The Birmingham age-herald., 1908-09-02
WHEAT JUMPS UP
 NEARLY TWO CENTS Market Is Strong All Day on
 General Buying FOREIGN CROP IS SHORT Corn Opens Weak, But Soon Strength ems, Owing to Active Buying By
 Bulls-oats Higher and / Provisions Lower.
FOREIGN CROP IS SHORT

Chicago, September 1.-An advance of nearly Pc in the price of wheat for September delivery, due to urgent de- mand by sh orts caused general strength in the whea market today. prices at the close being up % @ Bc to 11sc Corn and oats also were strong, but provisions closed easy.
 Interest in the wheat market cen tered in the dealings in the September delivery and in the sharp advance of at option growing out of It's congest ed condition. The market was strong all day and closed almost at the top point. At the opening prices were sh hadow lower to $c high CT, first quo tations in September being at 95 s Co 95s sbc and on December at 95 A @ 95 1sc. A moderate advance at Liverpool was partly responsible for the initial firm ness. Shorts and cash interests were active bidders for the September de- livery early in the day and continued to bid freely throughout the entire ses- sion. The general news of the day also helped to strengthen the market. One of the principal factors of a bullish na- ture was an estimate on the world s crop of wheat made by the Hungarian minister of agriculture which placed the entire yield this year at 55000,o00 bushels less than last years crop. This estimated falling off in the yield, to- gether with the generally recognized depletion in the worlds reserves, 1t was claimed, made the position of sh orts very precarious one. At the same time the cash wheat situation In the north west was also bullish, the markets there ruling strong despite lib eral receipts. Red winter wheat 'n the cash market here was firm, but the hard winter variety which Is not de- livered on contracts, declined to drag The highest point reached by the Sep tember delivery during the day was 97Bc. December in the meantime sold up to 96h@96%c. The market closed strong, with September at 96%c and December at 96hc. Deliveries on Sep tember contracts today were 950,000 Clearances of wheat and flour were equal to 562, 900 bushels. The worlds s visible supply as shown by Brad streets, increased 2,775,000 bushels Minneapolis, Duluth and Chicago re- ported receipts of 75S cars, against 444 last week and 754 last year.
 The failure of the predicted frost to materialize last night in Nebraska caused considerable selling of corn at the start, which resulted in slight weakness. The market, however, 500 became strong, owing to active buying by local bulls, the September delivery showing special strength. One of the chief bullish factors was the report of a local crop expert, which claimed that the new crop of corn in the west Is the poorest In condition of any crop since 1901. Prices at the sample table were 1h ole higher, and sales were estimated at ITO, 900 bushels. The top price for September was reached at 791ac, a new high record mark for the season. Tn Q market closed strong, with prices up A @19sc, September and December closing at the top at 79&c and 67% e, respectively. Local receipts were 407 cars, 104 contract grade.
 Sentiment in the oats pit was rath hec bearish at the opening because of local receipts, which were nearly 100 cars more than expected. The market, how ever, soon followed other grain in the upward movement and continued firm the balance 6f the day. The market closed firm, with prices up A@asc to Mc. Local receipts 427 cars.
 Liberal receipts of hogs at western packing centers caused weakness il provisions, sentiment being bearish all day. The market closed easy with prices unchanged to A c lower.
 Estimated receipts for tomorrow Wheat 5S cars, corn 192 cars, oats 210 cars, hogs 23 900 head