Grand Forks herald., 1917-03-29
MARKET NEWS

traders are working on the bear side
of all grains. especially wheat and
corn. They are selling on sharp bulg-
es and buying on declines their be-
lief is that the high level of values
makes the market susceptible to peace
rumors, weather conditions and other
factors which create selling move
ments. With some of the bulls ner-
vous and disposed to take profits on
bulges they regard the bearish posi-
ton as safest. Bull leaders in wheat
and oats say there is nothing but tenn
ing on all declines. Leading holders
Of corn have reduced their lines more
than so per cent within the last week.
Had it not been for their heavy
offerings prices might have advanced
faster and further. A few bulls be-
lieve that the highest prices have not
been reached, they say stocks in the
values permanently.
Bears have predicted that each day
for the last week. while the highest
only see new levels made. The new
rule posted proposing a change in
commission rates for cash grain at
Chicago to percentage is opposed
| by the minority of the committee.
They think it unadvisable from all
standpoints. A board of trade MEM
bership sold for $500 net to the buy
er yesterday.
Liverpool. March 2s.-wheat firm
with demand fair and arrivals mod
crate. Continent absorbing export Of
fers with stocks light.
/ Corn strong with lighter arrivals
and a good consumptive demand.
Argentine advices continue unfavor-
able and American offers strongly
held.
Oats very Arm, consumption is lib
| eral and arrivals light. There contin-
ues good, demand for spot at strong
prices. American and Canadian sup
plies liberal, but; shipments moderate.
Native offers of wheat light as the
weather isnbad and foreign arrivals
small. 7Tf u "a -
Argentine shipments. Wheat. l.
5000. last week. $4,000, last year
! 2,480,000; corn. $4,000, last week. 49,
! 900, last year. $4,000.
Argentine weather continues dry in
the south; in the north where gather
ing of corn is on, the weather is un-
settled with heavy rains in parts.
Damage reports to corn continue.
Holders Of all grains nervous and
| wheat holders inclined to take profits,
fearing further government ruling.
| BrOomhall says there undoubtedly
will continue a fair demand for Amer
lean grain during the entire season.
orally, but much difficulty is being
experienced in shipments and recent
government action in Argentine has
further complicated the supply situa-
ton.
New York. March 29.-There are
few who have any doubt that war is
ed today with the suggestions which
have come from some political quar-
ters that there is no need of the
United States doing anything more
than adhering to its present policy of
armed neutrality.
| 1t will be easier to explain the
raise in prices If we take special note
of fact that the volume of trading
| showed further collection. The gains
made did not come about as a result
of aggressive buying such as might
absorb a heavy volume of selling and
at the same time carry prices for
ward. There was no heavy selling of
that sort. 1t took little buying to put
prices up because there was very lit
| tie selling. Traders were must inn
pressed with the absence of liquida-
ton which many had assumed to be
likely in the last few days before the
convening of congress. It was argued
that the holders of stocks, II they
were disposed to sell balance Of the
possibility Of war between the Unit
ed States and Germany would hardly
wait until after the war had been de-
clared. That is not the way of the
stock market. It is certain that II war
comes it will not be surprising that
| traders bought on the theory that
owners Of stocks were not disposed
to sell on the practical certainty of
war they, would sell on the news of
war ITSELF.