The Birmingham age-herald., 1908-09-09
WHEAT STRONGER ON CROP REPORT Gain Is Slight As Profit Taking
 Is Very Lively CROP CONDITION BULLISH Continued Dry Weather in the Corn Belt Induces Buying in Anticipa-
 ton of Short crop-oats and
 Provisions Higher.
CROP CONDITION BULLISH

Chicago, September S.-The government crop report caused a strong upturn Ill wheat prices on the local exchange to- day, but liberal proht-taking late in the session reduced the gains to only slihgt lead at the close, compared with final quotations of the previous session. Corn, oats and provisions closed strong.
 The condition of spring wheat at the time of harvesting, according to govern ment statistics, was 77.6 per cent of q normal crop, compared with S0,7 per cent a month ago, and the total yield esti- mated at 3S600o,Ooo. The report was gem erally considered of bullish character, inasmuch as the total yield was estimated at only about 100000 bushels in excess
 of last years crop, and, while last year
 the stocks of old spring wheat in terminal
 elevators and at interior points were large, the reserve in store at the present
 time Is small. Prices responded readily to the buying which followed the publica-
 ton of the report and advanced to 1q1A points above the low marks of the day. The market had previously displayed con siderable strength, owing to a moderate UcIldnu Dy COIlHllSSlOn HOuSeS, ut6pltt Il decline of more than Id at Liverpool. and also despite liberal receipts in the north
 west. The movement in the northwest, however, was not so heavy as had been expected, total arrivals today at Minne- apolis and Duluth beingz1S56 cars, while about 2500 cars had been predicted. Ex-
 port business today, according to reports, T1raptipa11u nil bi1t lS reported as having been worked since Saturday. The market lost nearly all it's
 strength late in the day because of free
 selling for profits, and closed barely
 steady with prices unchanged to 1sc high
 CT, compared with the final quotations of Saturday. Clearances of wheat and flour
 were equal to 40S0O0 bushels. Minneapo- lis, Duluth and Chicago reported receipts
 of 1119 cars, against 75S last week and 99l
 year ago.
 Continued drouth in the corn belt was
 the chief reason for a strong market for that cereal the government report having
 very little effect. The government figures,
 which showed the condition of the crop to be 79.4, as against S25 a month ago,
 were about what had been generally ex- pected. Numerous reports were received
 today telling of corn drying up, and there were also advices which claimed that the crop in northern Indiana had been dam- aged by frost. Corn at the sample tables was up 1aQ1c, despite liberal receipts ! there being a brisk demand by elevators | and cash interests. The market closed strong. with prices 1ac to 5s@s4c above the
 previous close. Local receipts were 42C cars, with 15O of contract grade.
 Trade in oats was light and the market was firm, chiefly on account of the
 strength of wheat and corn. Cash prices were steady to 4 of a cent higher. The government report caused considerable covering by shorts and helped to hold the market firm. The close was firm
 with prices 1s@Ac to sso higher than Saturdays close. Local receipts were 3S3 cars
 The provisions market was dull, but firm. The market was Dullisny affected by the strength of corn and bv small receipts of live hogs at western packing centers The total arrivals of hogs today were estimated at about 10000 head, in excess of those of the corresponding day
 a year ago. Buying of October lard by
 the packers and shorts was the feature of trade. The market closed firm, with
 prices 21ac to 10Q12c higher than the previous close.
 Estimated receipts for tomorrow: Wheat 1 140 cars corn 432 cars, oats 253 cars, hogs | 23 900 head.
 Loading futures ranged as follows: