Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1916-05-03
PRICES QUICKLY RECOVER AZ
TER WEAK OPENING DUE TO
BETTER WEATHER.
LIVERPOOL ARRIVALS
WHOLLY INADEQUATE
Corn Sage In Sympathy With Early
Weakness Of Wheat and Shows No
Power to RaIly-oats Ease of Owing
to Bearish Action of corn-Provi-
sions Dseiins-Hos Receipts Large.

Chicago. May 3.-Reports confirming
green bug damage to the Oklahoma
crop turned the wheat market up to-
day after a weak opening. Initial de-
clines were ascribed to improved
weather in the northwest and to the
resulting better outlook for spring
seeding. Liverpool advices that ar
rivals were inadequate and that ship
altogether, tended also to lift prices.
The opening which ranged from q off
to Il up, with May at 1.149s to lis
and July at 1.15A to 1.16s. was fol-
lowed by moderate upturn all
around.
Reports Of a decline in Manitoba
wheat at Liverpool led to a setback,
The effect was more than offset by ex-
port sales aggregating 100000 bushels
and by assertions that Hessian fly In
Illinois had caused some ploughing up
of fields The close was firm at 70 tD
Y net higher, with May at 1.15k and
July at 1.16A @1.16%.
Corn.
Corn sagged in sympathy with the
wheat, however. the corn market
showed no power to rally, except in
the May option, which was being pur-
chased by elevator interests. After
opening unchanged to u down, prices
averaged slightly lower than yester-
days finish.
decided advance. The close was steady,
unchanged to Is higher.
Oats.
Oats eased off owing to the bearish
action Of corn. Buying was only of a
scattered sort.
Provisions.
Larger receipts Of hogs than ex
pected led to declines in provisions.
No support was forthcoming until
litter a moderate break.
Daily Grain Letter.
FURNISHED by Lamson Bros wire, 203
Masonic Temple; phone 1881
Chicago, May 3-Wheat-After a
steady start wheat broke sharply on
selling. which carried market into
stop-loss orders. Commission and
cash houses absorbed offerings with
buying orders based on insect damage
in the southwest and revival of ex-
port demand. Some of the buying of
the deferred deliveries was against
sales Of new crop wheat for export.
I While the trade in general does not
take seriously to reports received re-
garding insect demage, responsible
people in Oklahoma assert that green
bugs are making inroads both in wheat
and oats, and that they will seriously
reduce the crop unless the weather
turns unfavorable for their propaga-
ton.
~ Corn-The May delivery was sup
ported by the leading long interests
and held a little premium over the
July. There was pressure on the lat =
ter months from longs and from
spreaders, who were buying oats and
selling corn. The cash demand is re-
ported dull but fairly liberal quantities
being loaded out of store for shipment
to the seaboard. Kansas City reports
q good demand and little pressure
Oats-The relative strength Of oats
futures, as compared with cash. ap-
pears to be accounted for by the fact
that country holders instead Of SELL
Ing their cash oats when the market
was high, sold the futures They are
therefore short standard oats and long
the lower grades. which are still in
the country to he marketed. The ac-
ton of the deferred deliveries will be
governed by crop reports, most of
which up to the present time are fav
orable.