Grand Forks daily herald., 1916-06-29
MARKET NEWS

the last. Trade was at no time heavy
and sentiment was SO bearish that
over-selling resulted on every de-
cline. July liquidation carried prices
down to a quarter of the seasons
low. rallying one cent from there.
Elevator interests bought July and
sold September Ia different, making
vesting conditions in southwest have
improved and threshing returns in
Oklahoma show fair to good yields
Of good quality. Conditions in the
northwest more favorable. Export
business continues mainly in Mani
TOBIAS with a little inquiry near a
working basis on hard winters. It is
take profits when in sight on either
side. ~
Corn--Although corn was heavily
sold early and prices lower. reacted
soon as pressure was removed and
touched the highest point in the last
hour. Local interest took July. Sep
tember and December at times, fore
Ing early sellers to cover. Country
for immediate shipment and fair
sales made. Weather conditions have
improved and weekly government
crop report was taken by the trade
as being more favorable. especially in
Iowa. Complaints come in, however
about 4 lack Of heat and backward
growth. We believe in higher prices
for corn.
oats-oats were depressed at times
with wheat. The crowd is ignoring
the buying OF July by exporters and
strength in corn market and closed
strong. Short side does not look good
at these prices and with corn so
strong.
Provisions-Active with lower av-
erage. The United States government
bought 100000 pounds bellies yes
buyer Of meats owing to increasing
number Of men going into the army.
There was disposition to take profits
on provisions and the market felt It
some.-R. P. & Co.
New York-Wall street opinion in
clined more distinctly toward the
view that the market had about
struck an approximate balance be-
tween opposing factors at the current
price level and that in due time might
be able to make an improving re.
sponse to the constructive conditions
which exist in trade and Industries
and the money market conditions
which cannot be very detrimentally
anected by an outcome Of the Mexi-
can crisis Reports in circulation yes
terdAy indicated a good deal Of activ-
ity at Washington in the direction Of
contracts for military materials and
supplies.-The Sun.
New York-It has been indicated
several times during the last ten days
that the avoidance Of war would be
welcomed by the market Just as it has
been shown that the possibility of war
has been feared by the market. Here
again the narrower view Of the mat
ter prevails or else this market opin.
Ion would have to be regarded az In
conflict with the view widely held in
the most important banking circles
that the clearing up Of the Mexican
situatton would help the general out
look instead Of hurting it-The
Liverpool SPOT wheat unchanged to
one higher. Corn unchanged to 2 1-3
higher. On passage, wheat unchanged
10 / 1-2 lower. Corn lower to 6
higher.
Argentine estimates: Wheat 1,soo,-
| 900 bushels; corn 100000 bushels.
Liverpool wheat dull, demand quiet.
Mills supplied large and export offers
In buyers favor. Cargoes quiet, win
ters unchanged. Manitobas 1l-7
lower. Native offers smaller, foreign
errtvals liberal but tendency to hold
distant offers more firmly in all ex-
porting countries, but reserves every
whore are excessive and this fact de,
ters purchases. Corn arm with spot
advancing especially for plate and
parcel market firm: good spot demand
from Ireland and arrivals limited
Parcels irregular, Americans lower
| mates 6 dearer. Argentine weather
favorable. 1t being exceptionally cold