Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-12-02
CHICAGO GRAIN

Especial service to The Herald by j. c. WI,
son. member Chicago Board of Trade, Hotel
Alexandria, Los Angeles).
CHICAGO, Dec. THE bulls patience was
finally rewarded today by a temporary turn
in the trend Of news and statistical develop
ments in wheat Liverpool was strong and
weather very cold all over the winter wheat
belt with small covering, but tenn
peratures were sharply lower, both west ana
northwest Acceptances by the bull party of
], 250 900 bushels of cash wheat put out on de-
livery and charters made in this market for
225 600 bushels to be loaded before the close
of navigation. Cash wheat in the sample
market was steady There were no features
to the market except continued aggressive sup
port by the interest already so heavily identi-
fed on that side
corn The weather was the kind required 10
assist in the movement Demand for ship
ment was very small. Cash market was \ to
&c lower Altogether it would seem that the
strong wheat market has had more TO 90
with sustaining corn prices today than any
Independent strength of its own
The usual small speculative interest existed
throughout the day in the oat market
There was better hog market at the yards
The market responds easily to outside buying.
This mornings Inter Ocean says;
In the late gossip on the curb attention was
called by wheat traders to the fact that the
closing prices Monday were the highest on the
crop and within 5sc of the top point of the
season. 1t was also pointed out that the mar
ket showed more evidence or Tightening ana
one of the large commission men remarked,
''If the bears cannot get prices down with an
increase of Abb 900 bushels in visible and with
all of the depressing factors that they have
had in their favor of late, they might as well
give up" Bull traders notified their friends
rot to pay any attention to the visible supply
as It Is not a fair indication of real situation
regarding stocks. Pit traders said they were
afraid TO sell much wheat short because 1t is
inrossible to buy it back when they try to get
profits without advancing prices and those
who have sold out their long wheat are AFRAID
TO buy any more. 1t was said there were
fewer trailers on the bull deal now than at
flny previous time. 1t is said that the snow
report on the winter wheat acreage which Is
due today will be bullish and that the con-
dition on winter wheat Is likely to prove some
what disappointing to those VINO expect low
figures as conditions in the southwest are bet
ter than the trade here has any Idea of.
Government condition last year was u !,
and the lowest December condition is A'4, IN
1896. 1t was the gossip among the corn trade
last night that one of the local shorts had
covered through Bartlett-Patten, taking 15O,O0O
bushels, and that the bulge to 62A to soc for
May had been taken advantage OF by other
bears to put out fresh lines
A few local traders who covered early IN the
dav resold later, believing they will be able to
gel their corn in around Coo. December
widened the discount to %@lzc, owing TO the
lieht shipping and export demand Bears
were not at all scared by the large seaboard
clearances 657, 600 bushels, of which $4,000
were from Galveston and $1,000 from New