Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1916-08-02
PRICES SOAR ON WORD OF Elk.
cEaslNE LOSS TO CANADIAN
~ FIELDS. y
lVERPooI cA4LE9
!, ~ FHow HIGHER PRICES
Predictions Of Hot Weather Tend to
oNo Corn . Lift-mproved Export
csH Strsnathens Oats-Deerease in
Hedging Sales Note+Pro~isions De-
cline With Hog Values.
~

Chicago, Aug. 2.-Announcement that
thousands Of acres in Manitoba have
been 30 badly affected by black rust
that they would not pay the expense
Of harvest, led to q rally in wheat
prices here today. Damage beyond
precedent was also reported from the
Dako<as and Minnesota Bullish sentl-
ment, too, received further impetus
from higher quotations at Liverpool
and from signs OF decidedly more ur-
gent export demands at the gulf OF
Mexico. Opening prices, which ranged
from * to 2b cents higher, with Sep
TENDER at S1.25% to s1.2S and Decem-
Der at s1.2sA to $1.30A, were followed
by additional sharp gains.
According to q leading authority the
total yield for the Dakotas and Min.
nesota will not exceed 5000 bushels,
altho the government estimated on
July l that the yield in these three
states would amount to 100000 BUSH
els. Highest prices of the day were
reached in the last fifteen minutes.
Black rust was reported in the SaS-
katchewan as well as in Manitoba.
After gains Of rs TO ~ in September,
the market closed excitedly, SIS to SIS
to Sh net higher, with September at
1.3Oss and December at 1.342s to 1.34z2.
Corn.
Predictions Of hot weather gave corn
q lift, After opening Is and Z TO q
and cent higher, the market reacted
little, but then rose to a greater extent
than before.
Wheat strength tended afterward to
sustain the advance. The close was
firm at gain of l Is to IA cent net.
Oats.
Improved export call strengthened
oats. Hedging sales showed consider
able falling oil,
Provisions.
! Lower quotations on hogs carried
down provisions. The monthly state
ment Of warehouse stocks had but little
effect.
Daily Grain Letter.
FURNISHED by Lamson Bros. & Co., 2os
Masonic Temple. Phone 1891
Chicago. Aug. 2.-Wheat-Conhrm
ton Of serious damage to the growing
crops in Canada and reports of still fur
ther reduction In the indicated yield in
our northwest brought new buying into
the market and covering by shorts.
New high levels were made and held.
Even at the advance. export business
lieved that foreigners are further pro-
viding for their needs by buying our
futures.
Corn-Prospect Of a return Of hot
weather over the greater part Of the
corn belt caused the market to open
tstrong and advance materially over last
fnightie close. The trade in general re-
fuses to believe that serious damage has
been done by extreme heat and drouth
and volumtnous selling appears on mi
NOR bulges. The territory most affect
ed by recent unfavorable weather pro-
,duced the surplus last year. Where
conditions are better, there Is little or
mo old corn.
| Characterization that the weather in
the northwest. which has hurt wheat
has had similar effect on oats added
life to the oats market, shorts being the
best buyers. Export demand is good.
- Chicago Grain cIose.
Chicago. Aug. 2.
;, Whea&-No. red mixed, 1924: No
3 red and No. 3 hard, new, 1880
1.31A; No. 3 hard, new, 1.21 31.293s.
| Corn-No. g yc.:c", s2@ s2a. Nc.
white, 81 @s2; No. 4 yellow, s1A @s1k.
oats-No. 3 white, 41942; standard
AK @421s.
, Range Of Chicago Prices.
T, Chicago, Aug. 2.
/, Wheat - September, opened at
i1.25 Is; highest 1919; lowest
f1.25 Is; closed. 1.30ts; December;
tDpened at 1894: closed, 1.35.
Corn-September; opened at 7s%;
fhighest, 79A: lowest, 1888: closed