Los Angeles herald., 1908-11-18
CHICAGO GRAIN

fspeciaI service to The Herald by ]. c. Wi,
son. member Chicago Board of Trade Hotel
Alexandra, Los Angelesl. ..-,,,
cI5TCAGO Nov 17-Wheat was easy early
on easier cables with the continental ci ,n',s
weaker than Liverpool BroomnalI eAplaia
ton of the easiness was further rains In SOUTH
ern Buenos Ayres. favorable TO the crop tne
northwest receipts made more laNoIaple
shaving compared with last year. Inc weather
continued dry over the greater portion Oh the
belt The local professional and scalpinS ere
ment were largely bearish and were causn.
short on early small declines ana When II wa
found the big line of wheat was held on the
market there was q scurry to cover Whlch
disclosed the extent of the congestion ana re-
suited in a quick advance Inc real Lact so
that made the shorts uneasy was ah1.nel ui@.a..
from Kansas and Oklahoma OF a largely re-
d,,ced acreage For the time being the Dig
holding In this market is the feature ana VIC
assume that as long as 1t is held intact re-
actions will be moderate IN other "oius.
whenever a short interest of sufficient extern
accumulates we may look 10 see any eIorts
at covering to be executed at loss.
The Inter Ocean this morning says A Dear
ish sentiment was pronounced among the IHhA
and file of the wheat traders last night as they
were short and were playing to scare the pun
leaders because of the big receipts and the Iaet
that visible supply crossed the oooooooV 1 aca
making it the largest at the time since 4sVo,
Those who were very bearish saw nothing 10
the immediate outlook to advance prices ana
said that they were inclined to press the peat
~ ntinued heavy receipts Attention was called
10 the fact that all the statistics were against
the bulls and that the latter were not making
an open fight, but are standing on the Wheat
that they have bought and allowing the crowd
To sell the price off and create a larger snort
interest which will have to be bought some
time. A few close observers predicted that
prices today will close higher. Professionals
who were in the corn market all day described
the weakness as due to the shorts getting in,
and as one Of them put it, the demand faded
away and prices naturally yielded. feature
that attracted attention was the Increased or
ferings by the country, particularly from Iowa.
canvass of the late day trade placed pur-
chases in the west and in Illinois at between
300 900 and 400 900 bushels. This was taken as
indicating that around present prices holders
west Of the Mississippi river are inclined TO
sell freely.
Shearson, Hammill & Co.'s Argentine cable;
Crop prospects for entire country below the
average Drought still continues.
Primary movement: Wheat-Recetpts today
l. 1885, 900 last week, 1,24s000; last year, $4,000
Shipments today 13S5,O00; last week. 4O6OO;
last year, 1,043,0O0
Corn-shipments today, 462, 900: last week, 1885,
00G last year, 100000. Receipts today S4lOOO;
last week. 225, 900; last year, 100000.
Corn and oats were helped by the strength
in wheat There is accommodating evidence of
increased movement in the country. Without
a break up in the weather conditions we stu
believe a good sized movement is on the way
Provisions opened weak on enormous run Of
hogs here and west, but rallied later, chiefly
Influenced by the strength in the grain market