The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1907-05-12
BULLS JUD|LANT
PROMISE WHEAT
GREATEST EXCITEMENT SINCE
BLACK RUST" SCARE IN 1904
IN CHICAGO BOARD.
PRICE UP THREE CENTS
Yesterday With Closings Near the
High Mark-Bslief of Great
Damage to Winter Crop
Causes Rush.

Chicago, May Excitement such
| as has not been seen on the Board
of Trade since the "black rust scare
iof' 1904 existed today, when wheat
which has been steadily advancing for
several days took another jump OF
more than three cents Frantic eff.
| terts were made 10 get from under
/ the advance by the bears but they
were met by demand which came
from all parts of the country and
swept everything before fl. The high
mark for the July option was 9l7.
cents; for September 9SM cents and
| for December 951s cents
All options closed very close to
the high mark, and with the bullsh
feeling still luabaleG
The cause of the upturn which has
taken place in the last few days is
the widespread belief thai the crop
of winte~ wheat this year will shox
a no able decrease as compared with
that of 1906
| TIL prevalence of cold weather In
the west and northwest, which is said
to be holding back the crop in those
| sections, freezing temperature in the
Canadian northwest which, it Is said,
| has prevented seeding in many sec.
40 a
been done in the southwest by the
green bug also aided the rush up
ward
! II was reported here today from
Winnipeg that not more than one
| fifteenth of the estimated acreage has
| thus far been seeded In Manitoba
and TIN weather was said to be still
lunfavorable with no prospect oi bet
Iterment for several days at least
Upturn Fooled Chicago Traders.
Local traders were of the opinion
| that wheat has been advancing 100
trapidly during the last few days, and
| that reaction was due. So many or
ders We're poured In from the country
however. to buy wheat at the opening
of the board, that 1t was certain tina.
TIE expected setback wodld not come
ntil later in th2 day.
Once trading was in full swing,
oreders from the country came so
fast and in such number that She local
crowd was carried before it. Desper-
ate efforts were made from time to
time by shorts aud SONS local traders
to stem the advance, and once they
forced the price of the July option
down "a cent. This was only tempor-
arily. however.
The food OF buying orders con.
tinued, prices starred up again and
when the market closed prices were
close TO the high mark of the day,
and the buying movement seemed to
have lost none of its force.
Some lead ng houses traded in mil.
lions of bushels during the first half
hour and the activity incr ased as
he market progressed.
Bulls Expect Dollar July Wheat.
The bulls at the close were claim.
| ing with much enthusiasm that the
price OF July wheat soon will go above
one dollar The other options NOV
ing - accordingly. Tn y base their
claims on the presumption that The
crop of winter wheat will be about
100, 100000 bushels less than the crop
Of last year because Of damage, and
this in the face Of a largely decrels
ed acreag because Of the slow seed
ing Of spring wheat a strong market
abroad. the bulls contend, prove thar
there will be srong demand for
Export from this country. which IL
may be difficult TO meet