Omaha daily bee., 1915-11-30
PRICE OF WHEAT
RISES AND FALLS
Chicago Market Opens Higher and
Excited on Account Of Seizure
of Grain by Canada.
REACTION SETS IN QUICKLY
RuLLETIN.


WINNIPEG, Man, Nov. 29.---Trad-
ing in wheat futures will be, re-
sumed tomorrow on the Winnipeg
Grain exchange. President Miner
announced tonight after conference
that the council had decided to open
the market tomorrow for trading in
everything except November wheat.
CHICAGO, ILL.,. Nov. 29.--Wheat
jumped in price today as result OF
the Canadian governments seizure
of 2O,000,00O bushels. Predictions,
however, that scent advance would
be added to values here right at the
start we're not verified, the extreme
opening changes being 2 ~ cents.
The market opened excited, with
December delivery at $1,05 to $1.06,
as against s1.03lh at the close Sat
urday. and with May at s1.07 to
$1.OSh, as against s1.06 a 1.06 u
Commission houses and shorts were
the most active buyers,
Sellers were scattered. although ono OF
the largest firms boldly took the position
that tho action OF the Canadian govern
ment meant that Canada was 10 have
preference In filling foreign requirements,
this meaning falling off In United
States exports
Reactions from top initial figures
quickly took place, Bulls we're to large
extent held In check by opinions indus
triously circulated that the English gov
eminent would probably do all, or nearly
all, of the British. French and Italian
business.
CIosIrE Prices Firm.
After sagging little further the mar
ket frightened again on the view that al
enlarged demand on domestic stocks oI
wheat might be ultimately unavoidable
Word was received that export sales fol
shipment by way OF the Gulf OF Mexicc
had been made today amounting to 10000
bushels.
Closing prices were firm. ga TO 2M to
10 cents net higher. with December a
81 .O5% and May at sl.Osh
No confirmation was obtainable here
that the seizure OF Canadian wheat was
largely for Italy's benefit.
AHFtTtlOnt tNdl lndtl Sl@FvVbtVWl
worth OF wheat had been bought In Chi.
cago for Italy were Nsaid probably e
mean the whole United states
Hundred Milton Bushels Available
II is estimated that there is stu In the
hands of farmers and dealers In westerr
Canada about 1870 100000 bushels available
for export out OF a total crop OF abou
$50, 100000 bushels In the Dominion.
George Il. Marcy president OF the Ar
mour Grain company hero, predicted tha
tho Canadian governments action woult
release greater quantities OF wheat fol
immediate delivery and thereby brinl
about drop. II anything. In prices.
Experts said the price of grain ha'
been kept down. so far this year. for tw'
reaFons. The first, they said, Is tn
enormous supply both in the Unite'
States and Canada, and, second, the alb
Rence OF competitive bidding. Most o
the supplies for Great Britain and IL
ullles have been purchased through on
agent. they asserted
Views of BiR Dealers.
Evidently the action OF the Canadian
government is just move to get hold o
the wheat and shin It TO the seaboard be
fore the price rises, and before naviga
uon closes for the winter" said MI
Marcy. "The grain was held by shipper
and had to be moved out of the elevator
TO make room for winter wheat comin
in. The embargo may mean that pressur
Is TO be brought TO bear In certain quar-
tcro for political reasons-posslbly 4
Greece
Franklin NJ. Crosby OF Minneapolis,
we'll known miller was quoted as sayin
thai the action docs not concern tn
American milling interests to any extent
as there is no Canadian grain coming 4
on purchase and very little in bond 70
Teshipment." The amount commandeered
he added. was comparatively small.
Great Britain. Il was pointed out.
100000 bushels short of It's needs a
compared with last year, and the pur
chase of 2O.OOO.OOO bushels at one tim
makes up one-half OF the shortage,
winnipeg suEpcnds option Market
/ WINNIPEG, Man, Nov. 29,-There viii
be no option market here today excep
for coarse grains.
Long before the trading room wa
thrown open for business. the precinct
OF the Winnipeg Grain exchange wer
filled with an anxious throng of grail
men. elevator men, and transportation
(Continued on Page Two Column Three.