Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-07-09
EMBARGO AND REPORT
WEAKEN GRAIN PRICES
Bearish Crop Condition Aids
Presidents Action in Forcing
General Slump of Futures

GRAIN BELT WEATHER FORECAST
To- SSHtLtSAG0. July 0,-The weather forecast
in i,l.p'osmfalr n,'S tonight and Tuesday. showers
MIssouriI,Fsir tonight and Tuesday. show
Wisconsin - Fair tonight and Tuesday.
..,.IIII ,M.IlnIPe@sota-Fer $50 tonight and Tuesday. un-
!, Nebraska-;Fair, probably followed by thun-
io iGer shower. showers late tonight or Tuesday, warmer
ra Kansas = Partly cloudy tOniEhti unsettled
Iowa:-Fair tonight and Tuesday, unsettled
In west Tuesday.
rooS Morth DAk9tn--Ihunder showers this after
noon or tonight. warmer east portion; Tuesday
south Dakota-Probably thunder showers
tOhight or tuesday, cooler Tuesday.
CHICAGO. July Q.
Final corn prices were above the bottom.
The best on September was S1.56h, the
bottom S154& and the close S1.54A0
l,b4%, against Sl.56R at the end Saturday.
The top on December was S1.1S5h. the low
Sll6h and the final S117h di.16%, COM
pared with Sl1Sh, Saturdays last price.
The high on May was S1.17%, the bottom
H.l5ia and the last S1.16% 61.16L against
H.l7l9 at the close Saturday.
The high on July oats was &c and the
close at the bottom, 64hc bid, against 66c
at the end Saturday. The top on Septem-
Der was 55 Nc, the low 81 &c and the close
549s a 541ac, against 55c. the final quota
tiOn OF Saturday The best on December
was 57bc, the low 55%c and the close
56lR a 56$c, compared with SIC at the end
Saturday.
The high wheat on July was the final
quotation Of Saturday, S2.07 and the bot
tom 50 y, closing at S2O2 p the best
September was S1.93 and the close at the
low $1.90ia bid, against S1.94 at the end
Saturday.
More forcing weather, ideal for the crop,
in the greater part Of the belt. the an
nouncement Of the embargo on exports and
expectations of bearish Government re-
port induced heavy selling Of corn today
and weakened the market At one time,
however, covering and buying by commits
sion houses, influenced TO some extent by
renewed complaints Of drought and heat in
the Southwest, rallied prices. The gain
failed to hold. owing TO free offerings and
reports that exporters were reselling at
reductions from Saturdays figures.
The cash article was easier here, No.
yellow being quoted at Sl.S4ml.S5, against
$l.S6, the record price on Saturday. There
was also break at Baltimore.
There was an increase of $4,000 bushels
in the visible supply in the United states
to 3,793,0O0 bushels, Clearances from the
seaboard were small
The market at Liverpool was strong or
moderate worlds shipments and on con-
tinued unfavorable reports from Argentina
as TO the conditions of arrivals, which were
damp.
oats also were weaker on predictions Of
favorable report by the Government
Prices rallied well after the start on tht
belief that selling had been overdone, bu'
the market made considerable liquidation or
the bulge turning it downward.
Crop and weather news was good,
The market at Liverpool was dull and
easier on large shipments from America, re-
duced consumption in the United Kingdom
and liberal offers from Argentina. The
visible supply in the United States de-
creased 9O6 900 bushels for the week tc
| ss35, 900 bushels.
Culling has been begun in Illinois and is
expected to be general by the end OF tht
week.
Trade in wheat was slow and the mar
ket was lower under liquidation Receipts
at interior points were light and clearance'
moderate.
Minneapolis reported a good demand fol
| the cash article, with No l Northern quoted
| at $4,000 over July. The inquiry TO
| flour there is light.
Weather conditions were ideal for har
| vesting operations but too dry in part
| of North Dakota and Minnesota.
The market at Liverpool was dull ant
| steady Shipments from North Amertc;
| were larger than had been looked for, AM
| Australia and India are contributing freely
| The visible supply in the United state
| decreased 1872 900 bushels for the week Il
| 1851 900 bushels.