New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-06
CORN SCARS IN CHICAGO
Owing to Heat and Droutn II
Gains Nearly s Cents.
OATS AND HAY ALSO JUMP
Wheat Rises in sympathy IN
Wild Market, Following
the Holiday.

| Chicago July 5-There was wl'oi"'
market to-day in corn and oats. Heat aho
drouth sent prices far above any level pre-
viouslv reached this season. Closing ng-
| ures were strong at nearly the top pom
Of the day, with corn up Az 10 o's ce"'
net. oats at an advance Of IA to 80 GEMS
and wheat showing a gain OF "a cents u
| ~ to IA. cents. Provisions varied from
; cents decline to a greater cost Oh -
cents
Alarming messages from the Soutn"e''
started corn on the upward rush I'M"
homa and Texas reported crops purheu ~
death in the sizzling heat Of the last lie"
DAYS. Southern Kansas told OF temper
ature as high as 40 and no promise OF ram
or cooler weather.
Damage news came also from Mlssouii l.
but IT wss fear as TO the prospect OF marin
spreading widely on both sides OF TIC
Mississippi that caused the greatest excite
ment. Trade all day was immense III
volume. so great indeed that profit takinS
on a huge scale appeared to be lost sign'
OF I'm the stampede OF new buying.
one ominous reason was that cash deal
ers reported no offerings OF corn from ''he
country. During the day the September
option ranged from 6il2 to 667s cents ana
at the closing gong was i% cents net
higher at 6Ss. cents.
In the oats crowd dealers were agltaten
10 an extent seldom witnessed. According
TO one leading expert. signs indicated a
crop OF 3OOO00.mo bushels less than last
year. and besides the condition OF nay
was put AZ Ca against s02 for the CORE
spending time twelve months back Inc
condition percentage on oats was esu-
mated at 6T2. compared with SO last
month
For the most part the rise OF he
wheat market resulted from sympathy
with the big advance OF corn ana oats
| An important factor. however. was the
idea that North Dakota no longer hau =
rosy outlook. There were also unfaVorabie
crop reports from Prussia, Southwest hus-
sis and in Siberia. Taxing the Gay % 9os q
and ?is. cents, closing steady at 9las to slia
cents. 4 net gain Of las 10 ~ cents.
Liberal exports sustained hog product
in the face Of a big increase in the world
eupply Of lard. when the pit was cleared
one or two futures exhibited An advance OF
1917 10 Is cents but otherwise the marker
had no substantial change.
Following the lead of Chicago, the grain
markets here were wildly excited ana
prices of corn wheat and oats advanced
sharply. The greatest excitement was in
corn. which Immediately after the opening
Jumped from to cents a bushel above
SATURDAYS closing figures on reports of
excessive heat and drouth in the West
over the threc-day holiday. Wheat ad-
yanced from ! 10 ia cents bushel i'm
sympathy with corn. while oats gained from
/ 10 2t4 cents a buslIel on reports that the
crop was suffering heavily from lack oil
moisture
Prices eascd off about a cent bushel
around noon on cooler weather i'm the
Northwest. but again advanced in the later
trading. Corn closed at a net advance OF
"a 10 Az cents, while wheat closed : 10
rs cents and oats a IA to cents higher
than on Saturday.