South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-06-18
FOREIGN BUYERS
IN WHEAT MARKET
BY JOSEPH i. PRrTCHARD.

CHICAGO. June IS.-The purchas
or new and old wheat by foreigners at
Chicago Wednesday amounted TO 800
600 bushels in all positions. II has
been said right along that importing
countries were all taking moderately
OF our wheat. but their recent pur-
chases demonstrate the fact that they
are in the market right along on
large scale The wheat 20 change
hands Wednesday was not only new.
but old as well. Conditions in the pit
reflected the export trade and il also
showed that domestic demand exists
for the cash article Besides the cash
wheat TO sell here 20 millers and 9TH
ers vessel room was chartered for
shipment OF 300, 600 bushels 10 Buffa-
10 al "a rate Of 7-SC Millers east Of
Chicago bought $1,000 bushels here
which shows these millers are not de-
pending on home supplies at the mo-
ment.
IL is known that while the OklahO-
ma wheat received here was in con-
dition 10 be ground Immediately. the
grain now being harvested and thresh-
ed in Kansas. Illinois and some other
states will have 20 pass through the
sweat before IL is in condition 20 be
T.
ST Louis reported fair hedging sales
Wednesday Most of these sales were
against the actual wheat now being
harvested I'm the "Sunflower" state.
\ message from Kansas City said
that on farm Of $50 acres the aver
age yield was 81 bushels.
Recent rains in the southwest have
checked the offerings of wheat from
that section and the selling Wednes-
day was freer from Illinois than any
other state in the winter wheat belt.
There were losses in the wheat mar
ket at Chicago OF Is n Csc and had
not shorts covered in order to receive
profits the recessiOns would have been
more pronounced. as the market was
under more or less selling pressure
during the entire session. The buying
of July was considered much stronger
than the selling and il was led by one
or two OF the old bull concerns in the
trade.
The declines Of 1-S01-4c in the
nearby corn futures were based on a
weaker situation at Liverpool as well
as at BuenOs Aires. The improved
weather conditions in the southern
hemisphere and the cheaper offerings
OF corn from that country caused
many of the longs TO sell out and to
take the short side of the market
Longs threw overheard goodly guam
titles OF oats and while prices showed
gains OF $50 1-4c the situation could
not be called a strong one. There was
a good demand on all the weak spots
Crop reports and conditions were gen.
orally favorable the recent rains prov
ing beneficial to the growing plant
Some OF the best concerns in the trade
believe that oats are likely to sell tC
a lower level
The large packers were liberal buy
ers OF provisions and this moVeme nt
caused shorts 10 run to cover and
carried prices upward. Much of the
lost ground Of Tuesday was regeined
The selling of hog products was scat
tered and was largely speculative and
partly in the way OF taking profits by
longs. Close:
WHEAT-July. 81 7-SdS3; Sept,
81 IL: Dec. SO $685..
CORN-July, 20 II; July, old Sc
7-S070; sept. 81 3-8; Sept. old, 67 SIS
a ID: Dec. 81 1-2.
OATs-July SO IS; Sept, IS; Dec.
1918
PoRK-Juiy, SCOTS; Sept, $50
171-2.
LARD-July. siO.12 IL; Sept
$1,000
RIBs-July. s11521-2; Sept, $11.5;
Oct S11.32 1-2.