South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-07-08
BIG SHORTS ARE
ON BUYING SIDE
Reports of Black Rust From
Spring Wheat Country Re-
Ceive Little Attention-FOr-
eign Traders Heavy Buyers.
nv JOSEPH p. PRTTCHARD.

CHICAGO. July Big shorts in
wheat were on the buying side in
pronounced manner Monday. There
was more or less uncertainty as TO the
black rust reports coming from the
spring wheat country, but as they
were conflicting in character they re-
ceived less attention than otherwise
would be the case. The market was
IN a position 20 firm up and final
prices for the day were at fractional
gains with the July the strongest
month While there were hedging
sales Of considerable size they we're
comparatively small when compared
with those Of last week. There were
heavy export takings again. the total
amounting 20 nearly 1000, 600 bu. and
vessel room was chartered for IOO,-
600 bu. 10 go TO Buffalo at rs cents.
Wheat was onl s4le on all the hard
spots 10 develop and there was an Urg-
ency shown on the part Of the sellers
whenever there was any strength dis
played.
One OF the sustaining features Of
the open market was the report re-
ceived here from ST. Louis saying that
buying orders were held there for
more than 100000 bu. OF the cash
grain and that this wheat was wanted
by foreigners. The wheat bought by
chicago people had commenced to ar
rive in earnest as the inspection sheet
showed $50 cars Monday. IL is eX-
pected that this big run of wheat viii
be kept up for some time and that
outward movement via lake will be
on a big scale and the deliveries on
July contracts OF No. red winter will
be heavy after the middle OF this
month. Millers bought some wheat
here Tuesday and they were looking
around for fair sized lots for ship
ment to interior points. This shows
that some Of the farmers are unwill-
ing TO part with wheat around the
present price level.
The trade in wheat continued Of an
active character with outsiders TAX
ing more or less interest, but the bulk
Of the business was purely of a specu-
lative kind. The larger room traders
not only at Chicago, but in the smaller
markets OF the country as We'll were
TO be seen on both the bull and bear
side. Sentiment, however, was bear
ish and this feeling is not likely to
change until there are further large
transactions on export account, or
further decreased offerings from the
country.
Corn presented a strong front and
advanced II OILS. one of the fea-
lures OF the markets Of the country
and a potent bullish help as we'll was
a report from Kansas City saying that
livestock men Of the southwest at a
recent meeting made the claim that
the cattle disease epidemic is due
wholly to the imported corn now be-
ing fed in various sections of the cat
tie raising country The Argentine
corn is ground up into feed on arrival
and IL is sent everywhere throughout
the country and the cattlemen claim
IL is full of germs
There was good buying of corn by
strong concerns and great deal of
the grain that changed hands was
absorbed by investors. Shorts were
on the buying side in a liberal way
and had not longs been willing to take
profits the advance would have been
much greater than that shown.
oats were helped some by the firm
e. tone in wheat and corn and prices
la 1-2c higher for the day. The
selling c;vIe mainly from commission
houses on TNsting orders but the pres
sure was cot heavy.
On the Advance Tuesday was free
realizing by longs in the provision
market and there was some short
selling.
Wheat-July, so; Sept, 20 1-sq1-4;
Dec. 50.
Corn-July. 81 rs; old July. sc rs:
sept. 81 10: old Sept, "a SIS; Dec,
% u a 5-S; do old. 50.
Oats-July. Sc "a; Sept. 50 1-2:
Dec. 37G1-S.
Pork-July. 21.75; Sept. 2O.3O.
p Lard-July, 1907 -; Sept, 1920;
Oct, 1927 -.
Short ribs-Juiy 11.s5; Sept. 11SO;
Oct. 11.42 IL.