New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-01-12
CHICAGO GRAIN AND PROVISIONS.

chicago Ian 1l-Wheat prices broke sharply on
the local exchange to-day because or general s'IlhS
- ch,.a,, ON a heavy snowfall throughout a
large section OF the winter wheat belt OF t!s cou"
-, At the close prices were &c TO sc below inc
final quotations OF the previous session NoIl o"l'
and provisions closed steady. o..
The slump in wheat occurred I'm the anal haIt
hour of the day although sentiment in tia p!t had
bccn bearish the greater part of inc session Ai'o
,arLct Avnerienced an occa Sional show OF nrnness
IN the first half OF the day as result OF greatly
improved demand here for the cash grain oui lHesa
periods were Of short duration. There was quite
general selling at the start because Of the oeaT'Sh
nature of the early news and Initial quotations were
unchanged to &c lower compared with SATURDAY 5
close Worlds shipments Wcr" larger Jlah mas peeh
generally anticipated. the total movement being
qq2 90 bushels compared with 6oa-Hp bushels the
,,r,cadirp week an official report estimating the
total wheat crop of Russia 10 he 100000 bushels in
excess Of last years yield, and Liverpool reported
much more liberal offerings there OF Argentine
wheat Late in the day weather conditions In this
country became the governing feature The weather
man showed snow had fallen over a large section
~ the winter wheat belt in the last forty-eight
hours and reports from the Southwest claimed that
a heavy snowfall was IN progress to-day. The mar
<et received little support In the final quarter hour
and prices declined rapidly, May selling OF 10
81 o57s and July TO 971sc to 9'i4c. The close was
--eak ot almost the bottom Clearlnces Of wheat
and -four equal 10 $4,000 hushes- The amount
on passage decreased 696 No bushels and the visible
supply in the United states decreased l2S0"D bush
els Primary receipts $4,000 bushels, COM
pared with 10000 bushels the corresponding day a
year ago. Minneapolis, Duluth and Chicago report
and 562 year ago
Light receipts had strengthening influence on
the corn market early in the day but later the
small movement offset by the reports Of in
creased offerings from Iowa and Nebraska, which
caused moderate weakness Demand for cash corn
bv Fasteners was reported extremely dun and
port demand also very quiet. The market
closed steady with prices unchanged TO a shade
lower. compared with the previous close. Final
quotations on May were at 6llec and July $3.50
10 SEC Local receipts were 203 cars with OF con
tract grade
Trade in oats quiet and the market closed
steady. with prices n shade higher TO lsC lower,
compared with Saturdays close. Some hrmness
was manifested early in the day on buying by cash
interests but in the last half the market weakened
with wheat and corn. Final prices on May were at
5lHsc to 5la4c and on July 46llc 10 1880. Local
ceipts We're 1870
Extremely liberal receipts of hogs at Western
packing centres had depressing effect on provi-
sions, sentiment in pit being bearish nearly all day
At the close prices 2iec lower to 2l2c higher.
Estimated receipts for 10 morrow: Wheat, 10
cars; corn. 1888 cars oats, 1SS hogs $1,000 head