New-York tribune., 1909-05-08
CHICAGO GRAIN AND PROVISIONS.

Chicago May Wheat traders. who had grown
accustomed to the pyrotechnics of the May and
July options treated to novelty to-day when
the deferred futures. September and December, ad-
vanced respectively 32c and 4sc following the pub
cation Of the bullish government crop report, the
market closing strong at net gains Of l4c to 3SSc.
compared with Yesterdays final quotations Corn
closed easy oats steady and provisions firm
1t day of wild and irregular price huctua-
tions in the wheat pit with trading also erratic,
business during the first half of the session being
rather limited, While extreme ACTIVITY marked the
final hour. one notable feature which stood out
prominently above all others the relative
strength OF the distant futures, particularly the
December option, which closed at a net gain for
the day Of 33ac while the May and July deliveries
showed gains Of only hc each Trading to-day
centred around the government crop report and. as
1t not made public until noon Chicago time)
the period prior that hour lacking in feat
ures, with the exception Of a severe slump IN the
price of the July delivery just before the appear
anCe Of the government statistics The market
opened weak. with prices a shade higher TO 1c
lower compared with the previous close, the heavl
ness at the start being chiefly due TO unex-
peCted decline of Esd TO 1isd at Liverpool Prices
however. quickly advanced on an active demand
| for the deferred futures. based mainly the
tinued absence Of rain in Kansas and the Off
cial forecast Of small likelihood for showers in that
state to-day tomorrow. Toward the middle of
the day the July delivery sumped violently, owing
to general selling. much of which was Of a stop
loss character, prompted TO large extent by a g
break III corn July dropped TO 81 la12. after nav
ing sold 81 11ls earlier the day. The de-
ferred futures declined more than PC from the pre-
vous high point of the session. selling of 10 81 o.
and 81 03i2 for September and December, respect
lively. Following the publication Of the government
report, July advanced again TO 81 17&.. September
81 OS9s and December 81 o7ss According the
official statistics, the condition Of winter wheat
during April appreciated less than per cent, which
a much smaller improvement than had been
anticipated The report also showed a reduction
of ~ per of the total seeded last fall
Sentiment continued extremely hullish the remain
OF the day. and the market closed strong, with
July at 81 l74 20 81 Ils, September at 81 0S54 10
81 OSas and December at 81 U7l2. During the day
May sold between 81 27ss and 81 %, and closed at
the top.
Corn advanced TO new high record marks for the
season early in the day. May selling up to 7324c
and July to 70i2c The upturn brought out liberal
realizing sales which resulted in sharp reaction.
May dropping 7lA4c and July to 6S2ac. The early
strength due TO continued light receipts Fol
lowing the late bulge IN wheat the market regained
much Of the lost ground and closed about steady,
although prices &c TO sac to sc below yester
days final figures May being at I2Ac and July
at 69izc.
oats also scored new high records early in the
session when May sold 59c and July 52isc.
for the fresh upturn The market weakened
in sympathy with the break I'm other grain. but raj
lied again late in the day and closed steady with
prices unchanged 10 14c lower compared with the
previous close The final figures May at
5S1zc and July 5l&c to 5l5ac