The Birmingham age-herald., 1908-09-03
ANOTHER JUMP IN
 PRICE OF WHEAT Advance of Two Cents Is Made
 Early In Session SOME GAINS ARE LOST Wheat Market Is Strong All Day-corn Closes Weak Owing to General
 SelIing-Oats and Pro-
 visions Higher.
SOME GAINS ARE LOST

Chicago, September 2.-The wheat mar ket was buoyant today and prices ad- vanced Pc from the low point of the ses- sion. Part of the gain was lest on profit taking, but the close was firm at net gains of 9sc to 71Q7sc. Corn closed weak as a result of liberal realizing sales, but oats and provisions were strong.
 The wheat market was strong all day. and the volume of business was larger than for some time past. Much bullish enthusiasm was manifested by profess sionas, many of whom replaced lines re- gently sold out. An announcement to the effect that the Duluth and Minneapolis exchanges had decided that ''velvet chaff' wheat must be carried in a sep arate grade and cannot be applied on contracts caused considerable comment on the floor of the exchange here, and was largely accountable for the strength of the local market inasmuch that it is claimed that there is a large amount of that grain in the northwest this year, and the ruling out of this variety will cut down materially the amount of contract supplies at those two grain centers. The | deeision caused sharp advances at the 1 two northwestern markets. Other factors that helped to create bullish sentiment were the urgent demand for cash wheat at Minneapolis by elevators and mills and large sales of flour at that point. l During the day the September delivery, i which opened at 96bQ97c, advanced to
 9s1kc, while December, which opened at ! 9eAq96Ac. sold up to 97Tsc May sold at
 s1.01h.
 The market reacted considerably late { in the day because of realizing sales. but
 closed firm, with September at s73sc and December at 96%c.
 Clearances of wheat and flour were
 equal to 469,0OO bushels.
 ! Primary receipts were 943,OO0, compared
 with 5000 bushels the corresponding day
 a year ago. Minneapolis, Duluth and
 Chicago reported receipts of 525 cars, against 451 last week and 466 year ago.
 New high record marks for all the de-
 liveries of corn for the season were made
 today as result of active buying py
 shorts, the September option selling at soc. Small contract stocks and the con tinued light movement were the chief
 reasons for the upward movement of
 prices The action of the wheat market
 also helped to force prices higher Num-
 erous reports were received today telling
 of much corn in Illinois being spotted l The market slumped severely late in the
 session, owing to heavy realizing sales, the September delivery showing the great est loss and selling off to 7S%c
 The market closed weak. with prices 1 1s@s4c lower Final quotations on Sep
 tember were at 7S%@79c. Local receipts 19O cars, with 37 of contract grade.
 Trade in oats was active, and the mar ket was strong all day. Commission | houses and shorts were active buyers. | and offerings at no time were excessive. 1 The bulge in wheat was an important | bullish factor. The close was firm, with prices hQ3sc higher. Local receipts were | 215 cars.
 1 Provisions were strong throughout the entire session, owing to active buying by packing interests. The chief bullish in- f1uence was the monthly report of stocks, which was made public after yesterday s close, and which showed material de- creases in all products, particularly lard. At the close prices were from 5471ac to BOG higher, compared with the previous close Estimated receipts for tomorrow Wheat 4S cars, corn 206 cars, oats 225 cars. hogs 10000 head.
 The board of trade will be closed next Monday, Labor day.
 Leading futures ranged as follows: