The sun., 1908-05-10
TIE GRAIN MARKETS.
4 Day Of Realizing Prizes React--Weather
Better-Wheat Crop News Less FaVor'
able-Aotiye Export Demand for wheat.

BetteF-Wheat Crop News Les FaNefs
abIe-ActiVe Export Demand for Wheat
Wheat closed easier, owing chiefly to reallE-
ing. Many regarded the reaction - only
natural setback in an advancing market
Certainly the cash position is as strong az ever
and In the opinion OF close students OF the
situation Il points to considerably higher
prices before the new winter wheat crop s
harvested
Yesterday, however, Il was day ofreallzlng
on both sides OF the water, and the cables we're
disappointing, though the foreign markets
showed not little hrInness despite the llqul-
datlon Liverpool rose equal to y to ne
Paris was &c, higher to &c. lower. Berlin
unchanged to &c. higher and Budapest nn-
changed to Ikc lower,
Moreover, there was not little selling for
turn on the short side. Pit traders hammered
and uncovered stop loss orders. The weather
was more favorable. II Ia the belief among
many that the crop as whole is making
excellent progress despite some draw backs
here and there. ne nlnneapoIs MeIfitM tlit,.
completed in Minnesota and South Dakota
and though the work is not 30 far advanced
In North Dakota the indications point 70 an
increased area OF bread wheat In the three
States.
AZ Chicago 10000 bush, we're delivered on
May contracts. Armour brokers sold freely
Lake was good seller OF September Law
renee. BarTell and Love sold. ld..,.-,-, 49,.
TN the decline scattered commission house
buying was reported. The generality OF the
trade, however, were not disposed TO Ouy very
freely. not few believing that turther re-
action was due after the recent sharp ad-
vance.
Yet at no time was the selling for short ac-
count aggressive and before the close there
was sufficient buying Tor both sides OF the
htHINH nj al
The strong cash situation . a stumbling block
In the path of the bears, They cannot get
over, under or around that ..,--.
Be sides, the crop news from the Southwest
was less favorable than al any time recently
Damage from Hessian Ny IS said 70 be becom-
ing serious. Reports to that ehect were
numerous and from various sources. SOME
are predicting sensational damage reports
from Kansas within the next ten days. IN
settled weather was predicted for most sec
tions, with iroSt In parts Oi the Northwest.
The receipts continued light, the stock at
Minneapolis de creased 1000 bush. Tor one
day, the export demand was active and the
weekly statistics made builish elhiblt.
The worlds shipments we're 0,OOoOO bush,
against q. .hI, ,OUO last week and O,1S0OOO last
year. The amount on passage decreased
100 0OO bush. smaller than at this time last
year. whereas recently II was much larger
thin then,
The course Of prices in the near future,
II is believed, will be dominated by the de-
velopments In the cash situation the progress
Of the winter wheat crop and the action Of
the foreign markets as well as the attitude
Of large Chicago interests These are the
things that everybody is watching
Logan Bryan advise BUYERS to take
hold on the first good reaction. Rubins
Bros. think prices will work lightr In, the near
future Pringle, hitch A Rankin think the
market is ultimately going TO a Ligher level
ior July and September.
The CORN SITUATION.
Corn, too. felt the Effects Of realizing.
The weather, too. was ritter, there WAS no
aggressive support and Iil traders sold for
the decline with more freedom, Commission
houses threw over large lots Of July, Cash
interests sold september. May bulls are
believed to be selling the distant months
steadily.
he decline was not ing great. Lowever.
Bears have, been roughly handled OF late
and as q rule they are disnOsed to keen close
to shore. Unsettled weather Was indicated
and bulls expect TO see a continuation OF
small receipts and decreasing stocks
An active cash demand was reported al the
West at strong prices. Kansas (ity reported
that 20 cents was being freely paid Tor cash
corn bartlett Frazier Darlington we're
credited with large sales OF July Rosen-
baum sold. kdston and Tracy were good
buyers.
Liverpool advanced Nc. The world $ shin
ments we're l,iSJ.OOO bush, against 100000
last week and ,. 7Os. .O0n last year. I he amount
on passage increased / ,0JO,OOO bush, making
the total o,Oi5.OOO, against oeOOo a year
ago
THE OATS PFATTRFs.
Oats gave way with other cereals The
favorable weather caused an increase IN the
offerings ash interests sold old May
ountry houses sold July. Chicago reported
a brisk cash demand at firm prices Receipts
were moderate and few look for any material
increase in the movement. Supplies at last
ern points are said to be practically exhausted.
THE SPOT MAEKETs.
Wheat active. Sales an, ,OOO bush, mainly
for export here and at the Outports. chiefly
durum IRON Duluth. No. = red, lI,c, over
May f. o. b. aAoat for export; No. northern |
Duluth, SllOi,: No. ? hard winter, tll61i. |
Futures closed &c lower to nc. Ligher. |
Estimated sales, 900 OOO bush
Corn dull Sales, 5000 bush No. mixed |
In elevator, s2I,c, No. q .. b.. 75c, Futures |
closed &c. lower to &c. higher. Estimated |
oats dull. sales. 5000 bush. Natural
white, 20 to 81 lbs, $50 "a sOc. white clipped, |
32 to 81 lbs, 60d6ihc; mixed, 20 to 80 lbs, |
rive dull. No. Western. SOc. I. o. b.
New York.
Futurcs were a. foIloys,