South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-03-25
SPECTATORS ARE
CONTROLLING CORN
Switched From Bear to Bull
Side at 0pportune Time and
Now Have Paper Profit Over
Every BusheI.
BY JOSEPH F. PRTTCHARD.

CHICAGO. March 25.-A crowd OF
big SPECTATORS at New York and
Toronto, Canada-men who have made
killing in the stock and cotton
markets at New York, now hold a
tight grip on the May corn at Chicago.
This big interest switched from the
bear to the bull side of May corn re-
Gently at an opportune moment and
Their heavy buying at a much lower
level than that of the moment makes
their position a most desirable one.
They now have a handsome paper
profit in every bushel they control.
This line Of May corn was accumu-
lated through the house OF Thomson
and McKinnon and the holdings OF
the cotton crowd are now placed as
high as 5000, 900 bushels. Whether
these big spectators will be enabled
To turn their paper profits into real
money is a question.
It was generally believed Tuesday
when a message was received from
Galveston, Texas saying that a cargo
of Argentine corn had arrived there
and that one compartment of the
vessel was OF new crop of corn, there
would be a sensational break in prices
for the day. There were declines and
the market rested close TO the bottom
[
May. about 1-4c for the July, but I'M
changed for September. There was
an almost complete halt in the cash
demand a Chicago, sales amounting
10 only $4,000 bushels. There were
liberal offerings Of Argentine corn at
eastern seabOard as we'll as at gulf
ports and the lowest price of the sea-
son was asked-65c New York for
June and July shipment.
The big western markets held up
on cash corn Tuesday, but the trade
was reported as slow There was less
doing in the south in cash corn, al
/ though it was reported that St Louis
was a buyer of that grain in Chicago
/ territory.
/ There were S46, 900 bushels received
at western markets Tuesday. There
were 215 cars inspected at Chicago.
Cash sales were only $4,000 bushels.
There was little change in wheat
Tuesday with values as much as Is
/ a. 1-4c lower for the deferred months,
while nearby were unchanged. There
/ was some strength shown early, but
with the weakness in corn wheat sold
off in price. The Winnipeg market
was weak on selling of a big line of
long wheat there by well known eX-
porter who reported the export bus
mess in the cash article as at a stand
still. Minneapolis reported a fair de-
/ mand for cash wheat. but Duluth re-
ported no possibility of either export
or milling business. Minneapolis de-
creased 225,00O bushels SO far this
week. Cash transactions were the
smallest in weeks at 11,0C0 bushels.
Oats were weak and lower and the
tone heavy Cash prices were firm
\ in outside markets and steady here,
while the shipping inquiry was slow
Cash sales were small at $4,000 BUSH
/ els
Local longs were sellers of hog
products. which ruled dull during the
entire day. Cash trade in meats and
lard was unchanged. Close:
/ WHEAT-May SO 5-S July So
Sept SO 3-S
CORN-May So IS; July 60 S-4q
! IS: Sept SO.
OATS = May 40 is; July 40 3-S;
Sept So ID.
/ PORK-May $21.5O; July 21.57 ID
LARD - May $10.77 IL: July
\ 1927 ID; Sept. Ills.
RIBS-May s11.45; July 1882 II.