The Birmingham age-herald., 1908-10-31
WHEAT JUMPS HIGH ON FROST REPORTS Argentine Crop Is Said to Be Very Heavily Damaged REPORTED LOSS ENORMOUS Corn Market Is Easy, But Becomes Firm on Account of Small Move
 ment-oats Higher and
 Provisions Strong.
REPORTED LOSS ENORMOUS

Chicago, October 30.-Sensational re- ports of damage by frost to the Argen- tine crop caused sharp bulge in wheat prices on the local exchange today, prices at the close being up 3sc to 1Rq5sc. Corn was steady and oats and provisions were strong,
 The wheat market opened easy with prices 1sq54c to ssc lower. due to unex- pected weakness at Liverpool. Moder- ate demand by a leading elevator inter- est caused a slight rally during the first part of the day but no decided strength developed until within the last hour, when it became bullish as a result of the alarming reports from Argentina regard ing the condition of the new crops. These reports brought out active covering by shorts which caused the market to close at almost the top of the day with De- cember at $1001aQD1 00ss and May at $104 The most important of these dispatches was one received from a supposedly re- liable source which placed the injury to the Argentine crop by recent frosts at 30 per cent of the entire crop.
 Another report estimated that the amount of wheat from this years crop available for export will be nearly 50,- 000000 bushels less than the exportable surplus of the previous crop. The mar ket was also considerably strengthened by the cash situation in the northwest Pre- miums on cash wheat at Minneapolis made further advances today, No. north ern selling at 312c over the December de- livery.
 The southwest also reported brisk de- mand for the cash grain with offerings from the country much larger Weather conditions were again favorable for the sown crop and for the movement from the northwest. Export demand was dull clearances of wheat and four were equal to 545, 900 bushels. Exports for the week, as shown by Bradstreets were equal to 5,464,0O0 bushels. Primary receipts were S6S, 900 bushels, compared with 795,000 tho corresponding day year ago. Mime apolis Duluth and Chicago reported re- ceipts of 492 cars, against 631 last week and 5SS 8 year ago.
 The corn market was easy early in the day but became firmer during the last half of the session and closed at almost the best prices of the day. The chief fac tor in the situation was the continued small movement despite the favorable weather conditions An advance of 1Ac to 1c in the price of the new corn at the sample table also had some influence. December closed shade higher than yesterday at 6334Q637sc. Local receipts, A cars IA contract grade.
 Oats displayed considerable activity and strength late in the session and closed at gains of 1sc to 9sc with December at 4S4c and May at 501sc. Buying by cash interests was the chief reason for the late strength, She demand meeting with very light offerings. Local receipts, 11S cars.
 Provisions were rather weak early in the session because of selling based on liberal receipts of live hogs, but became firm late in the day on covering by shorts. At the close prices were 21ae lower to 221sc higher.
 Estimated receipts for tomorrow Wheat, 51 cars; corn, P; oats, IA; hogs, 1S.00O head.