South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-04-29
BEARS HAVE BIC
DAY IN MARKET
Longs Unload Wheat and Price
Takes a TumbIe-Crop Con-
ditionS Are More Favorable
Than Heretofore.
BY JosEPH +. PRITCHARD.

CHICAGO. April 2s.-The bears in
the various grain markets were given
all the speculative rope they cared 20
use and thu consequence was that
they put out GOOD sized short lines
Tuesday. In addition 10 this selling
there was heavy liquidation by be
lated longs Instead OF taking care
of the grain dumped into the pit the
trade on the whole backed away from
IL and had no purchase been made in
order 10 secure profits, much larger
declines would have been seen. There
were losses in wheat OF 3-S and 0-Sc,
in corn Of IS and l 1-Sc and in oats
Of is and lac.
Conditions surrounding the grain
markets appeared as II they were
manufactured for the purpose of al
lowing the room trading element to
sell themselves into hole. There
was no one in the trade who at
tempted TO head them of in their sell
ing movement. but on the other hand
the larger houses gave them some
assistance" by putting out gOOdly
lines of all the cereals. Sentiment was
bearish-decidedly so, and the bears
felt happy because they were undis-
turbed In making the most OF the sit
UatiOn These shorts may not feel the
twists Of the controlling houses in the
trade Wednesday or Thursday. but
they viii feel them before the week
has come 10 an end.
Crop conditions were even more
favorable than heretofore. While the
seeding is late in western Canada and
the grain men at Winnipeg are be
coming alarmed over conditions. the
delayed seeding in cur own northwest
is attracting only passing again, as
the conservative up there believe there
is ample time 10 seed wheat.
In g no
ditions in the southwest was the slow
cash trade in wheat There we're
sales here Of only 10000 bushels and
the cash handlers as one man, report
ed bids as out of line for even small
sized lots as interior millers are en-
abled To secure all the wheat they are
IN need OF at their mill doors \
Minneapolis message says the -four
business there is very dull and not
over half the mills are running.
While the roads in the Argentine
Republic are reported as impossible
because of the recent rains the corn
from that country was offered at "a
for May and s. 1-2c for June ship
ment c. /. T., New York. This was
&c off for May and 1c lower for
June. \ cable from there reported
damage reports as greatly eXagger-
ated. The weather was wet over
much Of our own corn belt which is
sec
ton OF the country.
The weather is perfect for the grow
Ing oats crop and with the shorts
pretty we'll in and only a moderate
shipping demand there was little to
sustain values. New York reported
200,0 bushels Canadian oats as sold
for export and bids were &c over the
Chicago May price for more.
Had not some of the packers en-
tered the provision market as buyers
and had not local shorts covered
rather freely prices would have suffer
ed a sharp setback. There was a fur
Their decline in hogs Of 10c which
caused many OF the smaller holders
10 hQuidate. The cash trade was still
fiat and unsatisfactory. Close:
WHEAT-May % SIS; July Sc as
a 10; Sept. 50 rs Sc.
CORN-May 64d64 is! July. new,
65 $50 64; July. old. 64G641-S:
Sept new. 63 81; Sept. old, 63 rs.
OATS-May SO 81 Is; July STA
a 81 is; Sept. 50 rs.
PORK-May 1910; July 1895:
Sept. $685..
LARD-May 1895; July s1O.12 IL:
Sept $1,000.
RIBS = May 5000; July s111o;
Sept. SLIP II.