South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-07-25
FOREIGNERS AGAIN
IN WHEAT PITS
Take Two Million Bushels at
Chicago While Purchases at
Other Points Are Liberal
Less Rust Talk.
BY JOSEPH F. PRTTCHARD.

CHICAGO. July 25.-Foreigners
were again on the buying side of
wheat in q liberal way. the takings of
cash Friday being 100000 bushels at
Chicago and the purchases at the 9TH
er markets were also liberal. This
demand caused the July and Septem-
Der to advance in price. and while the
highest levels were not held the
gains were Is and lac for July and
September, respectively. The de-
ferred months were off 3-S q lie and
the weakness for the latter was on less
rust talk and the fact that these re-
ports are becoming quite stale.
Chicago cash handlers reported
big purchases of wheat in the gulf
country. but elsewhere the trade in
the cash article was small Kansas
City grain men claim that the accept
ances on bids sent out of that market
on Thursday night were the largest on
the crop. The heavy sales for export
made earlier in the session reflected
by the increased export clearances this
week, the total being 7,74O, 600 bush
els compared with 5,962,OOO bushels
the week before and 1901, 600 bushels
for the corresponding time last year.
1t is expected by cash handlers that
the clearances will exceed 100000 900
bushels weekly before long as enor-
nous quantities are to be moved out of
Montreal and this viii be counted in
the clearances from America. In ad-
ditiOn TO the big cash sales reported
above, vessel room was chartered for
1,175.00O bushels, part of which is to
go to Buffalo at Use and part TO
Montreal at 7Sc-the latter for
quick loading
The wheat futures showing the most
strength Friday doubtless carried the
largest open interest and shorts fear
ing that conditions in the northwest
may change for the worst led in the
buying. There were reiteratiOnS from
the northwest of the wheat plant be-
ing too far advanced for any great
amount of damage from black rust
or any other cause The losses in the
northwest from blight and black rust
have. it is believed. been pretty well
discounted, and with heavy offering
from the southwest conditions are
likely to show at least partial
change.
Sentiment has been quite bullish and
there are many IL the trade who be-
lieve that the undercurrent has been
stronger than conditions justify. With
the inauguration OF the movement of
new spring wheat in gOOdly quantities
it will be seen that the situation will
change in favor of the bears
The deferred futures in corn were !
% "a &c icWeT Tludy NlIlIe IIie Hedl ny /
1-Sc. Rains throughout the |
belt and increased offerings from |
longs We're the principal helps to the |
bears. In addition temperatures were /
lower, although there were many re- |
ports that the corn had deteriOrated /
rapidly of late.
Oats were la 5-Sc lower on the /
increased movement as western mar /
kets received 100000 bushels today /
against $4,000 bushels a year ago.
Stop loss selling in the provision \
was not only the feature but /
the factor of the day. These products |
came out through scattered longs and /
there was also considerable pressure |
from both large and small packers |
The decline in the price OF hogs at the |
yards was draw back 10 the market !
and the recent hot spell caused let |
up in the demand for cash meats.