Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-06-10
SHORT Selling Of
Wheat Is OV[RDON[.
/ m ~ MAE CROP REPORT HAS
aEEN DISCOUNTED LEADS
70 RALLY.
EuRoeEANoUHsio is
>
REPORTED TO BE HEAVY
Dsouth in Ohio Valley and Region
West Tands 70 Make Market For
Corn Firm-oseious Damage to Crop
in Illinois end Indiana Causes Gain
in oats Pries-Pro~isiens Sag.

Chicago, Juno 1o.-Belief that the
short selling Of wheat, on account OF
the prospective big crop had been
orerdone, caused the market today 70
rally. In addition there were adyices
from Liverpool that general European
buying was on big scale and was
expected to continue. Pit offerings
here were light. After starting I'M
changed to KOS off, prices scored
moderate all-round advance.
Later the market eased off because
shipments OF new wheat were reported
as on the way TO Kansas City. The
close was steady, Is to - and II cent
under last night
Corn.
Drouth in the Ohio valley and in
the region west Of there tended to
make tho corn market firm. Bulls were
ENCOURAGED also by reports Ct an i'm
proyement in the shipping demand
east. The opening. which ranged be-
tween u decline and & az advance,
was followed by a substantial upturn.
Assertions that the purchase of corn
at rural stations had almost reached
the vanishing point We're considered
important on the bull side. The close
was firm. J J. a2d q 70 u. cent net
higher.
soats.
Oats climbed as a result Of serious
damage to the crop in Illinois and In
diana. 1t was said that fields were be-
ginning to fire owing TO the prolonged
heat
Provisions sagged in line with prices
at the yards Buyers were scarce.
Daily Grain Letter.
Hanson Bros, 2O3 Masonic Temple;
phone 1881
Chicago, July 10.-Wheat = While
wheat did not break sharply q 8 it did
yesterday, the market was easy and
showed little raliying power. There
were said to have been liberal expor,
sales here yesterday which were not
reported and cash milling demand to-
day was again fairly good with sales
OF 10000 bushels. News wac not par
ticularly bearish insofar as it hac
bearing on the old crop situation, but
the fact that new wheat was reported
en- route to Kansas City from Okla
homa and the possibility OF heavier
hedging pressure in the near future
prevented investors from coming int
the market Broomhall's internationa
review was less bearish than expected
for while admitting the possibility o.
a large surplus in the United State:
and Canada, he calls attention to the
unusual demand which would likely
exist the coming year in nearly every
European country.
Corn-The deferred deliveries O.
corn were in greater demand than Jul,
and advanced a cent to IA while th'
nearby delivery was Il as higher
Cash demand was not urgent in thi
market and prices were steady to Il
cent lower. Outside markets were ir
regular, ST. Louis being higher Will
Omaha and Kansas City were un
changed to II cent lower. Arrivals O
Argentina corn at European ports ar
said to be unsatisfactory, being YER,
irregular in quality. The buying o
December corn by commission house
indicated some uneasiness on the par
Of the country in regard to damag
from hot weather and drouth.
Oats-Oats were strong. both /
sympathy with corn and on account Q
complaints of drouth from points i
Illinois, Iowa and Missouri. Cash de
n1afa is good and prices mere today :
h@A cent higher. Unless relief i
the way of rainfall is afforded soon,
would not be surprising 20 see sharpl
higher levels.
Observation-Disclosures showed RS
newed activity and trading was most
ly at higher prices. A better deman
for meats and prospect of dininishe
receipts of hogs were the importar
factors in the advance. Market actio
depends largely on the attitude Of IT
larger packers.