipts gave additional i'm
petus to the buying movement. The mar
-ket closed strong and near the highest
point of the day. Deliveries on May con-
tracts were small, being only 10000 bush
els, July opened unchanged to b@Ac
lI50ssc and closed at 50Hc.
Sentiment in. oats was very bullish be-
cause of the large line of May oats held
by prominent bull An advance OF from
grain strengthened options. The close
was strong. July opened 1s@Ac to A@ssc
higher at 42A@429sc advanced to 1880 and
Although deliveries of provisions on
May contracts were much smaller than
could be generally expected, the product
fell in weak hands and wa, was PLACED on
met with little demand and prices became
easier. Later the market rallied in
strength with grain. ~; At t. the close July
S.aa,s' ssf e. $50 and ribs were &c higher at
Market Ranges
Wheat--May, O1A@SO5sc; July. s3Ssc; Sep
tember S53sc; December, S64c.
Corn-May 5o1Ac; July. 5OAc; September,
Oats oats-May. 5ssy 4s%@47c; July. 4s1Ac; Sep
Cash quotations were as follows:
o, whsataNo. S spring, s2@s5c; No. g, 759
@501sc: No. yellow. 501s@50a4c. Oats-No.
2, 467sQ47c; No. 8 white, 41A@451kc. Rye
No. ,, 6S1ec. Barley-Fair to choice malt
northwestern, $1.2i Prime timotHey
seed, $3.50. Clover contract grades.
$15.25.
Provisions-Short ribs, sides Qoose),
$8.3712@8. 621A: mess pork, per bible, $15.62h
@1575; lard, per 100 lbs, $S,621a; short clear
sides (boxed), $S.621a@S871a
Whisky basis of high wines, $1.29.
Articles Receipts. Shipments
Flour, barrels ........... $4,000 $1,000
Wheat, bushels ........ $4,000 21,000
Corn, bushels .......... 1893, 500 172,100
OaR, DushelS .......... .4G5,6O0 ia, 800
rye, DuSnel5 ........... 1000 -.
Barley, bushels ........ 72,200 1890
LIVERPOOL, May 1.-Close: Wheat
May. 6s 61sd; July, 6s 5ssd; September,
SAN FRANCISCO, May 1.-wheat-
Strong; May, $1S5 bid; December, $1.4SA
bid, Sl.44 asked; c..sh, $1.40.
Barley-Firmer; May, $1.2O; December
1.22115; cash, $1.221s.
Corn-Strong; large yellow. 81. .371a6D1. .421s.
NEW YORK, May 1.-There was a
strong recovery in wheat today due to
killing frosts in the southwest and a very
bullish snow report The market closed
1A@21zc net higher. May, S9A@91c. closed
Ole; July. 89%@911hc, closed 91lsc; Septem-
Der, S01s@92c. closed 92c; December, $3.50
94c, closed 94c.
TACOMA, May 1.-Wheat-Unchange
bluestem, zoe; club. CSC; red. 75c.
PORTLAND, May Wheat - I'm
changed; club, 75@76c; bluestem, 77@7Sc;
Wiley, 72@7Sc; red 74Q76c.