Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-08-16
THE GRAIN MARKETS.

CHICAGO, August 13.--Liberal sales by
leading holders caused slump in wheat
prices on the local exchange today, the
September delivery closing at a net loss
of 1c. Corn was 11sa1A and oats were 1a1N
lower. Provisions were 5 to 12hc higher.
The wheat market made a brief show of
strength at the start. owing TO additional
rains in the northwest. which partially
offset the effect of the weakness Of for
eign markets. Before the end Of the
first hour. however. prices had started
on the down grade as a result of free
selling Of December by two influential
longs. This selling brought out consider
able sales from smaller holders, and be-
fore the decline was checked prices had
dropped from 11sa1Ac to 1&a11sc below
the high points. A prediction that the
shipment of new wheat from Nebraska
and northern Kansas will begin within a
few days inspired additional bearish SEN
timent
The break in corn also added to the
weakness The market continued heavy
the balance of the day and closed weak
at almost the bottom. September opened
haA lower to a shade higher at $3.50 to
941sc, touched 94A, and then declined to
ances of wheat and -four were equal to
$4,000 bushels. Primary receipts were
$4,000 bushels, compared with $4,000
bushels the corresponding day year
ago. Minneapolis, Duluth and Chicago re-
ported receipts of PAT cars. against 2S1
cars last week. and 337 cars a year ago.
General rains throughout Iowa and
other portions of the corn belt were the
main reason for a severe slump in corn
today. The September option was sold
be much more liberal In the near future,
while the December option was sold on
the theory that it's premium over May
was too great. The Illinois crop report
~r. N~~, tvx <n$
14366 acres and a gain Of 2 points In
condition compared with the government
figures. The market was weak through
out the entire day and closed only trifae
above the low mark. September opened
haA to Aa% lower at 76s to 1914. sold
at 765sa77, and then declined to 7o1s. The
close was at 1874. Local receipts were
100 cars. with f1fty-one of contract grade
Oats were weak in sympathy with other
grain. There was some selling by local
holders and also moderate offerings from
cash interests September opened " to 4
lower at 48N to 467s, sold of to ASH and
closed at 457sa46. Local receipts were 2O4
cars.
Although trade in provisions was quiet.
the market was firm the entire day be-
cause of 1Oc advance in live hogs. AT
the close September pork was up 121fc
at 1J.O7l2. Lard was &c higher. at 30
Ribs were 5a71ac higher at 8. 1OaS.72,1.
Estimated receipts for Monday: Wheat.
hogs, $4,000 head.
MINNEAPOLIS, August 15.-Wheat:
Close-No. 1 hard. 1.25a1.28: No. ! north
ern. 4 23a1.25: No. 2 northern, 1.2Oa1 Fl !;
No. northern, 1.14a1.10; September,
1O1M; December, 9Sh.
Flour-First patents, 615a6.2o: second
patents, 6.OOa6.15: first clears, 4.3oa44o;
second clears. 3.5Oa3.60.
Bran in bulk, 19.J0a2O.OO.
MILWAUKEE. August 15.-Wbeat-No.
1 northern, 117a1 IS: No. 2 northern, 115a-
LII; September, 93s bid.
Rye-No. 1, 7sa79.
Barley-No 2. 20; sample. 53a85.
Corn-No. 3 cash, 7sa7S1s; September,
75% bid.
DULUTH, Mimi, August 15-Wheat-
No. / hard, 1.19; No. 1 northern, LIS bid /;
No. northern. 1.13 bid; No. 1 northern,
new, 1.O6N bid: September, 1O1b bid;
December, 9Sh bid.
ST. LOUIS, August 15.-Wheat-No. 2
red cash. 941sa9o11; No. 2 hard. Sha9S;
September, 93h: December, 95a9S.
Corn-No. 2 cash, Is; No. 2 white. 7Sa-
49,: September. 74s4; December. eos.
Oats-No. cash. 47h; No. white,
5O1sa51; September. 45as: December, 4s1s.