The Birmingham age-herald., 1908-12-09
WHEAT CONTINUES
 SHARP DECLINE Days Losses However Are
 Later Regained CORN CLOSES STEADY
CORN CLOSES
STEADY
Oats Are Strong and Provisions Are Steady-lncreased Recei pts and Favorable Weather Affects
 All Grain Quotations.

Chicago, December S.-Duplication of yesterdays sharp decline in wheat prices on the local exchange broke approxi- mately cents per bushel today as a re- suit of general selling, but excepting on the December delivery all of the loss was later regained and the market closed fairly steady. Corn closed steady. Oats were strong and provisions steady.
 Following a moderately firm opening, due to covering by shorts and buying by bull leaders, the wheat market developed decided weakness toward the end of the first hour. owing to renewed selling based on the bearish showing of the govern ment report Before the decline was checked, prices had dropped 19lG2 cents from the high point of the day. The sell ing was apparently overdone and when leading holders began to buy again prices readily rebounded to almost their former position. The upturn was aided by small receipts in the northwest and by an increase of 1,O52, GOO bushels in the worlds visible supply, compared with an increase of 1,sSS, ,O00 bushels for the corre- spending week a year ago. Prices at the close were 1s@4o higher to 5sc lower, the December delivery being relatively the weakest month. Final quotations on December were S1.03% and May $1.0S7sO 1.09. Clearances of wheat and flour were equal to 27s0OO bushels. Primary re- eeipts were 644,OOO bushels compared with 966,OO0 bushels the corresponding day year ago.
 Liquidation of the December delivery, which carried the price of that option down more than 1 cent, and weakened the market in general, was the feature of trade in the corn pit. Increased re- ceipts and continued favorable weather for the marketing of the grain were the chief reasons for the selling pressure. In cidentally the December-May spread widened from cents yesteday to 3 cents today. There was an improved demand for cash corn, but demand was still linn tied and prices at the sample tables were off 1 to 11a cents. All of the loss on future deliveries was regained late in the day, but the December option at the close was still s4c below the previous close.
 The market closed steady with Decem- Der at 59AQ593sc and May at 629sc.
 The severe slump in wheat caused mod crate weakness in oats early in the day, but substantial rally occurred during the last half of the session, the mar ket closing strong with prices 1a@5sc to 7sc above yesterdays final quotations. An active general demand based on the smallness of the movement was respon- sible for the late rally. Oats at the sam pie tables were steady to shade lower. Final quotations on December were 5OAc and on May 527sc.
 Provisions were quiet and steady al though sentiment was a trihe bearish as a result of continued liberal receipts of live hogs. Local packers were cred tied with moderate sales. At the close prices were 21Ac higher to 215c lower
 Estimated receipts for tomorrow: Wheat S5 cars, corn 227 cars. oats 67 cars, hogs 41,00O head Minneapolis Duluth and Chicago reported receipts of 462 cars of wheat against 694 cars last week and 9O9 cars year ago.
 Leading futures ranged as follows: