New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-06-03
PRODUCE AND
GRAIN PRICES
German Naval Victory
Sends Wheat Down 2 to
21sc-Corn Loses.
GENERAL MARKET REPORT.
New York. June .. 1916.
WHEAT

The German naval victory proved a bear
ish feature in the wheat market and prices
sold down 10 new low records for the move
ment and closed at about the lowest with
net losses OF 2m2i,c. Early in the day
there was moderate covering movement.
with general evening I'D for over the holi-
days. as practically all the grain markets IN
the country will be closed to-day owing 20
preparedness celebrations in the West, while
Chicago will close again on Monday for judi
cial elections.
The undertone was heavy from the start
owing to weakness abroad. which was
thought 10 hold out very little promise of as
export demand for American wheat. and
continued favorable weather in the West
Crop sdyices were not Of a particularly
favorable character. however. In fact, a
leading crop expert in the West placed tho
condition of winter wheat at 75.5 per cent
and spring al $50 per cent. and indicated 4
total yield of both winter and spring OF
1S5. 900 900 bushels. compared with about
900. 900 600 last year.
The export demand was very slow and no
new business was confirmed. although there
were run1ors Of moderate sales OF Manito-
bans. The domestic cash markets were mac
tive and milers were not buying freely. al
though 1t was said that In the Southwest
there was disposition shown on the part of
mills to hold their good wheat.
In the cash market No durum was quoted
.
Northern Duluth, sl.2la.: No I Northern
Manitoba, sL22s., all b, New York
CORN.
In responding to generally favorable
weather and crop news, together with the
war news late in the day, corn lost IN SC
bushcl yesterday, closing at about the low
est point. some covering early and fair
cash d-mand. chiefly for Southwestern ac-
count. provided little steadiness after the
opening decline. but there was no specula-
tive support. owing TO the holidays al hand.
and prices easily gave way. Ohio and Ind
lana points were reported TO be offering
corn to Eastern points. and the cash market
here was easy, with No 2 yellow quoted
s0iac. c I, New York.
OATS.
There was less pressure In this market
than Others, and it showed steadiness, clos
ing isq Sc net lower. The Snow report ac-
counted for some Of the buying. As it showed
an acreage decrease of 1850 bushels. and
condition s7.t. with an indicated crop OF
l.23Q.oOo,oO0 bushels. Commission houses
bought early. and most OF the selling was
evening up for over the holidays. Cash oat,
here closed easy. as follows: Standard.
s5Ec: No white. 44l2Tl5c: No white.
4Sl9nAt2c fancy clipped white. $50 &c
ordinary clipped white. 44iad46c, all ele-
yator.
RYE.
Market steady No > Western. sIO7. I {.
New York.
CHICAGO PRICES.
Yester-
Wheat: Open. High. Low. Close. day.
July...... LOS L05si 1885, 1892 l.o5ss
Sept. 1.o6's LOTS L05ii LO5as lO7S
Corn:
s s.5i S.: 81: s ss. s ga. s g.: So.
Oats:
s 5:S, s 81. 49,. So SO: So 81. s.,
FLOUR AND MEAL.
Tn. -four market was very quiet and
Trices were again weak in sympathy with
the decline in wheat. RYE FLOUR quiet
fair 10 good, S5.l0MS5.25; choice TO fancy
$1,000 $3.50. CORNMEAL easy: kiln dried
$40. BAG MEAL easy; fine white anc
City quiet; bran. bulk. s23; lO0-lb sacks
$3.50; heavy middings do. s26 -four mid.
dlngs do. $500; red dog -four i40-lb sacks
sS3 Western quiet bran. l00-lb sacks, s2a
ds%o' standard middlings do. SOS -four
middings do. $500 red dog -four, liO-lb
sacks, 1872; oilmeal. S32@ $3.50
PROVISIONS.
The market for hog products was weak
and lower under heavy liquidation, prompted
by easier hog markets and in sympathy
with the decline in corn. Late in the day
the reports of German naval victory also
exerted bearish influence on sentiment.
Receipts of hogs at Chicago were 5000
estimated for Saturday. 900: Kansas City
received 5000 and Omaha $500. PORK
easy; mess. s25.25d s25.75; family. s26d SOS
short clear s23d s26. BEEF quiet mess.
Sl7.j0Ms ls: family. Sl9Ms2O. packet. Sls6Q
SIG extra India mess, S30M S3l. DRESSED
HOGS steady; bacocns. 1850; $50 10. l3ssc
100 10, 49, &c: 40 ID, 15Hc; pigs. l4lc.
CUT MEATS-Pickled bellies quiet: 10 ID,
l5A.c: Il 10. l5a,c; "a 10. l5c: picked hams
steady. 16i2al7isc. TALLoW steady
special, lOlec; city. %. Mloc; country, lO6
1910. LARD weak Middle West. 1850
l2.15c: city lard easy. l2i. M123sc: refined
lard easy Continent. l4.l5c South America,
lI.35c; Brazil, kegs. l5.S5c compound steady.
lirsQ l2lic. STEARINE quiet; city lard.
lic; oleo. ia, a Re.
CHICAGO PRICES.
Nester-
Lard Open. High. Low. Close day.
July .......12.i0 l2.42 1870 1890 l2.42
September. .i2.52 1855 l2.42 l2i2 1852