The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-08-26
WHEAT ADVANCES
ON GENERAL BUYING
Bullish Sentiment Is Revised
BY Outside Factors
MILLING DEMAND GOOD
Shorts in Corn Rush TO Cover on Frost
Reports and the Close Is Higher.
Oats Advance and Provisions
Close Irregular

Chicago, August 5.-Covering by shorts,
alarmed by strong outside markets, an
upturn in corn values caused wheat
prices to advance today, the close being
from sac to lie higher. Corn went sharply
up, induced by reports of frosts in the
west, and closed 14c TO 112c higher. oats
felt the bullishness of the other pits and
advanced more mildly, finishing ssG%c
up. Provisions values, shifted ground and
finished from &c down TO zoe higher, jan
uary pork making the heaviest gain.
Bullish sentiment in the wheat pit was
revived by outside factors, prominent
among which were an advance in winter
wheat prices in the northwest, generally
firmer foreign markets and an increas-
ing flour output. A sharp advance in
corn prices induced by fears of frost
damage also worked on the bull side and
kept values well toward the top through
out the session. Northwest receipts were
not so small as had been expected and
were largely absorbed by the milling de-
mand
The day was marked by much cover
ing by shorts, who apparently feared a
continuance of the frost damage talk
and prepared for a further advance in
corn prices, which would aid the bulls
In the wheat pit. The cash demand
was moderate and reports from the fields
show ideal harvesting weather. The close
was firm and well toward the high point,
with September 5sdAc to &c up at 99N0D
s9dssc to $3.50, after having touched $500
$3.50. December finished ss@a4c to s4@7sc
higher at 81 O3ss to 81 .03ss@1 .0S% after
having moved between 81 .0Sls and $1.O4
Shorts in the corn pit rushed to cover
early in the day when reports of frost
In western fields were received. Offerings
were light and a sharp advance met the
purchasers crowding to protect their
lines. Later advices were that no dam
age of moment had been done to the
ripening ears, but the nervousness con-
tinued and the forecast of cooler weather
kept traders who need grain on their
mettle.
The advance at times was &c above
yesterdays closing figures, September
touching 623sc, although the high point
was not maintained to the finish. Country
sales were light and there were, attempts
at cancellation. Cash corn was 1c higher
on fair demand and meager offerings.
No. yellow sold at 62A to &C. The close
was strong, with September 1Ac up at
61Ac December closed 1as@11ac to Inc
higher at 59ssq591ac to 591ac.
Oats advanced moderately on strength
borrowed from the corn market, shorts
covering as in the wheat pit. Receipts
fell off slightly, but were still large. The
close was firm all around with September
ssc up at 34s4c. December closed nc high
er at 37sc.
Provisions advanced early, responsive
to the bullish grain market; receded with
large offerings and advanced on strong
late demand, January pork making the
greatest gain and closing 171sc to 20c
up at s1S. 471a to $3.50. The close was
firm Closing figures for the September
products were: Pork, $21 .121h. SC down;
lard, s11.971ic, 71ac up; ribs, 1920 SC up.
Future quotations were as follows: