Los Angeles herald., 1909-04-14
CHICAGO GRAIN

Special service to The Herald by Dick Bros.
| & Co.. members Chicago Board OK Trade Brad
| bury building. Los Angeles.
CHICAGO, April 13.--It was great day for
| the wheat trade and as rule the local lead
| ers did not lose their heads or force the mar
ket beyond a reasonable point, even with the
help of the cables of the morning.
May wheat was right up on first trades and
the bull leaders offered all that wanted
at that figure. and that month finally closed
| at s1-27h.
There was sharp action in all the new crop
months early. When the early advance was
| checked the trade generally turned to the profit
taking side of the market.
Selling of long wheat became general Even
when the selling was heaviest and prices broke
back a couple of cents from high point there
was nothing pancly about the trade. Fresh
support appeared to come into the market at
each half cent decline. Action Of market
shows that II Is a good foundation that good
good reaction almost regardless of prices. and
this sort of buying gave July wheat rally
from si.15x to x.16ss and over the last half
hour.
The later months closed about sc to nc low
err than Mondays figures. This is not at all
surprising considering the big volume of profit
taking in the early and late markets.
Liverpool at SIC to 3%c over previous close
was fully up to the advance recorded here at
the same time.
The strongest feature in the foreign situation
was the great advance in spot wheat prices,
which ranged all the way from 4hc to 9hc
from Thursday. The active situation for sup
plies abroad is to large extent INDEPENDENT
Of the strength here 1t shows that Europe
has troubles of its own in looking for bread
stuffs for the next three months.
Bradstreets decrease of 1000 is an i'm
portant bull factor. The market is an unset
tied one for the present, but on good recess
sions buying side Of the new crop months is
likely to prove popular and profitable.
xrnn nat Ina in FkrfAn
at close. Prices had some upturn from the
Mondays close on first trades helped by wheat
and higher cables. When wheat prices dropped
back about &c per bushel corn prices weakened
from which there some recovery on last
trades Receipts were smaller than estimated
and for tomorrow the estimate is exceedingly
small at So cars.
Cash houses bought some May on the dip
Shipping sales were $1,000 bushels. Bright
weather and talk of increased acreage helps
the bears, but the west is still bullish on corn,
and cash prices suggest that futures are on a
safe level.
are light and much new crop is in the ground
and for this reason there will be good buying
of these late months on any breaks for the
present.
ion trade both early and late. Higher prices
were made early. in sympathy with lighter
run OF hogs to western markets.
Flour steady: No. rye 79@Soc; feed or mix
ing barley, 6lhW62e; fair TO cholce maitins,
eS0pe5c; No. l southwestern fiaxseed. s1.56A ;
No. northwestern, $1.66A; timothy seed, $50
$3.50; clover. $780, mess pork. per bbl., slSO5
D1s.1o; lard. per 100 lbs 5000; short ribs,
Sides loose IS. sodD9.3O; short clear Sides boxed.
s9.621z09.75.
Total clearances of wheat and -four were
equal to $1,000 Primary receipts were ga, 600
Bushels. compared with 229 900 bushels the cor
responding day year ago. The worlds wish
Bile supply. as shown by Bradstrets decreased
g. 1852 900 bushels Estimated receipts for tomor-
row: Wheat. cars; corn. 3S cars; oats. 81
cars; hogs, Is 900 head.