Los Angeles herald., 1907-06-02
CHICAGO GRAIN MARKET
Wheat Prices Decline Two Cents,
Owing to Heavy Sales Due
to Warm Weather
BY Associated Press.

CHICAGO, June 1.-Wheat prices on the
local exchange declined nearly &c pei
bushel bus lei. today because of sellingNProught
the United States and Canada. At the
close the July delivery showed a net loss
o. 11RGy15sc. September was down 16111sc.
lower and provisions lOm121ac to 30c lower.
Weather conditions IN America were
the dominating influence with wheat
traders today, the Situation in Europe
being temporarily relegated to the back
ground. The wea.her bureau reported
general rains in Kansas, Nebraska, Iowa,
perature in Minnesota, the Dakotas and
the Canadian northwest. A general bulle-
TIN issued from Washington also pre-
dicted that beginning next week the coun-
try in general would experience much
warmer weather These were the influ-
ences that inspired the selling move
fairly active buyers early in the day, the
demand from that source was light. 1t
was claimed that fewer buying orders
were in the hands of the leading commits
sion houses than at any time since wheat
touched the magical dollar" mark.
Throughout the day pit traders and small
steadily declined. The market closed
weak with prices only a tritie above the
lowest point of the session.
July opened a shade to 14W3sc higher at
994@J9f3c sold off to 97asc and closed at
$3.50. September opened shade lower
TO a shade higher at $1.oO9sQ1OOA, sold
II
quotations were at 995sc
The corn market was weakened to a
slight extent tent =, by the breeak in wheat
quiet. Country offerings over night We're
reported as being more liberal, but they
were still considerably below the normal
was again in active demand by eastern
shippers and this tended to steady the
market for options. The close was easy.
July opened BG &c higher at 54G54Hc,
sold off to 559sc and closed at 5S5kc.
Realizing sales by leading longs caused
weakness in the oats market. The i'm
proved weather conditions and the slump
in wheat were the main reasons for the
selling pressure. July displayed some
firmness early in the day ,bTt finally
opened 1sa3sc higher at 495s@l9zc, sold
off to 4S7sc and closed at 49c.
Provisions were affected by the weak
ness of grain and ruled weak the entire
session. Local packers were the prin-
clpal sellers, while the buying was scat
tered. AT the close July pork was down
80 cents to Sl6.2O. Lard was off 1Od12lhc
at $9.17h. Ribs were 1215c lower at $S771b |
Market Ranges
nvvtsso Whe9tmJuIiy a., 97asc; September, 997sc;
Corn-July, 535$c; September. $3.50; De-
Oats-July, 49c; September SOC; Decem-
ber, 4l1s@41Ac.
Cash quotations were as follows:
Flour-Barely steady; winter patents,
SS.9OQ420; straights, $3.S0@3.95; spring pat
sats, 6aFers S;5S@Ss? s5SSSs5 straishts 's6o@4'5;
- WheatZNo; spring, $l.OO@1.O4; No; 3,
2, 54c; No, 2 yellow, 544G541ac. Oats-No.
q Acc; No. 2 white, 49c; No. 8 white, 466
4SRc. Barley-Good feeding, 6SQ69c; fair
to choice mailing 69@73c. Flax seed-No.
northwestern, $1.311k. Prime timothy
seed, SAFE. Glover, contract grades, $15.25.
Provisions-Short ribs, sides Qoose),
IS. 8.6215QS.75; mess pork. per Dbl, $l6.121A6
1925; lard, per 100 lbs. S910; short clear
sides (boxed), $9.0O@9.25.
Articles Receipts. Shipments;
Flour, barrels .......... 34,400 25700
Wheat. bushels ......... $1,000 15500
Corn bushels ......... .5S5, 500 264N
oats, bushels ...........2S1S0O 2S0 200
rye, bushels ........... l,000 200
Barley, bushels ......... 36,lOO $4,000
NEW YORK, June Wheat. spot
easy; options closed " a. 9sc lower;
July, $1,05i September, $1OSB; Decem-
y Hops quiet; Pacific coast 1906 crop,
@11c; 1906 crop, 6@Sc.
Wool, steady; domestic fleece, SEQ
Petroleum, steady
Turpentine, steady; 621s a 6Sc.
SAN FRANCISCO, June 1.-Wheat,
steady December, $3.50 asked; cash.
Barley. steady; May. $12s bid; De-
cember, $1.251s; cash, $1.23&
Corn, steady; large yellow, $l.5bQ |