The Birmingham age-herald., 1912-07-06
GRAIN PRICES GO
 TUMbL|NG DOWN
Nearly Worldwide Im- provement in Crops.
 Wheat Lower

Chicago. July 5-Grain prices went smashing downward today because of a nearly world wide improvement in crops, wheat closed 11sc to 2AGz>sc lower, corn off 2lsc to 2l4a2ssc. and oats at a decline of 9s@sic to 1ssc. In provisions there was slant from unchanged figures to 10Q 12isc down.
 In wheat the whole tide of trade swept against the bulls. Since the previous close the entire northwest had received rain in quantity that removed all doubt as to fiattering prospect in that direc- ton. South Dakota the dryest state of any, was soaked four inches. On the other hand St. Louis and Kansas City sent word of heavy marketing Of new wheat with harvest conditions ideal. At the same time cable news was on the side of sellers, weather conditions having changed most favorably over the United Kingdom, France and portions of Russia. A banner day for the bears was the in- evitable result, wheat prices being forced off sharply under pressure from discour- aged holders and belligerent short sellers. Related longs found themselves compelled to unload on fast sinking market, and encountered the worst break of the ses- sion in the last b minutes.
 July wheat held up noticeably better than deferred deliveries. The reason was that the ownership of the wheat now here has been centralized and there is said to be little elevator room available for other holdings Between the opening and the close the September option, in which most of the selling took place, swung from Sl 01 to $1 .021h. with the final tone demoralized at the first named figures, a loss of 21aq 2ssc net.
 Corn seemed to be recovering so rapidly from the effect of late planting and other drawbacks that owners of futures not only let go, but distributors were frightened by the chances of still further declines. The July option, as in wheat was not hampered so freely as other deliveries, and showed more power to rally. Septem- Der fluctuated from 67Ac to 69Ac, closing weak 21hG2ssc net lower at 67hc. No. .2 yellow as quoted at 72A@7219c.
 A belief that the largest crop ever raised in this country had become assured made oats at times almost as active and de- pressed as wheat and corn. Eastern buy CTS upset by the decline, kept out of the market. Outside limits touched for Sep tember proved to be 9sAc and 3711c, with the Close 35Ac, fall of 1ssc compared with 4S hours previous.
 Constant support from packers sustained provisions despite grain weakness. A lighter run of hogs helped so that the av-  craze setback for pork, lard and bacon did not amount to more than 5c.
 Flour-Easy; best hard- 30.
 Rye-No. ?, 75c.
 Barley-Feed or mixing, 5SQ70c; fair to choice maltng, 9Sc@si 05.
 Timothy seed, S6n10.
 Clover seed, si4a1S.
 Mess pork, 37lkd1S .5o
 Lard-ln tierces, s10,70
 Short Ribs-Loose, s10S7ik.
 Butter-Steady; creameries. 2S@25c; dai- ries, 2lM24c
 Eggs Firm; receipts, 1633o cases; at mark, cases included. 151A4l6c; ordinary firsts 16c: frsts, 17i5c
 Cheese-F'irm; daisies, 15ik@15s4c; twins, 15d15hc; young Americas, 15lzd15%c; long horns, 151s415%c.
 Potatoes-Quiet; receipts, new. 60 cars; old, 8 cars; new, 67c. Poultry-Quiet; turkeys, 12s; chickens, 131kc; springs, 22d26c. Veal-Firm; Sdtilc Cash quotations were as follows: