Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-09-13
FINANCE AND TRADE IN
MARKETS OF THE WORLD
THE GRAIN MARKETS.

AAA4ASA3SeSs
CHICAGO September 12-Reinstate-
ment today by leading bulls of lines sold
out yesterday caused strength in the
wheat market, final quotations showing
net gains of IS to &a7sc. Corn and oats
closed steady, while provisions were
strong. The wheat market displayed con-
siderable bulishness nearly all day de-
spite the record-breaking movement of
new wheat in the northwest. A slight
dip occurred during the first half hour,
due to selling based on the liberal re-
ceipts at Minneapolis and Duluth, but
the market soon rallied again and con-
tinued firm the remainder of the day. Ar
rivals today at Minneapolis were 536 cars
and Duluth reported receipts OF $40 cars,
while Winnipeg followed closely with 3S1
cars, compared with 80 cars year ago.
This enormous movement failed to al
feet the market to any extent because OF
the fact that the demand for cash wheat
in the northwest was more than equal TO
the supply, and todays entire receipts
were eagerly taken by millers within an
hour after they were placed on sale.
few of the bull leaders who were free
sellers yesterday gave the market vigor-
Gus support today and this buying was
largely responsible for the firm tone which
prevailed the greater part of the day.
Higher cables, continued dry weather In
wheat at all grain centers in this country
were factors that inspired buying. some
export business was reported To-Day,
twenty-three loads in all, with six loads
from Chicago.
The market closed strong at almost the
highest point. Clearances equal to 912,-
600 bushels. Primary receipts were 1856
coo bushels, compared with SoO.OOO the
corresponding day a year ago. Minneapo-
lis, Duluth and Chicago reported receipts
Of 1927 cars, against 81 cars last week
and 427 cars a year ago.
Heavy realizing sales caused weakness
in the corn market early In the day, par
ticularly In the September delivery, which
declined 1c during the first hour. The
market, however, became ''oversold,' and
an attempt to cover earlier sales of the
pit traders soon bid up prices to about
the opening level. The situation in the
corn belt remained unchanged, clear
weather prevailing in all sections. and
there was no prospect of any immediate
break in the drought, the official fore
cast being for clear weather for the
next thirty-Six hours.
More reports were received today telling
Of pasturage damage, and advices claimed
that green corn was being cut and fed to
stock The market closed steady with
prices Is higher to 1sc lower. Local re-
ceipts were 297 cars, with 66 Of contract
grade.
Early weakness Of corn had a depressing
market became quite firm. owing to buy
ing of the May delivery by leading cash
interest. Trade in general was quiet.
An improved demand for cash oats was
in evidence, and this inspired some buy
ing of options. The market closed steady,
with prices unchanged to 1sc lower. Local
receipts were 31S cars.
Trade in provisions was on large scale,
and the market displayed deciued strength.
The bullish sentiment was due chiefly to
80 L., otx~ee, NJ
western packing centers and to the poor
quality of hogs being received here, the
majority Of arrivals. 1t was claimed, being
very thin. The high.price of corn was said
to be the reason for the poor condition of
swine. There was good buying for foreign
account, and local packers and shorts also
bought freely. The market closed strong
at the top notch, with prices up 7h to
25c compared with the previous close
Estimated receipts for Monday: Wheat,
A cars; corn, 23O cars; oats, 233 cars;
hogs, SO, 600 head.
NEW YORK, September 12.-Flour: Re
ceipts. 1891 barrels; exports. 10000 bar
rels. Quiet and about steady. Minnesota
patent, 5.35a5.75; winter straights, 4.1Oa
425; Minnesota bakers, 4.20a4.65; winter
extras, 3.4Oa3. So winter patents, 4.Da
475; winter low grades, 3.3Oa3 10.
Rye -four quiet; fair to good. 4.15a46O;
choice to fancy, 4.55a4.65.
Corn meal firm; fine white and yellow,
1.75a1 80; coarse, 10; kiln dried, 4.25.
Rye dull; No. 2 western. S41s f. o. b.
New York.
Barley steady; mating. 70a72 C. 1. f..
Buffalo; feeding. 69A C. /. f. New York.
Wheat: Receipts. $1,000 bushels; spot
barely steady; No. red. 1.031aa1.O 5; ele-
vator; No. 2 red, 1.0411 f. o. b. afioat i;
No. 1. northern Duluth, 1.O9h +. o. b.
af1oat No. hard winter. 1.O8H f. O. b.
afloat. After steady opening based on
firm cables, wheat eased off on northwest
selling. and with corn closing u to NC
net lower. September closed at 1O512; De-
cember, LOS 7-16a1 .Ooh: closed, 1.O511;
May, 1.O7%a1.O7 1915: closed LOTS.
Corn: Receipts. 2O.425 bushels. Spot
steady: No. 2, 80 nominal elevator and
S9k nominal delivered. Option market was
without transactions. closing " to " net
lower. September closed 49, December
closed 1885. May closed 75N.
Oats: Receipts 145. 800 bushels. Spot
market quiet; mixed. 26a32 lbs. 5211; nat
ural white, 26a31 lbs, 54a56; clipped white,
32a40 lbs. 56a62.
Hay dull; shipping, 55a6O; good to
choice, 10.
Hops dull: state common to choice, 1907.
4a7; 1906. 2a5; Pacific coast 1907, sal;
1906, 3a5.