Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-01
Grain, Produce,
Cotton Markets.


CHICAGO. February 1.-Germanys
move for unrestricted sea war caused
far greater effects on the wheat mar
ket today than did the first opening OF
hostilities or any event since. An ex-
treme break of 15A cents in values
took place in the first minute of trad
ing. and excitement was at such pitch
that transactions Z cents apart were
made at the same instant in different
parts of the pit. Rallies of &c from the
lowest level reached at the start were
made by wheat within FIVE minutes
after the opening, and although wiid
fluctuations interviewed in the next
quarter of an hour. 3 cents more OF
recovery was shown.
Fresh declines, however, then en-
sued. The rebound from the initial fall
was generally attributed to profit, taxi
ing by raders who of late have been
plunging heavily. on the. bear side of
the market.
AT the worst of the collapse of wheat
prices the market was off 39s4 cents a
bushel. as compared with the highest
quotations attained during the war.
ma imum of ] .9jA for Nav delivery.
Opening prices today ranged all the
way from y to 1514 down., as compared
with yesterdays finish, May starting at
l.56 to 1863 and July at 1856 to LAO. On
the succeeding rallies in the first half
hour May rose to LES and July to LAP.
but new declines of cents or more fol-
lowed. s
Coarse grains took downward p1unges
| less sensational than wheat Corn was
not affected as much as oats the former
falling "a cents and oat is 55s cents. On
the other hand. neither corn nor oats
showed rallying power equal to wheat
After opening 2Hs to 47sc lower. the
corn market mounted slowly to q to
/ u C above the. top of the initial range
Extraordinary -tumbles were Wit
messed in provision prices. Pork
dropped in some cases S325 a barrel.
Lard and ribs varied from 1Tk to 80 u
| cents lower Trading in provisions,
though. lacked the huge volume that
was seen in wheat. In most cases the
recovery of the provision markets was
relatively small.
Raw sugar unsettled: centrifugal.
4S9: molasses. 4.02; refined quiet; fine
graduated. 8. 15. as
Sugar futures were unsettled by the
German note and under rather heavy
general liquidation prices showed loss
es of 6a10 points nj midday.
Announcement that after having been
tied over night traffic today was NOV
ing in and out of New York harbor
helped to steady the wheat market, but
nervousness was renewed by word that
railroad embargoes We're spreading and
by messages from Washington giving
pessimiStic views as to relations be-
tween this country and Germany Con-
sequent nsetbacks in prices. however
did not again become of anything like
81 iduicdi Il HdtuTe as was the case al
the outset. The close was unsettled
is to M net lower, with May at 1.63 II
to 1.63A and July at 1.4119 to 1.41B.
Selling pressure increased about mid
day. when Washington reports seemed
gloomiest The corn market, though
Welded only to 4 relatively slight de-
gree and closed firm at 23s to %. net
decline.
Wheat--No.. 2 red. nominal: No. 3 red.
1.63; No. hard. nominal; No. 3 hard.
1.64.
Corn-No. 2 yellow, 96Aa97: No 4
yellow, 93a95ai No. 4 white, SASSY.
Oats-No. 3 white, 81 Ha53. standard.
52a53.
Rye, nominal; barley, 1o0a1o7; tim
othy, 3.5oa5.00: clover 12.00a11.50: pork,