The Birmingham age-herald., 1909-05-25
TWO CENTS MORE IS GAIN IN WHEAT Market Is Active and BuIliSh
 to the Extreme WESTERN CROP IS SHORT New High Records Are Also Made In Corn and Close Is Strong at Top. Oats and Provisions Close
 Higher.
 
WESTERN CROP IS SHORT

Chicago, May 24.-New high record marks for the season were established for the leading grain on the board of trade today during a session marked by extreme bullishness. Wheat for May de- livery scored gain of nearly ? cents compared with the previous best mark, the top being reached at s1.3f4. Corn for May delivery sold up to 74Hc. and the same delivery of oats touched 62s4c. Pro- visions also made sharp gains.
 All deliveries of wheat scared to new high points as a result of urgent buying based OF warning reports regarding the crop outlook in the southwest. The top price for the more distant deliveries was $119is for July, SLIP for September and s1.097s for December.
 The July option displayed relatively a weaker tone than other months. owing to hasty selling by an influential house. which concern, 1t was said, was turning the profits secured in that way into the September and December deliveries.
 The most potent factor in causing the sharp upturn was an estimate made by a local crop expert on the wheat crop of Kansas and Oklahoma, this authority claiming that the total yield of these two important wheat states would not exceed 60,o0O,0O0 bushels.
 Other reports gave a much more glow ing picture of conditions in Kansas. but the trade was inclined to ignore them. Foreign news was also quite mlxedg Drouth in southern Russia was reported as still menacing the crop, but shipments Of wheat from Russia last week were ex- tremely liberal. and total worlds ship ments were more than had been esti- mated.
 During the last 15 minutes trading there was considerable realizing in the December and September deliveries, and the price of these options declined nearly 1 cent from the high point.
 The market, however, closed strong, with prices showing net gains of 1sso to 21sc compared with the final figures of Saturday, May being at $1.S4as July at $1.1S1s@1. .1Sss, September s1.11A and De- cember $1.o9A.
 New high record marks for the crop were made by all deliveries of corn, sem timent in the pit being extremely bullish throughout the entire day. Several influ- entiai shorts were active bidders, and offerings were comparatively light the greater portion of the session. Local re- ceipts were considerably in excess oi what had been estimated, but the in- creased arrivals appeared to have nc effect on the market
 During the day the May delivery ranged between 7S1kc and 741ac, while July sold between 699sc and 709sc The market closed strong at net gains of 14Q9sc to 1ssc with May at 743sc and July at 7oss97O1zc.
 Trade in oats was active all day, and prices advanced sharply, all deliveries rising to new high levels for the season. The July option was in especially urgent demand by shorts. The strength was based on the suppositlon of a late har- vest The top price for May was reach CT at 62a4c and for July at 55Ac.
 The market closed at net gains of sso to 11sc compared with the previous close, with May at 6214c and July at 554c.
 Provisions were bullishly affected by the bulge in grain and by falling off in hog receipts at western packing centers. Trade, however, was light throughout the day
 At the close prices were LID Dc to 25c