The Detroit times., 1913-08-05
MARKETS and FINANCE
GRAIN AND PROVISIONS

I GRAIN AND PROVISIONS
DETROIT, Aug CLOSE: Wheat
opened with "A bullish tone on Monday
! owing more 10 the strength IN corn
! than 10 any bullish condition I'm the
wheat market. The corn weather Is as
unfavorable as ever.
Wheat bears see little reason FOR
high eI prices. but the market has lot
OF steam on and they are afraid 20
sell Some OF the cooler heads in the
grain trade feel that the excitement IN
grain markets Is greater than actual
conditions justify. as the corn crop In
nearly all parts OF the belt could be
saved 20 great extent by rain within
"A few days Corn stands great deal
Of hot. dry weather ana people would
soon forget all about damage III a
good. soaking rain should come. some
permanent damage has probably been
done. but dealers think IL has not been
enough 10 get excited over.
Wheat ~ up little from the low
point. advancing at time when the
held responsible for all this again. Re-
cent export buying has been a bullish
feature and may help some should IL
continue and there Is also a let-up in
farm selling, but the primary move
ment since July I makes the large total
OF a. 0O0On0 bu. or 6S per cent more
than FOR the corresponding period OF
last year Reports from Canada are
favora bic. They are harvesting in the
northwest, bat Russian reports are un-
favorable. Export agents report no
bids anywhere near 10 a wOrkab BILE ba-
siS on Monday.
Missouri has done great deal OF
threshing and the wheat crop is esti-
mtted at $1,000. 000 bu. against u. 0OO,-
GOO bu year ago. Missouri corn is
now estimated at l9l 600 GOO bu against
$4,000, 600 bu last year.
Wheat was strong early and ad-
vanced &c. but weakened later and
closed = lower for cash red lsc lower
for September and May and uncnangea
for December
Corn advanced ne and oats lost lkc.
Receipts In the Detroit market on
Monday were Loo bbls OF flour. IL cars
OF oats OF corn. 20 of oats and 3 of
rye Withdrawals were 1000 bbls OF
hour and 1000 bu OF wheat. Stocks
are lS3,N20 bu OF wheat, 5O45O bu Of
corn, 1880 bu OF oats and 1900 bu
of rye.
Wheat stocks in Minneapolis de-
creased 100000 bu in four days
Wheat on passage amounts 10 a.
$4,000 bu, compared with 33.720. 900 bu
a week ago and S7,si4,o00 bu year
ago.
Receipts OF wheat Monday: Duluth.
40 cars. against year ago Mime
apolis, las cars, against 1875 Winnipeg
l05 cars, against ST. Chicago. 49l cars
against l22; southwest. 1.277.0O0 bu
against 1895. 900 bu
Exports of wheat and -four Monday.
l2g2.CGe bu.
Primary wheat receipts were 2.116
00O bu against 2.609, goo bu "A year ago
The American visible supply changed
as follows last week. Wheat. 4.5S6. Gee
bu Increase, oats. ,42S 900 bu decrease:
oats, $4,000 bu decrease
TIE Canadian visible supply of wheat
decreased 1875. 600 bu last week
Wheat quotations: Cash No. red.
sac september opened with an advance
of &c at gle. advanced to 9ta.c All
declined =
sbc. advanced 10 95i3c and declined To
"a NC May opened at 1914 g. advanced
To 81 9OA and declined TO 9ss4c; No. 3
rec, SIC, No. l white SSc
Coarse grain quotations: Corn-Cdsh
No 3, II he, No. yellow. / car at
. x later quoted at 74c, No. yellow.
car at IS1s No. 3 white. cars at
Rye-Cash No. ?. s2Hc. Beans-All
positions. $50 Prime Oc-
tober and December. sST5: October al
sikt, slO75; sample alsike. 10 bags q,
$1,000. at So % Timothy Prime
spct, 40 bags at $3.50 Alfalfa-Prime
"A &c. new standard, 43iac asked. No 3
white. ? cars at A q c, closing at assoc
askvl new No. white. . ears at l3c:
S Sa T'e wH e., at t ri - ,I'T
CHICAGO, Aug. i,-Starting with a
sharp advance that put September fu-
lures over the zoe mark. corn contin-
ued TO mount in an excited market to-
day and in the early trading was quot
ed at Il sc for September and 674c
for December, an avance OF I%c for
September and Of i lsc for Decem Der
over the Saturday Moons close. Dry
weather continued over the entire corn
belt
Wheat displayed surprising strength
and in the early trading was = ale
over last weeks close. Unfavorable
crop news abroad, light receipts in the
northwest and the strength in corn
were the chief bull factors.
Oats started 7sa1isc higher today
moving upward almost solely because
OF the high corn process Offerings
were light early i'm the day.
Provisions were sharply lower with
a weak hog market.