Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-06-29

HEAVY CEILING ON
BULGE CAUSES REACTION
Corn Responds to Strength Of Wheat,
Following Show Of Weakness Owing
to Somewhat Improved Weather
conditions-oats Show Firmness at
the Start.

Chicago. June 29.-Higher cables and
continued unfavorable weather in the
domestic harvest region gave fresh
strength today to the wheat market
here. Heavy selling on the bulge caused
quick reaction. but rally soon fol-
lowed. The July option remained the
leader in the advance. After opening
g and Y to IL cents higher prices
dipped quite sharply. and then again
took the up grade.
Predictions were current that har-
vest weather would Improve. The close
was steady at unchanged prices to IA
and IS cents down.
Corn.
Corn responded to wheat strength. At
first, however, the market tended to
sag, owing TO somewhat improved field
conditions. Opening prices, which varied
from the same as last night TO Is cent
down, were followed by an upturn all
around.
Later the market tended downward
when wheat became weak. The close
was steady at Is to y cent under last
night.
Oats.
Oats showed frmness from the start.
Reports of recent liberal export sales
encouraged the bulls.
Provisions.
Weakness in the hog market had
hearish effect on the provisions market.
Daily Grain Letter.
FURNISHED by Lamson Bros. & Co..
Masonic Temple. Phone 1881
Chicago, June 29.-Wheat-An early
bulge in wheat was met by selling
orders in the hands Of commission
houses and pressure from local bears.
Locals persisted on the selling side
thruout the day and support was in
sufficient to hold any of the advance.
More rain in the southwest and an i'm
provement in the demand for old wheat
were responsible for the strength in
July. There was both milling and ex-
port demands for old wheat and prem
iums advanced over those of yesterday
Local traders were encouraged to sell
by the belief that weather conditions
over the territory where harvest Is in
progress are likely to become more
favorable. Foreign demand for new
wheat is reported poor, but the sea-
els new crop for export.
4 Corn-Corn sympathized with wheat
and closed at declines Of q to q cents.
A little scattered liquidation in the
nearby delivery and liberal selling by
local bears caused the decline. There
was a good class Of buying on the de-
cline, commission houses absorbing the
offerings and causing a moderate rally
from the low point. Shippers did a
fairly good business and reported sales
of 10000 bushels. altho total sales in
all positions probably exceeded this
amount Export clearances for the
day were 175, 5000 bushels.
Oats-Cash oats were again In good
demand and premiums were wider.
Crop prospects, however, were reported
as generally excellent and on this &C
count, commission houses and local
traders were free sellers of the deferred
deliveries. Sales Of $4,000 bushels were
made by local handlers to the seaboard
and outside markets were thought to
have done some export business also.
Additional business was in sight with
bids close to the market. Domestic
inquiry was fairly good, with shipping
sales of 100000 bushels given out.
Provisions-The provision market re-
covered from early weakness on buying
credited to packers and the close
showed small advance as compared
with yesterday. The situation In the
cash trade remains unchanged. fair
demand existing for meats. but little
inquiry for lard. Hog receipts for to-
morrow are estimated at $1,000.