South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-11-26
BULLS IN WHEAT
CONTROL MARKET
Bears Make Raid on Prices as
Result of Peace Talk, But
Advance Puts End to Their
Attack.
BY Joseph +. Pritchard.

CHICAGO, Nov. 25.-The bulls in
wheat hold the fort. These specuia-
tors are helped from day 20 day by
the enormous cash trade on foreign
account IL looked at one time on
Wednesday as If the bears were again
10 control the wheat pit, but the at
tack they made on the market early
because OF peace talk, caused many Of
the early sellers 10 reinstate their lines
and TO suffer losses. Nearly all the
early sellers were buyers and they
came in on the advances esta blished
late.
IL must be remembered there are
resting orders OF large dimensions in
the wheat market here on the buying
side from day 70 day and that when
ever the price strikes a certain level
the buying power asserts itself and
everything available is picked up,
mainly by foreigners. Cash transac-
tons in all positions Wednesday
amounted to possibly 1,250,OOO BUSH
els and the greater part of this was
for export Millers purchases amount
ed 10 about $4,000 bushels at Chi
cago. Besides the flour sales in the
northwest as well as the southwest for
export, Toledo reported 1000 barrels
10 go 20 South Africa, and 100 bar
rels 10 the United Kingdom.
The matter OF sentiment in wheat
was more bullish during the latter
part OF the session and after the close
OF change wednesday than in several
previous days. The fact that many
Of the shorts were driven 10 cover late
and that there were large export TAX
ings Overbalanced all else in the mar
ket favorable 10 the bulls. Those
handling cash wheat at Chicago
dwelt upon the fac. that the premi-
ums paid Wednesday by exporters
were the greatest on the crop and
word came from the Atlantic coast
markets that these conditions existed
there and gulf port markets told also
OF an advance in the premiums.
According 10 an opinion OF the lead
ing statistician OF the agricultural bu-
reau at Washington the area seeded TO
wheat this fall and next spring will
Overbalance any seeding ever made in
the United States and other wheat
growing countries.
The weak periods in wheat are
caused by a lack OF speculation. If
the speculative trade was liberal
prices would be much higher than
are now TO be seen, with the export
trade as a potent factor helpful TO
the bulls
Corn was under selling pressure
from the opening TO the closing of the
day There was heavy selling by the
longs and short lines of considerable
size were put out The shipping de-
Inand was fairly active and export
takings amounted TO 100000 bushels,
mainly at Chicago. There were sales
against the actual corn to come for
ward and the December was the weak
est spot of the list.
oats were lie lower with corn and
were under more or less pressure dur
ing the entire session. There was con-
siderable liquidation by longs and
had not the December been well alb
sorLer a sharp price break would
have been seen. The export business
in all positions was 100000.
The weakness and decline in hog
products was on the selling of lard
which was attributed TO packers. Of
ferings of pork and ribs were alb
sorbed by a fairly good commission
house demand with some of the buy
ing credited to stock yard interests.
Cash trade was quiet with a very slow
demand for lard.