The Detroit times., 1913-04-09
MARKETS and FINANCE



DETROIT. April s.-Close: The
opening tone OF weakness In wheat
was helped by lower cables from Liv-
erpool where the market was depress-
ed by the weakness here on Tuesday.
The government report confirmed pre-
vlous bearish estimates OF the winter
wheat crop.
Buenos /Ayres did not pay much at
I tentlon 10 the government report. but
remained firm Arrivals at wheat
ports are not heavy and the quality is
high, Liverpool had lots OF realizing.
putting bearish construction on the
government report. Later the hrmer
South American situation caused lit
tie hrmness. but there was pause In
demand for cargoes and weakness fol-
lowed, Paris and Berlin were easy.
Broomhall noted II decrease In CONT
mental demand and liberal offerings.
At home the feeling was bearish but
those who were bullishly inclined call
ed attention to the probability that
the present report liz probably the most
bearish that will be issued this season.
Any change from now on VIII be BULL
ish, and II Is pretty certain that some
changes Will be seen before harvest.
The only hope Of the bull just now Is
that something In the nature OF crop
disaster VIII come along and help them
out. on the other hand, a continuation
Of good weather will start more short
selling and this will be very likely to
force holders to realize and bring
further decline. Cash wheat and -four
are In poor demand and the general
outlook is decidedly favorable 10 lower
prices.
Wheat soon lost the weakness with
which II opened and the close was at
an advance OF q a nc from Tuesdays
close
Corn advanced nc and cloverseed
l5c. Oats were firm and other coarse
grains quiet.
Wheat quotations: Cash No 2 red.
S.12; May opened with decline Of
tc at sl.llh and advanced TO S112:
July opened at save and advanced to
vanced TO &c and closed at 93Nc: No.
l white, s1.l1 Coarse grain quotations:
Corn. cash No 3. 55isc; No. 3 yellow.
II cars at 56lhc; No, yellow, 55c. Oats;
No. white car at a5c. Rye: Cash
No. .. s0iac Beans Immediate and
prompt shipment. sl.95 May. So. CIo-
verseed: Prime spot so bags at 1870;
1880. at $3.50. prime alsike sl2.75
sample slsike. bags at sl2. Timothy
seed Prime spot. so bags at $40
Receipts In the Detroit market on
Wednesday included 1000 bbls OF -four
cars OF corn and 2 OF oats With
drawals were 900 bbls OF -four, Is. 900
bu OF corn and 2,200 bu OF oats. Stocks
are 2s9, 500 bu OF wheat, 145.509 bu
Of corn. $3.50 bu OF oats and 1913
EXPORTS Of wheat and -four wednes-
dav. 1874 900 bu
Primary wheat receipts were 900. 600
bu. against 100000 bu for two days
year ago.
Minneapolis wheat stocks increas ed
10 900 bu for three days
Liverpool wheat closed 81 a I'D low
er end corn unchanged to I'D lower.
Wheat receipts Wednesday: South
west. $4,000 bu. against co 900 bu for
two days last wear: Duluth. 20 cars.
against 80: Minneapolis. $50 cars.
4 Sainst 100 WlnnipeE. 10 cars,
2 Sainst 4ss; Chicago, 131 cars. against
TOLEDO GRAIN AND PRODUCE.
TOLEDO. April 9.--wheat: Cash and
May. N.l2%; July. 93hc; September.
9shc. Corn Cash, S7Ae; May. 5shc;
Cash. 37Ac; May. Ssasc; July, 81 tsc;
September 3ss.c Rye: Cash, SIC.
Cloverseed: cash, 1878; April, $3.50,
October, 1875; December. $3.50 AL
sike: Cash, SI250 Timothy: Cash.
April and October. $40 Butter, eggs
and hay: Tn changed.
CHICAGO GRAIN.
CHICAGO. April 9.-Wheat today be-
gan recovery from yesterdays de-
cline that followed an extremely bear
ish Interpretation OF the government
crop report. The market opened EMS
Ter. but In half an hour both months
were up NC over the days opening.
Liverpool cables reported options low
er.
Corn was higher and advanced In the
earl ytrading. May topping yesterdays
close by Nc and July by FAC. Light
offerings set against eastern buying
orders were bullish factors.
Oats were Arm and ranged from &c
to Ac higher early in the day.
The provision list remained firm.
and options were slightly higher
Opening-Wheat: May Unchanged.
July down 1c. Corn: May up NC; July
up NC. acts: May up isc: July up
Nc Provisions: Steady
Noon-wheat: May up &C: July UP
sc Corn: May UP lc; July up 7sc
Oats: May up NC: July up &c.
Close--Wheat: May up NC; July up
sc Corn May up Ac: July up NC.
Oats: May up &c; July UP sc. Pro-
visions: Higher.