The Birmingham age-herald., 1909-06-13
JULY WHEAT IS
 NOT 50 BEARISH Another Corner Is Looked for
 Fly the Experts WEATHER IS THE FACTOR Corn Advances During the Day Owing to Cool Wet Weather In the Belt. Oats Are Steady and Pro-
 visions Strong.
WEATHER IS THE FACTOR
BY JOSEPH F. PRlTcHARD.

Chicago. June 12.-(special.) - July wheat is becoming more and more con gested as the days roll by and it is im- possible to fill either buying or selling or ders of small size without changing values materially.
 There will be a "squeeze" in the July future in the northwestern markets and these conditions will be reflected in the Chicago wheat pit.
 Both the Armour Grain company and the BartlettPatten house are large hold CTS of July and when the principals in these houses are asked for an opinion on the market they smile and answer:
 July is a purchase on all recessions. The price is more than likely to pivot on the weather"
 There you are, MT Speculatorl
 Chicago is now feeling the smaller northwestern markets, Winnipeg leading all opponents on this matter of price changes and advances on shorts cov- ering with Minneapolis close second. As in the big May deal which has just been pulled off by James A. Patten and a few of his friends cash wheat will govern conditions. It is only necessary to turn to the cash prices of today to show the direction ofethe speculative wind. No. 1 northern sold on track at Minneapolis at $1.40. The first sales of new winter wheat fin Texas at $1 356I1 .5O at the mills.
 Reports from many other winter wheat sections indicate that the first rush Of the new crop will be taken in and paid for by millers and that farmers will be allowed to name the price for their grain.
 These conditions point to good, stiff prices for time. Minneapolis continues to decrease materially and receipts up there compare unfavorably with those of a year ago.
 Sentiment in wheat was less bearish to- day and there was a decided change in feeling, especially in the July future.
 Wheat closed Ad&c higher today with the July showing most strength. There was little change in the Liverpool mar ket closing prices being lsd up for near by and hd off for the deferred months. Paris unchanged to 1ac higher Antwerp and Berlin were unchanged; Buda Pest, 37so lower; Buenos Ayres, unchanged to 5sc higher. Cable advices report a bet ter outlook in Russia's southwest. Man itobas were firmly held at Liverpool.
 There were advances in corn today of A61sc Wet and cool weather in the corn belt where warmth and sunshine are es- sential to the making of the crop. were the bull helps in corn this morning. Shorts were buyers and there was good sprinkling of orders on investment ac- count. Had not there been large sales on profit taking account the bulge would doubtless have been much sharper. The market for oats was steady, with out much change in prices. Weather con ditions continue favorable and the cash trade was a shade easier with the de- mand slow. Local receipts were 109 cars with 150 cars estimated for Monday.
 Provisions closed strong at further ad- vances over Friday, brought about by a good demand from packing interests. Off, ferings were principally in the way of profit taking by miscellaneous holders and were quite light.
 Leading futures ranged as follows: