Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-11-20
CHICAGO GRAIN

fenacial seryice to The Herald by j. G. VII
son. member Chicago Board OF Trade Hotei
Alexandria, Los Angeles. l.,
CsfUCAGo. Nov. 1s.-Continued drought In
the winter wheat belt was about the only els
ment in today's news in favor OF the puis'
The congestion in May was the SUSTAINING rae
tor and there was more interest shown IN tne
December which at one time Widened OUT 10 oe
discount hut later, under good buying by the
elevator people nearly lie was taken OH TINS
premium. We have the feeling without naVins
any positive knowledge that elevator interests
have quite generally transferred their heuBeH
TO MAY Further, we believe that some OF TINS
interest have good sized lines or the DecemOer
OPTION long, and while 1t is against business
logic, we should not be surprise 70 see CON
dttion in December somewhat similar to tnat IN
Septen1ber which was forced to lie or &c pre-
MUM over the December. We see nothing to
buy wheat on and we favor selling II on the
bulges whenever it is evident the pit shorts
have been driven to cover, for there is very
little speculative help to the long side of wheat
at this level There was talk OF some re-
action In wheat popular among traders
on the curb last night" says the inter ocean
"a few of the sharp ones who have been bull
ish sold out and looked for half a cent decline
from last nights close before there Is likely 20
be any good on the buying Side Irauers salu
they were playing scaping game but the oull
leaders are standing by their lines and are not
doing any selling SO far as the pit element was
able to discover, unless II is done under cover
and there were no open indications Of 1t yester-
day although traders watched for 1t all day.
The sales by one commission house, which gave
the market a setback from s1.O9 for May, were
attributable to big st. Louis trader who let
90 100000 bushels. This trader has been very
bullish and long both here and in st. Louis.
h says he is a bull on the May wheat situa-
ton but 1t is rot to buy July on dry weather
just now" -
Corn was strong but rather dull Some little
increase in demand from the east and with the
bulk of the local professionals largely ranged
on the bull side. Receipts are slowly increas-
ing. but still not heavy enough in Vofume &c
create any pressure on our market Corn
traders said they were buying December be-
cause they believed that there is large hold
ing, estimated high at 100000 bushels by
one house, but those who are trading in De-
cember say they have no trouble in making set
Elements in the regular way. Taking the corn
that is consigned and with that bought in the
country each day, 1t develops an increasing
marketing, and while it is not heavy, allowance
must be made for the difference between this
year and previous years. Heretofore there has
always been a lot Of old corn to come to mar
Ike; at this season, while this year practically
the entire movement of corn is from the new
crop
The usual small speculative interest was
shown in oats Cash houses have apparently
worked some oats for shipment as they have
been taking off hedges in the pit.
Packing of hogs at western ccnetrs for the
week was more than double that of year
ago. and since November l is also twice as
large as a year ago. Nevertheless, the pro-
vision list today showed material loss at
any time, and 1t occasionally showed some lit
tie gain with fairly good demand for lard.
Barley quotations Were Screenings, 50Q60c,
DC or to choice low grade mailing, Goo; fair to
good, 61q62c; choice. eSc; fancy, shade higher.
Primary Movement
Wheat-Receipts today, 1,124,O0O; shipments,
5s4, 600; last week, receipts $4,000; shipments,
sea 900; last year, $50, 600; shipments, $4,000.
Corn; Receipts today s6s, OOOi shipments, 225'
600; last week. 2S5,0OO shipments. 17oOO0i last
year. $4,000; shipments, $4,000.