The Birmingham age-herald., 1909-01-08
WHEAT DECLINES
 IN EASY MARKET Foreign Advices Indicate Some Betterment In Crops GUILD WAVE OF NO EFFECT Continued Small Movement of Corn Makes Market Strong and Advance
 Is Good-Oats Are Firm.
 Provisions Steady.
GUILD WAVE OF NO EFFECT

Chicago, January 7.-After ehoppy session characterized by considerable dullness, the wheat market here today closed easy with prices shade to ss below the closing quotations of the previous day.
 Corn and oats closed firm and pro- visions steady.
 Foreign news usurped the field oc- cupied in the past two days by the cold wave in this country and in- spired a fair degree of bullishness in the wheat pit. At the opening of the session the eyes of traders were turned to the situation in India and Argentina. Advices from the former country stated that, owing to the drouth in many sec- tions, the wheat yield will be much less than previously estimated, while re- ports from Liverpool claimed that many authorities were beginning to regard a reduction in the exportable surplus of wheat from Argentina as a certainty. These reports caused a firm tone in the market here early in the day. Later in the session the market reacted on an estimate of the weeks shipments of wheat from Argentina, made by a well known crop statistician. This es- innate placed the movement for the week at S00,000 bushels, the largest total ever recorded for the first week of any year. During the day few reports drifted into the pit regarding probable dama ges to the growing crop in this country by the cold wave, but the news was not accompanied by any orders to buy wheat and consequently had little effect. Trade was dull the greater part of the day and prices fluctuated over a A range. The mar ket closed easy with May at $l.0f 12 O 1.07%, and July at 98Ac.
 Clearances of wheat and flour were equal to 5000 bushels. Primary re- ceipts were 272,000 bushels. Minre- apolis. Duluth and Chicago reported re- ceipts of 162 cars.
 The continued unusually small move ment of corn from the farms was the basis of a strong market for that grain, sentiment in the pit being bull ish all day. Some of the largest hand lers of the cash grain claimed that pur- chases thus far this season from the in terior were far behind those of last year at this time and that mills were experiencing difficulty in securing suf- ficient corn to meet the requirements. Shorts were good bidders all day and during the greater part of the day offerings were limited The market closed firm with prices up 1s O Ac to A c with May at 61% e and July at 62c. Local receipts, 151 cars, none contract grade.
 Extreme dullness marked trading in the oats pit, but despite the inactivity a firm tone prevailed throughout the en- tire session. Cash interests were the chief buyers. The principal bullish fac tor was the small movement. The mar ket closed firm with prices k o A c above the previous close. Final quota tions on May were 51% %c and on July, 46 5s O 461sc. Local receipts, 6S cars.
 Trade in provisions were quiet and the market was steady. A 5-cent ad- vance In the price of live hogs in- spired some demand for provisions. At the close prices were 2hc lower to Dc higher.
 Estimated receipts for tomorrow: Wh heat, cars; corn, 99 cars; oats, 57 cars; hogs, 0,000 head.
 Cash quotations ranged as follows: