The Detroit times., 1911-07-20
GRAIN AND PROVISIONS.

about all season has been reached ana
wheat is on an export basis. The sale
OF { million bushels to foreigners has
been confirmed and ocean room Is In
brisk demand. This puts wheat On a
firm foundation unless foreign export
ers cut the price lower. and this APP
pears improbable, as Argentina has
dry weather and the Russian crop
promise has been greatly reduced.
Bears still talk lower prices, but the
bull element feel satisfied that there
will not be much Of decline from
this level.
There is a great deal OF power under
the wheat market, whicn Is shown by
the way II has taken the recent enor-
nous receipts. The run or winter
wheat has been earlier and heavier
than ever before and hedging sales
have been unusually heavy. but the
decline under all these offerings has
been comparatively small Part OF the
bullish value OF the export sales was
lost because OF the decline in coarse
grains and liquidation for concerns in
the northwest that are going out or
business. Any let-up In the winter
wheat movement or bad news from the
spring wheat states would now bring
a prompt advance, for the face that an
export level has been reached assures
the bulls against any heavy decline.
The buying OF wheat appears SAFER
now than at any previous time this
season.
Bears stTl talk of the depressing ef-
feet the Canadian crop Will have In
case OF reciprocity. but American
wheat has always met the competition
OF the Canadian crop at Liverpool In
the shape Of both wheat and nour.
The northwest had lots of bullish
news on Thursday, reducing the Min
mate Of 10000. 900 bu to $1,000, 900 bu
Minneapolis was strong The Detroit
market closed with wheat I've higher
Corn was unchanged. cash oats lost
Phillips, in Chicago. had report
that was bullish on corn and oats and
bearish on wheat
Wheat quotations: Cash md July.
No. . red. s4hc asked: on track. ] car
at sshc. and advanced to sT%c; Dec.
opened at s0Kc and advanced 10 s1% g;
No. 1 white, s3c asked. Coarse grain
quotations.: Corn. cash No: 3, 67hc;
Oats: standard. I cars at 4stlc: Aug.
43c asked; Sept, 43kc: No. white,
46c Rye. Cash No. 1, TIE Beans:
Immediate. prompt and July shipment,
fa2o; Aug. sSis; Oct. ssos -,r NOV; :n ~;
ss75: Oct and aMrch. $3.50; prime spot
and Aug alsiSe. -
Receipts in the Detroit market on
Thursday included 500 bo-s or hour.
cars OF wheat 1 OF corn and OF oats
Withdrawals were 500 bbls OF Hour.
40 600 bu OF wheat and s.445 bu OF corn.
Stocks are se.222 bu of wheat. 1877
bu OF corn. 5.534 bu OF oats and 4,sss
bu Of rye.
Wheat receipts Thursday: Duluth,
2s cars against 81 cars year ego:
las cars. against 100; Win
nipeg. 124 cars. against 15e: St Louis.
1 so 600 bu, against 10000 bu.
Exports OF wheat and flour THURSDAY
IJverpooi wheat closed unchanged TO
I'd lower and corn I'D lower. -
Estimated Argentine exports tnis
week 100000 bu.
primary wheat receipts were 1890
600 bu. against $4,000 bu year ago
TOLEDO GRAIN AND PROOUCE.
TOLEDO. July 2o.-wheat: Cash
and July. s6hc: Sept, sshc; Dec;
i%c: May. sshc Corn: cash and
s5Hc acts: Cash and July. 43hc;
sept 4sHc; Dec. 45Ac: May. 49,
rye: Cash. nc. cloverseed: Cash.
SO 20; oct, Dec. and March. 1910. Al
sike: Prime and Aug. ts. Tim othy-
seed: Aug. $40: Sept $6.25. Butter
eggs and hay unchanged
CHICAGO GRAIN OPENING.
CHICAGO. July 20--Grain opeu1ng-
Wheat: July and Sept. up &c Corn:
July UP sc; Sept. up Ne Oats: July.
no trading; Sept down NC. Provisions
Ncon-wheat: July and Sept. up &c
Corn: July up nc; Sept. up &c. acts:
J July up &c; Sept up &c.
Close-wheat: July up INC; sept
up lie. Corn: July up lac; Sept up
Ike acts. July UP NC; Sept. up &c.
Provisions: Higher.