The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1907-05-16
DECEMBER WHEAT
JUMPS UP 8 CENTS,
Takes Tremendous Rise on Chicago
Board, Reaching S1.o3
Bushel

Tremendous jump at lHe upClliHS vi INV
board of trade today, initial prices show
ing Il gain ON the leading options IA to
5 cents, the latter advance being on the
December delivery which sold at Sl.o3.
The opening on the board was the
widest and most exciting that has been
seen in several years. The predictions
made by bulls ON Saturday night that
dollar wheat would soon be Il reality was
brought about within a few calls after
the opening. both September and Decem-
Der selling above the predicted price, De
ccmher going as high as Sl.Uo. The
trade was too big and too broad to follow
exactly. but every commission house was
stacked up with baying orders which
were To take the wheat at the market
price. The feeling in the country that
the winter wheat crop has been badly
hurt was even stronger than on Saturday
and the demand came from all parts OF
the United States
No End to Demand.
Many traders realized heavily on the
enormous bulge at the opening, but the
big demand continued ana the selling had
apparently not the slightest effect. l'riccS
continued to advance steadily The l.lV-
erpoOl market was reported strong and
there was sharp advance At Mime
apohs because OF small worlds SHIP
mcnts and unfavUrable weather III the
northwest.
At 10 O'Clock July wheat was selling
mt % IS aud September at % IS, both
having dropped back somewhat under
selling pressure.
Brokers in Frenzy.
The scene on the board of trade for
the first half hour after the opening was
the widest that had been witnessed
there since the collapse of the Letter
corner III 1898 Brokers made the most
frantic efforts to ill orders for wheat,
but in many cases were unable to buy
within to > cents of the expected
prices, rapid were the fluctuations.
The entire country seemed to be back of
the buying movement and although the
conservative traders on the local board
seemed to be largely of the opinion that
the advance was too abrupt To mold the
flood of buying orders from the coun-
try continued and ii was evident that
for some time at least the market would
have ample support.
Fluctuations Later in Day.
The market at 1913 o'clock reacted
considerably. December wheat was
down to ~. cents below the high mark.
September was selling at 9sAc, july
at 96c. The May option was nomnaiIy
gGls
l ne llalktI WAS tNlilIuIullN'iN NNtfN
after II O'Clock and prices held steady
around o6c for July and 81, for Sep
TENDER. Numerous reports poured IN
from the southwest rs to the amount Of
damage done by the green bug and the
buying orders from the country CON
tuued in undated volume. Professional
traders. however. sold heavily and threw
much long grain upon the market. At
] | 80 o'clock July was 9G and September
9T7S. the prices not having varied mate
rally within half an hour
Final Figures on Exchange
Under heavy selling for profit all of
the options sold off. Final quotations
found the July option up 1 cents above
the close of Saturday ut % 5-Sa@.
September was also up cents at ~
IS De cember was / Is cents higher
at % Is.
Tremendous New York Sales.
NEW YORK. May 13.-"Dolar
wheat on the Chicago board If trade
today was reflected in violent advance
ON the produce exchange here. wher"
trading assumed tremendous proportions
attended with much excitement. The
entrance IF the public in the local grain
market was u feature of the days trad
( ing.
July Wheat Opened at 1902.
an nL,,,,,o az ,o,+s o,.or S,t,,r,I,,.7
an "","nIc " NIu,H uhri '"t u 'IH :
FOL and 1885. an advance of I cents
over the close Saturday. December
jumped from lOi to 1881. AT the open
ing having closed Saturday at 1913. In
ia 49,. Ln,,r If trading i i u.tin,tnJ
,,.,,. > op1 oGo L,.L,I- I,aro bou,Lt mi
w ;-'"pI'''oo ""'''N'7 VIZ "'"7"' an"
s"!u III iIlr PIT
W htn the gong SOUNDED Tor me open
9 a II,