Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-03-09
SELLING CAMPAIGN DEVELOPS
AFTER PRICES ADVANCED
EARLY IN SESSION..
LARGE WORLDS SHIPMENTS
COUNT AGAINST BULLS
Corn Reserves, Smallest Since 1904
Have Only Temporary Effect on
Priess-Priess Drop Under Satur-
days Levels - Sentiment Regarding
Oats Almost Universally 6earish.

Chicago March e.-General selling Of
wheat by commission houses today
wiped out gains due to a moderately
buliish construction Of the government
report on farm reserves. The selling
did not develop, however. until the
market had made fair advance. Large
world shipments and perfect conditions
for the domestic winter crop counted
against the bulls. Opening prices were
Alas higher. and there was a slight
additional up,urn before reaction set in.
A decrease IN the visible supply fig
ures led atterwa-d TO a slight rally.
The close was steady. the same as Sat
urday night, Il q Il higher.
Corn.
Reserves, the smallest since 1904, had
only temporary Strengthening effect
on corn. Shipping conditions remained
disappointing. Altho prices were a
shade 10 !. higher. the market soon
went under Saturday nights level.
Stop-loss orders and absence OF sup
port increased the weakness, but the
pared to Saturday night
Oats.
Sentiment regarding oats was almost
universally bearish on account OF the
government figures on farm stocks be-
ing much larger than expected. \
sharp break came right at the start,
and there was no sign Of any import
ant rally.
Provisions
Higher prices for hogs carried pro-
visions upgrade. Grain weakness.
however, brought about a subsequent
fall.
Daily Grain Letter.
Hanson Bros. & Co.'S wire TO Bell &
wichelman. 2o2 Masonic Temple.
Phone 1881
Chicago March e-Wifeat - Altho
the government report was conceded 10
be bulltsh and the usual Monday
statistics also favored higher prices,
at the close wheat was up Il a Il for
the May delivery and unchanged for
Julv. The explanation of this s!tua-
ton appears TO lie in the almost per-
feet growing crop conditions. The gov
eminent report undoubtedly had
steadying effect on the market, which
was dominated by bears and was in
cIined to sympat h.ze with lower corn
market It seems logical to expect
widening Of the difference between
May and July unless serious damage,
not now in sight, occurs 10 the growing
crop.
Corn-After another day Of vigorous
activity on the part Of bears, corn
closes a lower to IS higher. The net
ADVANTAGE, therefore, TO short sellers
is rather disappointing. Sentiment was
almost universally bearish. cash de-
uland was slow and, according to the
bears, no outlet is in sight for our
present accumulation. The visible sup
ply showed an increase Of 1000
bushels as compared with over 2.0O0.-
600 bushels a year ago. Total stocks
are about 1000 900 bushels less than
last year. 4 careful study OF the gov
eminent report on farm reserves eX'
plodes the theory OF light feeding on
account Of mild weather. Already,
nearly as much has been fed this year
as in 1919 and IN 1912. altho the total
available is considerably less than dur
ing those years. AS compared with
two wears ago and in fact with the
majority Of years. there is much
greater incentive for feeding corn on
the farm.
Oats-As was expected. oats were
decidedly weaker on the government
showing Of heavy farm reserves. The
visible supply showed a slight increase
and total stocks are now y, 900,
which figures do not include liberal
supplies of bonded oats.
Proyisions-There was considerable
pressure on provisions which was
traceable to those interested in lower
hog prices. The run Of hogs is disap-
pointing and prices are held down
with considerable difficulty.