The Birmingham age-herald., 1909-04-20
GENERAL SELLING IN WHEAT MARKET Market Closes At Loss of
 Nearly Two Cents BULLS WEAK IN SUPPORT Corn Again Makes New Records, But Before the Close Prices Drift Down
 ward-oats and Provisions
 Close Steady.
BULLS WEAK IN SUPPORT

Chicago, April 19-wheat broke from
 14c to 2ssc today, owing to general sell
 ing based to some extent to unexpectedly
 large exports last week from Russia The
 market closed at almost the bottom at
 net losses of 1kc to 21sc. The corn mar
 ket was exceptionally strong at times
 and both the May and July delivery ad-
 vanced to new high records for the sea-
 son, 71Ac being the top price reached
 for the May option. Oats and provisions
 closed steady.
 Bullish enthusiasm in the wheat mar
 ket was on the wane today and on sev-
 eral occasions it required combined sup
 port by bull leaders to check the declin-
 ing tendency of prices brought by a gen.
 eral selling move. The change in senti-
 ment was due in some degree to the
 heavy movement of wheat from Russia,
 total exports from that country last week
 being 2o56.o0o bushels, compared with
 only a6Ooo bushels the corresponding
 time year ago and to more favorable
 reports regarding the fall sown crop in
 this country. The market opened weak
 at declines of ssc to 1k@11lo following a
 break of hQ1hd at Liverpool, but re-
 covered part of the loss early in the
 day owing to good demand by commits sion houses for the September and De- cember deliveries. After rallying to with
 in Ao of Saturdays close for July the
 market broke sharply again on renewed selling pressure, July declining from s11SA to $116. Support by bull leaders caused a mild recovery but a decidedly
 weak tone again developed late in the session and all deliveries sold off to new low points for the day, July dropping
 back to $1157s. The close was weak
 with July at s1.16A%11sss. May closed at $1.27 and September at SLOT.
 Substantial advances in corn prices were scored during the early trading, but owing to the slump in wheat, large part of the gain was subsequently, lost The May delivery advanced to 71llc and the July to esc, which is the highest price recorded so far this season for those options. The September delivery also rose to a new high point at 6S1sc. Light receipts, wet weather over a. great CT part of the corn belt, which will de- lay planting, and a decrease of 115s, 900 bushels in the visible supply were tho bull factors. During the day May sold | between 697s@70c to 71Ao The market closed firm at net gains of 1so to A6D%c I with may at 70h@70asc
 | Trade in oats was on a large scale, l investment buying by out of town sources 1 for the distant deliveries being a fea- l ture. Southwestern houses were free sell i CTS of the September option because of | more favorable prospects for the new | crop. With the exception of some advices | from Illinois and Indiana crop reports l today were generally more optimistic l The market displayed considerable strength early in the day, but eased off | in sympathy with wheat and closed about l steady with prices shade lower to A9ssc l higher compared with Saturdays close Provisions were firm during the first l half of the day. owing to a. 5-cent ad- | vance in live hogs, but weakened in | the final hour, closing barely steady with ] prices unchanged to 21ac lower.
 Cash qoutations ranged as follows: