The Birmingham age-herald., 1909-04-08
BIG SENSATION
 IN WHEAT MARKET Price Goes to S1.25 as Pre-
 dicted by Bull Leader MARKET IS VERY BULLlSH Corn Is Active Owing to Furry In Wheat, But Prices Close Lower for
 the Day-oats Close Weak
 and Provisions Steady.
MARKET IS VERY BULLISH

Chicago, April 7.-Advances of 2lsc to Ss4a31sc occurred in wheat prices here to- day and all deliveries scared to new high record marks for the season The high point for May was reached at H.2o9a. The top for July was SLIP. The market closed strong at almost the top.
 Corn and oats closed rather weak. Pro- visions were steady.
 The prediction of the leading bull In the wheat market made several months ago that the May delivery would easily sell ab SIPS per bushel materialized today when the prices of that option was quoted at $l.25A at the opening and at $l.25% on closing transactions. During the interim the price went as low as ,$l.2Sss, which, however, was more than l cent above the closing figures of the previous session.
 The opening was the most excited wit messed since the deal in May wheat has been in progress and initial quotations showed wide fluctuations. May opened at $124Q1. .2514 and July at S1.10Q1.u.
 Owing to the sensationally bullish news which had accumulated since Monday, commission houses were flooded with buy ing orders at the start, and after the first few minutes the market was hard to fol- low. This demand was based on advances of from 1 to 8 cents at outside markets in this country yesterday and by an ad- vance of 21kd to 35ad at Liverpool. com pared with Mondays figures. Prices eased off a trihe during the first half of the day on profit taking much of which was credited to the leading holders. May sold off to s1235s and July to s1.0S%.
 Following the publication of the gov ernment report on the condition of the crop prices again rallied to about the opening level. The official statistics showed the condition of the crop on April 1 to be S2.2 as against S5.3 on December l. and as compared with S6.6s, the average condition for the past ten years. During the final half of the session the market was very nervous, but trade was not espe- cially active under the first ten minutes. Just before the close, bull leaders again became liberal purchasers and this caused a scramble among shorts resulting in another sharp upturn. As the final gong was sounding the May option jumped from s124s4 to s125s4. where 1t closed. July closed at s1.11%@1.12, after selling a few minutes earlier at SLIP.
 Buoyancy of wheat caused considerable hrmness in the corn market at the start. but prices soon slumped severely on gen. eral selling based on bright prospects for
 large acreage for the new crop During the day the May delivery sold between 66s4c and 6SAc. The market rallied consid- erably from the low point, owing to the late strength of wheat. but closed easy at net losses for the day of 1sc to %d11c. Final quotations on May were at 6Ac and on July 66as@661ec
 Oats also developed considerable weak ness following a firm opening, due to the strength of wheat. Selling by local longs. who were anxious to secure profits, pre- cipitated general selling movement which resulted in declines of 9sc to 1lsc. At the close prices were unchanged to 3sc lower compared with the previous close.
 Provisions were firm at the start in sympathy with the strength of grain, but
 eased off owing to the slump m corn. Some recovery was made late in the ses- sion, the market closing steady, with prices 212c lower to Dc higher than the previous close.
 Cash quotations ranged as follow: