South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-06-03
LOCAL AND FOREIGN MARKET QUOTATIONS.
WEEKLY REVIEW BY
THOMPSON & M'KINNON

WHEAT: Beyond unseasona bly,
cool weather in the northwest and
strength in coarse grains there was
nothing 10 account for covering
movement which started in wheat.
in other markets as well as here.
New sellers could not be found.
market apparently cleaned up of all
minor holdings. Nothing heard of
expert business.
CORN-Covering movement Of
yesterday in corn was renewed to-
day. being stimulated by unseason-
able temperature, smaller receipts
than expected. and a comparative
sCram BILE on the part Of cash buy
ers Market encountered liberal
realizing by yesterdays buyers but
the demand was insistent. one east
ern house being very prominent.
Private estimate of new crop acre
age is 124.OOO.OO0. This estimate is
about 5000. 600 larger than the es-
innate given out yesterday. Export
demand was in evidence at the sea-
board. volume Of business restricted
by difficulty in securing offerings.
no. 3 grades Of cash corn on spot
are Is - and No. grades IA over
July.
OATS-Shorts in oats were not
disturbed TO any extent. volume of
trade being quite limited. Cash
houses were buyers of the July i'm
a small way and export business
was reported by New York De
mand for cash oats fairly good. for
mer premiums maintained.
PROVISIONS-Rib in demand
from packers brokers. it being un-
derstood that Belgian relief orders
we're larger than had been antici-
pated. Lard was in less demand
and was under pressure from
spreaders, lard being sold and ribs
bought
Nine thousand hogs 5 to 1Oc
higher.
COTTON-The buying movement
was resumed this morning and new
high levels were soon established.
Sufficient profit taking brought
about a quick reaction of moderate
proportions.
The market is still under the in
fuence of the government report
but we are rather inclined TO the
opinion that this will lose its force
from now on. and more attention
will be paid 10 the weather from
day to day. Since the 25th of last
month. the date on which the re-
port was made. weather fairly sea-
sonable and some improv ement
should soon be noted i'm conditions.
We feel that the period for profit
taking is at hand and would take
advantage of all strong markets 10
liquidate.
STOCK - While higher prices
were noted in a few instances, the
general tendency today was reac-
tionary, the usual week-ending
proft-taking. Exchange holiday on
Tuesday and rather disqUieting
news from Russia being the chief
Influences, restraining new buying
and, no doubt, leading many traders
10 take the precaution of tightening
their commitments. So far as do
nestle conditions are concerned
there eah be no question but that
id rate Profits Of the various cor
porations will be large The gov
eminent war loan will probably be
well over bscribed. The bearish
element. which should not be lost
sight of, is the foreign situation.
While il is generally conceded that
we are in the midst Of a bull mar
ket. with higher prices ultimately
assured. the advance that has oc-
Cured has temporarily weakened
the technical position Of the mar
ket IL surged from Influential
quarters that profitstaking on
bulges would be advisable as inn
portant recessions may be looked
for.
THOMAS & McKINNON.