The Birmingham age-herald., 1909-04-09
WHEAT CONTINUES
 ID FORGE UPWARD Top Prices Fail to Hold Under Realizing Sales AMERICAN CROP IS SHORT Sharp Declines Occur In Corn, Due to Heavy Selling, and the Close Is
 Lower-oats Close Weak.
 Provisions Firm.
AMERICAN CROP IS SHORT

Chicago, April S.-Wheat prices contin-
 ued their record-breaking advance on the board of trade today, the May de- livery soaring to $1.26ss and July to $1 .12s4 @1.127s per bushel. The advance, how ever, was not maintained, the market
 closing irregular with prices Ac lower to | 14c higher comparsds with yesterday S final quotations. Corn and oats closed weak and provisions firm.
 There was no such strain in the wheat delivery today as noted in previous ses- sions, but at times however, the market l displayed considerable activity. Instead of an upward jump of a cent or two on
 initial transactions, there was a calmer feeling today and the market showed some signs of reaction from the ex- treme buoyancy of the past few days. Opening prices were shade to szc be- low the final figures of yesterday, May
 being $1.25 to $1. 25A and July s1.115s to 1.117s.
 Early trading was of an ordinary char
 acter and prices worked trife lower
 owing to quite general selling and ab-
 sence of any substaitial support. The big volume of business was in the July
 delivery which is now regarded by many
 as an old crop month.
 After May had sold off to $1. .24N and
 July to 1.11ss, sentiment suddenly became bullish Within the space of three min
 utes July, had advanced to $1.12zQ1 127s
 and May to s1.26ss 4
 The upturn was partly due to predic-
 tion made by the leading bulls that this
 country will not raise 40o0OO,o0O bushels of winter wheat this season. The buying furore subsided as quickly as 1t had de- veloped and prices soon reacted again on realizing sales.
 Distant deliveries. however, were rela- lively much stronger than the May or July options and showed only slight de- clnes from the extreme high points. The market closed somewhat unsettled, the May and July deliveries being lowered and September and December higher com pared with the previous close Final
 quotations on May were $1.24x. July closed at S1.11%71. .11s4.
 Sharp declines occurred in corn prices
 owing to heavy realizing sales, particu-
 larly of the July delivery. One lead
 ing concern is said to have sold more
 tha> 100000 bushels of that option dur ing the day. The selling was inspired to some extent by the bright outlook for the new crop. May sold between 661kc
 and 67c and July between 65ssc and 86Ac.
 The close was weak with May off 7sc at
 661kc July was down %aAc at 65%c. Oats experienced a further break in prices, chiefly in sympathy with the slump in corn. There was free realizing 1 by longs and more or less selling for | short account Crop news was again of a 1 bearish character The close was weak with prices unchanged to 44c lower, com | pared with the previous close. Final l quotations on May were 54tsc and on July l 47ssc
 1 Provisions developed considerable firm | ness after an easy start. There was an active outside demand in evidence and a local packer was credited with liberal purchases of July lard. A 5-cent advance in live hogs had a strengthening inf1u- ence. Prices at the close were a shade to 10c higher.
 The board of trade will be closed to- morrow.
 a