The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-12-01
BULLISH ADV|CES
OFFSET INCREASES
Wheat Market Closes Steady
for the Gay
CORN AND OATS FIRM
Provisions Are Steady on Chicago
Provisions Are Steady on Chicago
Board of Trade-Commssion
Houses Are Moderately Ac-
tive-Wet Weather

Chicago, November 30.-Bullsh advices
from Argentina offset liberal increase
in the visible supply of wheat in the
United States, causing the local wheat
market today to close steady. Corn and
oats were firm and provisions steady.
Commission houses were moderately ac-
tive bidders for wheat at the opening ow-
ing to an advance of sd to Id at Liver
pool and to a dispatch which claimed
that an official estimate of the export
able surplus of wheat from Argentina this
year placed the amount at 10000, 900
bushels. Prices at the opening We're 40
Ac to 19c higher, compared with the pre-
vious close. During the first half hour,
however, sentiment became a trifle less
bullish on selling based on the wet
weather In the winter wheat belt the
official wheat map Indicating that heavy
rains had fallen throughout the greater
part of that section of the country during
the last As hours.
Toward the middle of the day a decided
ly weak tone developed as result of the
showing of the visible supply statement,
prices declining nearly l cent below the
high point of the day. Statistics regard
ing the available stock of wheat in Amer
lea were made public in new form for
the first time today, the visible supply
in Canada being given separately from
that in the United States. According to
this statement the stocks in this country
increased 2,94s,0OO bushels for the week,
while those in Canada increased 1,185, 600
The market rallied again late in the day
on covering by shorts which was inspired
chiefly by a cablegram from Argentina
which stated that wet weather was delay
ing harvesting in the northern districts.
The close was steady with prices &c lower
to 9sc higher, compared with Saturday s
closing.
December closed at $1.031s@1 OBS and
May at sLOS1k. New York reported new
export business amounting to ten boat
loads for the day including a few each of
Durum and Manitoba low grade wheat
Clearances of wheat and -four were equal
to 745,O00 bushels.
The amount on passage decreased 1, 496, :
900 bushels. Primary receipts were ,4S1 900
compared with 1262,000 the corresponding
day a year ago. Minneapolis, Duluth and
Chicago reported receipts of 1853 cars,
against 1862 last week and 100 a year
ago.
Despite wet weather over the greater
part of the corn belt a weak tone was
manifested in the corn market early in the
day. The poor demand for the cash grain
by shippers and exporters was the main
reason for the heaviness. Later in the
day, however, sentiment became some
what bullish owing to reports alleging
that country roads are getting in poor
condition owing to the wet weather Lo-
cal bulls and shorts we're moderately ac-
tive bidders during the last half of the
session which caused firm close. Final
quotations were a shade to &c higher
compared with the previous close. De-
cember closed at 62ssc and May at 62s4@
62%c. Prices at the sample tables were
A@hc lower. Local receipts, 10 cars;
three contract.
Liquidation of December holidays by To-
cal longs caused weakness in oats early
in the session, but the market rallied
later in the day owing to buying by shorts
and elevator interests. The close was
firm with prices hQAc higher. Final
quotations on December were 1880 and on
May ole. Local receipts, 1877 cars.
Provisions were quiet and steady. A
1Oc advance in the price of live hogs
resulting from smaller receipts had a
steadyng influence Prices at the close
were unchanged to 21ac higher.
Estimated receipts for tomorrow
Wheat, 90 cars corn, 1853 cars; oats, 194
cars; hogs, $4,000 head.
Leading futures ranged as follows.