The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1909-11-16
Daily Grain Letter.

CHICAGO, Nov. -Wheat-I.iver-
pool closed 3sd to I'd higher. Re-
ceipts here today, 80 cars; year ago.
/ "a. Bradstreets worlds visible sup
ply decreased 100000 bushels,
against a decrease last year of &c.,
900. Kansas City wired, Small lot
dark hard sold to a Carthage, Mo-,
mill at $1.10 at Kansas City, Cash
markets continue strong in all direc-
tions. Weather favorable for the
winter wheat crop in all directions.
The enormous worlds shipments com
Ing largely from competing countries
must ultimately have bearish infiu-
ence, though their influence may not
be felt until late in the spring. De-
cember wheat longs have a good thing
and they seem to realize it. Millers
unable to provide, for their future
\ wants with cash wheat have bought
the December wheat in this market,
which they are holding. Hence the APP
parent congestion in our market. The
pit situation over-shadows all else
temporarily and is very bullish. A
market that advances in the face of a
record breaking worlds shipments OF
100000 bushels, must certainly be
called strong market. We look for
higher prices but hesitate to advise
purchases except on soft spots
Corn-iverpool closed I'D higher.
Receipts here today 2SS cars, year
ago, 272 Cash market unchanged.
There was some commission house
buying of corn at the opening. Knight
McDougall were, buyers of May and 1t
was reported that Armour was a
heavy buyer of corn though brokers
rumored that he bought at least mil
lion bushels. The December corn Is
in strong position and there is a big
short interest. The movement is bad
ly delayed and the grading of the corn
will not make it an easy matter to fill
contracts. The weather is against the
short seller and the hedger. Hedges
must be turned from December to
May or closed. 1t looks like a physi-
cal impossibility to satisfy the exist.
ing short interest by means of de-
livery, this short interest will have to
be materially reduced and this means
higher level. Ultimately the vari-
GUS strongly bearish arguments must
be factor IT. May corn but they have
little bearing on the present situation.
Covering shorts and hedges will force
prices to higher level We believe
December corn is a purchase. May
will follow to some extent.
Oats-Receipts here today 233 cars,
year ago 296. The general position Of
the market is strong one and we be,
lieve the influences Of a strong corn
market will be felt sooner or later.
Receipts are light and the urgent need
of filing corn contracts will in all
probability make them lighter. Ship
pers want cars to move corn. Oats
can wait
Range of Prices.
CHICAGO, H. Nov 1G.-
Open. High. Low Close.
WHEAT Nov. 16. Is.
May !. 106 1861 los 1851 105M
Dec. !. 1882 1887 1914 1917 107h /
July SO 9S $685. 965s 97A
CORN
May e2A e2% e1ss s11s 61M
Dec. 61as 61as 6OA COZ COZ
July e1a e1A eoM eoM s1as
OATS
May 42A 42& AK 41A AZ
Dec. 39a a9A 1914 1914 S91s
July 3saa 1878 1895 ssA ss%
PORK
May 20. 10 20. Is 10. 81 20. 90 20 so
Jan 21.s7 81 81 20. 81 21 90 81 81
LARD
Nov. 1897 1897 10. 20 la. 20 10. 40
May 1877 11.37 11.3O 1872 IL so
Jan. 1900 1900 11.S7 IL. 80 1910
RIBS
May 10. 81 1915 10. s5 l0.45 10. So
Ton "a IN IN cS IN OF