The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1909-06-29
EXPORT WHEAT
SALES EXPOSED
SEND THE BEARS BACK TO
COVER.
Winter Crop Promises 20 BE Excel
Ient-Unsteady Week in the
Corn Market.
PROVISION VALUES ARE WEAK

Chicago. June 29.-Wheat values
we're chiefly influenced by harvest
news early this week, but during the
latter part export news was the chief
feature. The harvest news had been
most bearish in tone and prices
slumped accordingly. but develop
ments in the export trade more than
Offset the bears news, and great
strength was manifested in the trade
Exporters had previously been try
ing 10 keep the accomplishments
quiet, but II finally developed that
enormous sales had been made to
European buyers. This is the usual
plan OF the exporters. as the news OF
export business usually exc.tes the
speculative market and temporarily
spoils further negotiations for the
sale Of cash wheat abroad. The news
of the big sales leaked out on Fri
day. however. and the market i'm
mediately turned strong. regaining
the decline resulting from the favor
able crop news. July gained 2 &c
for the week; September, in which
most OF the export business was
done gained 4hc; December was
.3hc higher. and May for 1910 de-
livery gained Ac.
Export sales ranging anywhere
from 1000. 900 TO 100000 bushels
of wheat and 15, 900 barrels Of flour
were made to Europe Friday on the
firm offers submitted TO foreign buy
ers the night before. IL developed
also that export sales OF the preced-
ing day had aggregated over 1000
900 bushels The business was so
large that II was impossible to con-
ceai IL longer. as American exporters
in general we're in the speculative
and ocean freight markets on large
scale and making the necessary ar
rangements to fulhn their contracts
Advance In Ocean Freight.
Advances ranging from &c ia
1 Ikc per bushel In ocean freights on
wheat were made at the various At
lantic ports and at Montreal. The
bulk of the engagements we're fol-
September delivery, most of them FOL
the first half of the month. Some
little chartering was also done fol
the last half of August. Foreign
buyers we're paying the best prem
inms for the earliest date of ship
ment. II transpires that export con
Germs had been doing a good bust
ness in new-crop wheat Cor a weef
or more. Most OF their sales abroad
we're on the basis OF September de
livery prices hero. the foreign buyei
avoiding the July delivery because
of It's excessive premium. Never
theless, the export engagements a
New York included 100000 bushels
for July shipment to Antwerp. Thu
was presumably to make out some o.
the Chicago hard winter or the Mar,
land red winter wheat. Patten de
MED that his house had engaged an!
freight room for hard winter whea
last week TO the continent.
Rig Yield OF Winter Wheat
Crop advices early last week tol'
of excellent yields of winter whea
lin all sections where cutting o
lthreshing has been done. Even Okla
bona. from which reports early u
the season we're disappointing. wa
reported around an average yield
Harvest returns in Illinois. Missouri
and Indiana we're excellent. Their
we're comparatively few reports i
from Kansas, but most of them wer
favorable. The Kansas crop report
indicating a yield not far from So
600 200 bushels. put a damper o.
the pessimistic estimates that som