The Birmingham age-herald., 1909-05-07
WHEAT MARKET
 IS STILL BULL|SH Prices Close At the Top Point
 of Season Again LACK OF RAIN IS FACTOR Corn Makes New High Mark of 73 Gents for May and Close Is Strong. Oats Close Strong and Pro
 visions Firm.
LACK OF RAIN IS FACTOR

Chicago, May 6.-Continued absence of rain in Kansas caused bullish sentiment in the wheat market and caused sharp advances in all deliveries, prices at the close showing advances of B to 1%c. Coarse grains also displayed remarkable strength, corn and oats each advancing to new high records for the season. Pro- visions closed firm.
 The wheat market was strong all day and the volume of trade was large. Con siderable excitement prevailed at the start, owing to the anxiety of many of yesterdays short sellers to cover, and best prices were recorded early in the session. There was liberal profit taking at times which resulted in material set-backs but each reaction prompted more vigorous buying and a consequent quick rally. The drouth situation in Kansas was the chief result for the strength although an un- expected advance of Esd to 1%d in the price of wheat at Liverpool also had con siderable effect.
 No rain had been reported in Kansas since the previous session, and the off, cial forecast was for continued dry wealth CT for tonight and Friday. Shorts and commission houses were credited with large purchases. There was also no de- mand for cash wheat, and a number of outside markets reported little inquiry for cash grain. The reported sale of a round lot of new Illinois wheat to be de- livered here July 10 to 25 at a price one cent under to one cent over the July op- ton caused considerable selling late in the session. During the day the May de- livery again touched s1.2914. the high mark for the season, while July sold between $1.161a and s1.171s. The market closed strong with July at $.17@L171s and May at $1.2Ss4.
 Corn for May delivery advanced today to 73o and the July to roc. which are new high marks for the crop. Shorts and, com mission houses were active buyers the greater part of the day, the demand being based largely on exceptionally small re- ceipts, which consisted of only 56 car loads Receiving houses reported that there was little prospect of any material increase in the movement in the near future. inasmuch as farmers are now busy with spring work. The range Tor the day on May delivery was between 7214c and 73c, and on July between 6s74c and roc. The market closed strong with prices up 9so to 11sc compared with yes- terday's finals.-May 73o and July at 697sc. Oats also had sharp rise in prices, the May delivery advancing to 5Ss4c, the high est price on the crop, and 1ssc above the previous close. New crop futures also displayed decided strength. despite the favorable weather for the crop, July ad- vancing to 517sc, the top mark for the season. Cash houses bought May freely all day which induced lively covering by shorts The market closed strong with prices up 1Ac to 1ssc. May being at 5S%c and July at 51A@517sc.
 Provisions were quiet and the market closed moderately firm owing to the strength of coarse grains. Final quota tions were 21hd5o to 100 above yesterdays s closing.