New-York tribune., 1909-04-24
CHICAGO GRAIN AND PROVISIONS.

! Chicago. April 2s.-Demoralizaticn again
| IN evidence n tbs grain pit On tie Board OF
Trade for q brief period to-day. during which
,sr,e wheat for july delivery sold off 10 81 0S 7s
which was 81 below the low point touched dur
ing yesterdays sensational slump At the same
time for May delivery broke more than &C
from yesterdays high point All of the loss IN
wheat and large share Of that in corn was
sUbseoueutly regained, wheat closing firm at net
gains Of a shade TO / nc compared with the pre-
vious close. Germ closed at net losses Of sc TO
12sc 10 l5c. Oats and provisions closed easy.
The fresh break in wheat prices occurred snort
y after the opening, which was very iIreeniaf'
with prices 1sc lower to 51@c higher The hd-
vance at the start due chiefly to sharp
rally Liverpool following consloeraDIe weak
moss there earlier In the day Taking the ao-
vance in the English market as an indication OF
a rally here. shorts plunged in to cover on nrSl
trades and prices given an upturn July
onered AT 81 lGsL 10 81 i and MAY at II 70 10
81 o4I5 Three or four Of the leading comTn1s-
sion houses which the principal sellers yes
1crda- then renewed their selling operations anu
the market soon became extremely weak Early
b1vers switched TO the selling SIDE. and as prices
declined fresh stop-loss orders were fedCiIsu'
which accelerated the downward movement Be
fore the decline checked July had SOLO on 10
81 oS5., May IN 81 c0& and september 10 % VI %.
while december dropped below the dollar mark
10 q9sIc Covering by shorts then caused an
other rally. and during the remainder OF the Gay
a much steadier feeling was manifested Delay
20 seeding in the Northwest, due 10 colo "edthei'
was the chief buIlish influence of the day News
in general was favorable TO the bears argentine
shipments were the estimate at zS"o'V"
b,,s,eIs for the week and Australia shipped more
than soc. 900 bushels. Most OF The crop reports
,,-l,ic, came rr were less bullish- the plant IN
most states showing decided Improvement com
rarnS with week ago. The Kansas report
makes the condition of the crop IN that state %.
as against SIS, the governments April figure and
a.. acreage now left 6.092000 acres. against
s aaA 600 acres seeded last fall The market closed
er,7 with July at 81 lG'4. MAY closed at 81 q Is
and September ct 81 o. a -,
corn prices broke from Izc TO 3izc early IN the
day as result of the unloading Of large lines OF
80 Nav delivery which several of the leading
F,,a a
&c last few weeks. Initial quotations on May
,,-.ra -0aL G 20 70E.c. and July 6Shc 10 bSetc
r2efo-e the end of the first half hour May had
5ropped 10 678sc and July TO 66}4c Ihe seIilnS
~ fnspired 10 some extent by liberal shipments
of corn from Argentina. the weeks movement
tsing rlaced at 1877 600 bushels. four times
as much as during the previous week On the
braak shorts and cash houses became active ouE-
- n,d nrices rallied materially. although the
osr1ier loss was not regained At the close prices
Ivere stjl &c 10 &c to ll2c below the hnai
ouotations Of the previous day, May being at
69lkc and July at 81 1.c
oats followed the trend OF the corn Harket-
prices showed a slight gain at the outset. but
With the break In decline OF nearly lc oc-
a,,r-ad The weakness Of wheat and corn caused
,nar,,, holders TO lose confidence in the market
TdasI weather conditions for seeding and Tor
forcing the growth Of the new crop also exerted
= darTagsiug influence. During the last half of
,t,e da, a nrmer tone prevailed and at the close
nricee we're only shade 10 &c 10 IS below yes
terday's closing quotations
Provisions were firm at the start because Of a
.,-onp market for live hogs. but weakened along
viii grain and although some recovery was
sde during the last part Of the day all of the
loss vas regained. AT the close prices we're Il
shade higher to 7i.c lower