The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1911-05-18
GRAIN AND PROVISIONS.


cling 10 the hope that millers will soon
become active buyers OF wheat because
Hour stocks are low, but the -four trade
Is as duh as ever and small sales are
reported at Minneapolis. II IL report
ed that big Chicago elevator company
is short 100000 bu of May wheat and
the outcome OF the deal will depend on
their ability TO deliver the goods
The closing strength here on Wed
nesday gave Liverpool a small upturn
on Thursday morning. but selling was
liberal and a decline followed. The
weakness came from estimates OF lnrg-
er Argentine reports. and II was ngur-
ed that worlds exports OF wheat for
the week would be quite heavy. Rus
STA had rains and better crop pros
poets. At the decline the tone became
steady owing 10 diminishing world =
supplies
Hot weather is the bull pointer at
present that Is holding the attention OF
the trade. IL has been very hot In the
over the Canadian line. and IL IL the
general belief that wheat Is in no con-
dttion to withstand a siege OF hot
winds. The crop has little enough
moisture under the most favorable con-
ditions and hot winds will quickly put
IL TO the bad. The dry section ex-
tends from. Iowa TO Ohio. but in gem
eral way the wheat outlook Is excel
lent in both winter and spring Sec
tons
Chicago is receiving a great deal Of
wheat and stocks there are piling up,
for there IS no demand for the grain.
IL Is useful at present for nothing but
filling short sales and this, with the
good crop prospects, creates a feeling
OF bearishness. The market, however.
Is in such nervous state that IL Is
dangerous TO get short on a depression
or long on bulge.
Wheat was weak early in the day.
but recovered later Cash red closed
at an advance OF &c. July and Sept
at a loss OF nc and cash red unchang-
ed. Corn and OATS, were steady and
Oct. beans advanced &c
Receipts In the Detroit market on
Thursday included 1860 bbls OF Hour. l
car OF wheat, ! OF corn. OF oats and
l OF rye Withdrawals were 400 bbls
corn and 1884 bu OF oats. Stocks are
205,064 bu of wheat. 254.99s bu OF corn,
S.12s bu of oats and 1913 bu OF rye
Wheat receipts Thursday: Duluth.
"a cars. against 13 a year ago; Ninne-
apoIis, 15s cars. against 1871; Winnipeg.
lol. against 50; st. Louis, IL cars,
against 80.
Stocks OF wheat at Winnipeg de-
The Bengal wheat yield is placed at
19.l36.o00 Blu. against 20.0l5.000 bu 4
year ago. and the Punjarab yield Is
12S. 000. 900. which Is about the average.
Argentine weather is favorable and
the wheat acreage is likely 10 exceed
that OF last year, which was l5,i44.o0o
acres
Exports of wheat and fiour Thursday
were $4,000 blu.
Primary wheat receipts were i65, 900
blu. against 23s.000 bu a year ago
Wheat in Liverpool closed y u y d
higher
Wheat quotations: Cash No. red.
92c bid: May opened without change
at 9liSc. declined to sic and closed at
s2c: July opened at 80 NC, dropped 10
SSl4c, and advanced to SIC; Sept open
ed at see, declined to ssc. and advanced
to sskc; No. l white. 90c. Coarse grain
quotations: Corn. cash No. 3. 551sc; No.
yellow, cars at 57t9c; No. , yellow.
S6'Hc oats: STANDARD. l car at Sse;
May, s2.04: Oct. 1877 bid Cloverseed;
Prime spot, So Oct, s7.65: prime al
sike. 1915. Timothyseed: Prime spot.
$3.50.