South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-04-24
NEWS FROM OLD
WORLD BEARISH
May Wheat is Off Three-Eights
of a Cent While More Defer
red Futures Showed a Larger
Decline. Sea .3ues,es,
BY JOSEPH #. PRITCHARD.


CHICAGO, April 24--May wheat
was off only S-Sc Thursday while the
more deferred futures were II a 5-S.
A great deal Of the bear news on wheat
was IN the wav Of cables from the old
world. Liverpool refused to follow the
advance established at Chicago on
Wednesday and this caused some sell
ing in this market early in the day
Instead OF advancing, the big English
market was lowered and this too IN
the face OF prospects of light snip
rnents from Argentina India was a
freer seller OF wheat TO the importing
countries and in addition 10 THIS the
crop reports from Europe were favor
q bic and those from the United states
were still good To clinch the crop
situation in the southwest in favor OF
the bears. rains were reported as gen
erai. These rains. however, were
mainly beyond the Missouri river.
One OF the large milling concerns in
southwestern Kansas in message to
a grain house here reports rain from
IS Of their stations north and west OF
that point. A private message from
central Kansas said that a cold driZ-
zling rain was falling over that state
which was considered favorable for
the growing wheat
Whether there is a large open in
terest in the May wheat at Chicago
or not is a question that may be heard
on the board Of trade every day. il
IS believed, however that the longs
are IN control Of enough to swing the
prices. Considerable wheat has been
hedged here and some OF the hedgers
who own the cash article are still at
sea- not knowing what course to pur-
sue in order TO protect their own in
teTests.
There are many In the corn trade
who believe MAY shorts were even on
the market. With the stronger stu
alton In Argentine corn and the pros
poets are for much larger shipments
from there, the bull longs a. the May
future at Chicago find themselves in
an easy position. Argentine shipments
this week are estimated at ] ,4SS,0OO
bushels. compared with 4.412.00
bushels the previous week and 1885,
900 bushels for the corresponding
time last year That country has had
sensational rains and the movement
OF corn has been checked in cOnse-
Cuence- 1t was reported that some of
the Argentine merchants who made
sales or corn 70 come to this country
during this month were attempting to
cancel them. Buenos Aires reported
the situation as firm, with speculative
support good, clearances small and
the corn more firmly held with ex-
strength in that market was a reflec-
ton OF the advance at Chicago early
IN the week.
The rains OF Wednesday were
doubtless beneficial TO the oats al
ready seeded and the feeling in that
market was rather tame in conse-
ouence. Advices indicate that con-
ditiOnS are most encouraging, West
ern receipts were larger. than a week
ago as we'll as year ago. which
shows that farmers are willing to part
with their lines.
Hogs at the yards were 0c higher
Thursday and the estimated run for
Friday was only for 1900 head.
Packers. were free sellers and this
with only Il moderate demand caused
a price setback along the entire line.
Commission houses led in the buy
ing and this was credited to outside
interests. Cash trade was unsatisfac-
tory. Close:
wHEAT-May. 927-S; July, S71-2;
Sept. ST.
CORN-May. 651-s: July. new.
81 3-407-S; July, old, Ga rs; Sept, |
new. s. "a a rs; Sept, old, Ga rs
OATS-May, 81 IS; July. 81 - a |
SIS; Sept, Sc 3-S.
PORK-May, s2O.O5; July. s2O15;
Sept. 5000
I4ARD--May, $1O.2OI-2; July, So
80; Sept, $1O.47 -
RIBS-NTay. $10.97 10; July. Sill
4 < Sent ST. %