The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1916-08-28
Late Market Quotations
Long Commission CO. Grain Letter.
Furnished by Long Commission Co..

Long Commission CO. Grain Letter.
furnished by Long Commission Co.,
4oS Main St Telephone No. 1901
CHICAGO, Aug. 2S-Wheat-Dras-
tic liquidation resulted from reports
that Rumania had entered the war on
the side OF the allies. and less opti-
MYSTIC views of the railroad situation
as regards the possibility OF strike
The market was extremely nervous,
with little support from resting or
ders and small volume OF business
against export sales. It is impossible
to form DEFINITE notion az to the
amount OF wheat bought by foreigners
but quantities will probably be larger
than those given out early Further
combinations in the political sltna-
ton in Europe are not likely to result
lin any larger available supplies OF
wheat. While this phase OF the situa-
ton will continue to favor the pear,
the shortage of supplies Will become
more and more apparent and event
ualIy result in higher levels than
those yet reached.
Corn-Tne corn market was heavy
in sympathy with wheat, but the
break was not so severe Crop reports
are contradictory, and the strike sit
uaticn is not regarded as so important
2 market influence in corn as IN
wheat, because there is SO much less
OF the former moving. II the north
ern part OF the belt escaped frost
there Is a prospect for a fair yield OF
much better corn than last year. SO
long as wheat is heavy, corn will prob
ably seek lower levels. but the gen.
eral cash situation and crop outlook
do not warrant selling on the breaks
Oats-The break in oats was en-
tirely in sympathy with that In othef
grains. There was a good demand for
cash oats, both from shippers and eie-
yatcrs interests and. on declines from
this level, the buying side seems ad-
yisable.
Grain Review.
CHICAGO. Aug. 2S.-SensauonaI
drops of seven to eight cents IN
wheat prices on the local grain mar
ket today threw pit traders into
frenzy. News that Rumanfa had de-
clared war on Austria and less favor
able news in regard to the strike
situation were said by traders to be
responsible. At noon today Septem-
Der was down s cents over the close
Saturday. December was down
cents. while May was down 3.
The market opened down from one
cent to az cents. At noon Septem-
her was down below the opening q
cents at 143%; December down 3
cents at 146. and May down 6 cents
at 149.
The market, after its low opening.
became remarkably jumpy, changes OF
two and three cents taking place
within half an hour. The recoveries,
however, were rapidly lost and the
trend was steadily downward. I'M
mense stop loss orders we're hurled
| into the pit and the market could not
absorb them.
| ( The last sensational decline In
wheat was . year ago last March
Today's drop, traders declared. was
not a record, although remarkable LOT
! its suddenness. Traders beieveo
/ Rumania's entrance into the war
might mean speedy victory Tor the al
| lies and release OF Russian wnaet.
Bears were very active ard poured
flood of rumors into the pit which
further unsettled the market.
Corn felt the influence OF the wheat
decline. Following steady opening.
the market dropped. September was
down 2h at S3zs; December down
I11S at 1914, and May down * at a IS
Oats opened lower and made fur
ther declines on weakness in the
other grains September was down
liz at 46Z; December down IA at
49,. and May down 1 as at SIS. :.
Provisions were lower on . dull
hog market and weakness In wheat.
| Chicago Estimates for Tomorrow.
| FURNISHED by Long Commission Co..
402 Main Telephone No. 1901
! Hogs, 5000; cattle, 5000; sheep,
10000; wheat, 337; corn. ISL; oats
/ 1000.
Liverpool Close.
Wheat, 1a01 lower; corn, unchans
1 ed.
clearanees.
Wheat and flour, 1,426.000; corn
247. 900; oats, 3OS.000.
Northwest Wheat Receipts.
Minneapolis, 459 cars; Duluth, 81
cars: winnipeg. 6S4 cars.