The Birmingham age-herald., 1909-06-15
WHEAT DECLINES
 ON LARGE SALES
Harvest News Indicates a Much
 Better Crop
SHIPMENTS ARE LARGER
Demand for Cash Corn Is Lighter and Larger Receipts Keep Prices From Advancing-oats Close
 Easy, Provisions Strong.

Chicago, June 14-Reports of a more abundant harvest in the southwest than had been predicted earlier in the sea- the board of trade todtS-, resulting in a material decline in p-iasay- st the close the net loss for the day mas 9sc to a4@7bc. Corn, closed fairly steady, oats were easy and provisions strong.
 Harvest news was the chief factor in the wheat market, although bearish crop advices from foreign countries also ex- erted weakening influence With the exception of short-lived bulge early in the day the market was weak throughout the entire session and at times the sell ing pressure, especially on the July de- livery, was heavy. AS result the price of the nearby options declined nearly Pc from the high point of the day, the low point being reached at $1 .15M as against $1.17%, the best mark touched early in the session.
 The temporary firmness at the start was due chiefly to reported sales of liberal quantities of the cash grain. news in general, however, was so overwhelm- tii9Ay OSetAlo llidl lH0 lOSt all its strength in the first quarter of an hour and developed additional weakness as trading progressed. Worlds shipments for the week were much larger than ex- pected, being nearly 100000 bushels in ex- cess of those of the previous week. Of this total amount Russia contributed 100000 bushels. Harvesting was reported as being general in Southern Missouri and advices from Central Illinois claimed that the reapers will begin work in that section next week and that high yields are expected. The flood in the Missouri river and it's branches was reported to have passed the climax and no fear was entertained for crops in the river bot toms
 The market for cash wheat in the southwest was demoralized, prices in Kan sas City being down Sc to 7c A heavy tone prevailed at the close, although prices were about 15c above the low mark. Final quotations on July were at $1 16ss0 1.16A
 An increasingly heavy tone for cash corn here and in the west and south west had a depressing effect on futures, dltuouSn prices aI the close were Ac low CT to Ac higher, compared with Satur- days final figures. Demand for the cash grain here was lighter and indications pointed to considerable increase in re- ceipts. The market was also affected by the action of wheat. Cold, wet weather in the corn belt inspired slight bullsh sentiment early in the day. July sold between 721Ac and 7912c and closed at 72%c.
 Liquidation of July holdings was tn. feature of trading in the oats market. As result of this selling the mar ket in general was weak. Prospects of increased receipts favorable crop re- ports and the break in wheat were the chief bearish factors. The market closed weak with prices unchanged to Ac lower compared with the previous close
 Provisions were strong owing to a fur ther advance of 10c to 15c in the price of live hogs, resulting from continued light receipts. The market was unsettled and declined several times owing to lih- eral sales. The close, however was strong. with prices up 5c to 121b615c.
 Leading futures ranged as follows: