The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-05-14
DOLLAR WHEAT IN
THE CHICAGO MARKET
Scenes of Wild Excitement as
Flood of Buying Orders Car
ries Price Upward.

CHICAGO. May 13,-Wheat today on the
board OF trade crossed the dollar mark.
Both the September and December op-
tions passed that figure at the opening
OF the days trading amid the widest
confusion. Despite reactions throughout
the day, caused by heavy selling for
profit the market closed strong and with
the demand apparently unabated. Final
quotations found the July option up ic
at 95s@95sc. The September option was
4c higher, 81 9Esc, December was up 4sc
at 99lc. July corn was 1Mlsc higher.
Oats were UP 3MRc. Provisions were ihc
lower to 12tc higher.
The opening this morning was the most
sensational known IN the history of the
organization, Tho buying movement
started by bidders of last week was more
vigorous than ever today, Brokers were
the market irrespective OF prices, The
curb nj Minneapolis was higher and Il
was evident 10 all that prices would
move upward with bound as soon as
the gong sounded. The group Of traders,
however did not look for any such open
ing as occurred Every option on the
opened higher, The advance In wheat
ranged from lac to Sc. The latter was
made by the December option.
The reasons for the advance were those
which have been chronicled over and
over again during the last ten days
reports OF damage by the green bug
and Northwest, Higher prices were also
reported from all OF the continental mar
kets. Liverpool was especially strong
because Of the gloomy outlook IN Russia
The weather bureau predicted no imme-
diate change that will either help the
winter wheat in this country or allow
the seeding of spring wheat In the
Northwest and In Canada. Low tempera-
lures were reported from Manitoba, and
II was said that in several parts OF the
Province, which have hitherto been
t1l 10, Y,t,u loo
Of wheat, the rivers and ground are stu
frozen hard. The temperature west of
Winnipeg today was not as high as 81
degrees
Many Of the professional traders. be
lievng that the opening was much too
high sold wheat vigorously all day. The
July wheat down to o4sc;. September to
96sc. and December 20 9S5c. Country
customers, however, still flooded the mar
kei with their orders and all setbaeks
market closed strong. July wheat opened
15@1sc to l&@1sc higher at 9ac TO ,o4c,
sold between 93c and &C and closed &C
opened 1c 10 SEC higher az e5c TO 99c;
sold between 95c and s1.0l5 and closed
SO higher at 9Isc; December opened l5c
tween those TWO points and closed i5c
higher at 99Sc, The amount OF wheat
on ocean passage decreased l6fS,oVO
bushels.
The visible supply decreased 100000
bushels.
Trading In the corn pit was active and
in large volume. The market was strong
throughout but the advance was largely
In sympathy with wheat Shorts We're
active buyers and commission houses the
best sellers. The market closed strong.
July corn opened &c to lsc higher at SIC
to 53c held within the opening range all
day, and closed l@lic higher at 52sQ
62kc.
The tremendous upturn in wheat i'm
parted strength TO the oats market and
within a short time after the openiaas
vance was caused ny buying orders, and
much of it by the anxious covering OF
shorts July oats opened &c higher at
a5c. sold between iisc and iblc, and
closed Aalc higher at A4s9ailc
Packers were constant sellers Of pro-
visions today ard prices were easy earl
Ter in the day. Later lard and RIBS 5 ad
In sympathy with the grain market. July
pork closed lower, being the only option
the close July pork was TIC lower, lard
was up ]2hc and ribs were &C higher.