The Birmingham age-herald., 1911-11-16
WARM WEATHER
 NEEDED FOR CROP
The Outlook for Argentine Wheat Harvest Much
 Less Promising

Chicago, November 15.-Rains threaten ing to spoil the Argentine harvest formed the main force of strength today in the market for wheat The close ran from the same as last night to 3s@15c advance. Corn finished ssc to 1sQ9sc down; oats off l4c to ssq1Ac. and provisions 71kc to 221kc gain.
 Direct cables to Chicago houses reported the crop outlook for wheat in the Argen- tine as much less promising, warm dry weather being needed instead of the damp, humid variety which had been prevailing. The dispatches attracted greater attention on account of Buenos Ayres prices having risen 19sc to Pc from last nights close. Besides Liverpool reported that offerings from South America were smaller and that British trade was nervous over the talk of rain. On the other hand, although southwestern receipts in the United States were light the two principal spring wheat terminals had more incoming wheat than at all the primary centers a year ago. Moreover, cash demand here was tame. Announcement of a renewal of the recent much talked of 5,O0O,OOO bushels bid brought out only comments that the trade would like to see some important reduc- tion in the big local stock and hear less about offers for almost incredible amounts. The fact that the bids were refused did not prevent the future mar ket from having an easy tone at the close. Between the opening and the wind up May ranged from 997sc to $1.O01s, with last sales 1sc net higher at 997sc@$1.
 Considerable interest was taken in a trade bulletin statement here that the exportable surplus of wheat from Novem- Der l, 1911, to July 1, 1912 shows a total of 96,OO0,000 bushels, an amount 5S, GOO GOO bushels less than last year at this time. The bulletin says:
 Considerable interest was taken in a trade bulletin statement here that the exportable surplus of wheat from No- vember l, 1911, to July 1, 1912, shows a total of 96,00000 bushels, an amount 5S,000,- GOO bushels less than last year at tllis time. The bulletin says:
 Estimating the wheat crop of the United States at 655 000.0Oo bushels and aI- lowing J6,000,000 bushels for supplies ir all positions on July l, 1911, the aggregate supplies for the 12 months would be ap- proximagely 751,000,000 bushels. Allowing 535,0t00,o00 for consumption, about s2,0O0, 600 bushels for seeding during the harvest year and 3S,000000 bushels exported to date accounts for 655,00oO00 bushels and thel e would remain for export during the cur rent eight months and for supplies on hand July l, 1912 about 96, 000,OO0 bushels.
 The comparison of 53,OoO.O0 bushels less is with corresponding estimate of 149,- 00o,o00 bushels, which year ago was made by the same authority.
 Several large commission houses sold corn on all the hard spots today. Accord ingly, that cereal ruled as heavy as wheat was strong. Country offerings were reported as 1oosening up. May Aue- tuated from 641ac to 65Ac, closing weak lie down at 6f1ac.
 Oats declined on selling by local traders including some from the corn pit High and low levels touched were: May, 5O3sc and 497sc, with the close 497sc, a net loss of A@2sc.
 Stock yard houses were active buyers of provisions. Hog cholera reports had a good deal of influence. In the end pork was 20a221sc dearer and other products advanced 219c to 121sc.
 Future quotations were as follows