Los Angeles herald., 1907-06-16
CHICAGO GRAIN MARKET
Wheat Prices Suffer an Early Decline
but Recover Later-Corn
ls Weak
nv Associatad Praaa

BY Associated Press.
CHICAGO, June 15.-Following / cent
decline early In the session the local wheat
market rallied sharply ON covering by
shorts. The close was fairly steady with
September delivery showing a net gain of
AQ7sc Corn was UP ssQ1hc. Oats were
shade lower. Provisions were q shade
to 10c higher. The downward plunge OF
wheat prices at the start was due to gem
eral selling brought out by continued ex-
cellent weather over the entire wheat
growing sections of the. United States and
Canada. Commission houses flooded the
pit. with offerings on stop loss orders
and local and outside longs sold freely
During the hrst hour the feeling IN the
pit was very bearish. About the d midole s.od
denly owing to the appearance or a mum
ber of damage reports from Kansas, me
most of this news was thai. hot winds
are preventing the proper filling out OF
the maturing grain. Shorts became
active bidders which quickly forced prices
more than cents above the low point or
A large part of this gain was subse-
quently lost ON profit taking. The close
was fairly steady. September opened Nc
to W soMc ana nd then @ IA advanced va to siisc. Final
quotations were at 92A@92asc. July ranged
between SSq9o7sc and closed at G Ss%@@SsHe, @ a
caused weakness in the corn market
early in the day Cash houses and longs
we're active sellers. With the advance n
wheat the market made a strong rally
and the strength was well maintained the
remainder of the session The close was
at the highest point of the day. Septem-
her opened 1sQAc lower at 5lssQ5l%c, SO sold q
off to 511sc and then advanced to 52hQ
523sc, where 1t closed. July sold between
51052Ac and closed at 52hc
Oats were weak at the start because OF
realizing sales which were based upon the
excellent weather for the new crop. The
close was at 3119Q31ssc.
The break IN grail, prices nad f,s depres. S,s.
the market later. rallied on good de-
mand by local packers. At the close Sep,
tember pork was up ioc 20 at =, $i6STIM; I,M @ lard
21Ac higher at $3.50.
Market Ranges
wheat--July, ss4@ssAc; Sept. s2A@s2ssc;
corn-July, $780, Sept. 52A@52ac; Dec.
6ats-July. 4s%c; Sept. a5k@s5ssc; May,
Cash Cash quotations were as follows:
Flour. quiet and easy, winter patents.
is@ts S5 aS ssGats d g. slafs 5sB4GinSe
bakers, 81. .60q3.5 No; 2 spring wheat s- Y
@99c No. spring, 92Q9Sc; No. 2 red, $40
$3.50. No. corn, 521Ac; No. yellow. 521sc;
No. No. %hite Sais 4 aSSi4o; Eo No. rye Sc }air
to choice mailing barley, 72Q75c; No. /
northwestern flaxseed, 81 .29h; prime TIM
othy seed, $4.75; clover, contract grades,
sis Is; short ribs, sides, loose. $S.25@S. As;
| mess pork, per bbl., s15. 5.70@15.75 lard, per
| 100 lbs, $3.50; short clear sides, boxed, IS; %
| @g0O; whisky, basis of high wines, a.3l.
| Articles. Receipts: ShpmGts; Us
| Flour, bbls ................ 900 %o0V oU
Wheat, bush ............... 1900 lSS20o S00
Corn, bush ............... 9S,dU0 o0cSo0 S00
| Oats bush ............... 24y,00O S6aUo
| Rye, bush ................. 4,WV IoV9
Barley, bush .............. S,SOo .'....'
| LIVERPOOL, June 15.-Close: Wheat,
JuIy IS 9kd; September, SIS 11hd; De-
cember, nominal.
SAN FRANCISCO June 15.-Wheat,
quiet but steady; December, $l.bS;
Barley, quiet; December, s1.21%
a Corn, quiet; large yellow. s1.5O@1.55.