New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-15
Susie nc e
Cereals


Wheat-The market yesterday was
I'm a state of the greatest confusion.
Fol owing its action on Saturday, When
further operations in May wheat were
eliminated. the Chicago Board OF Trade
passed resolution prohibiting all new
buying of July and September for two
days and forbade all operations IN these
rcsitions above the closing level OF
Saturday. Shorts in May were m
tructed 20 settle by Wednesday ana
longs were obliged to accept settlement
~ the request of shorts on the basis
Of the prices agreed upon last week.
Many houses discouraged new opera
+icre in All the markets. and trading
during the day was largely in the form
of evening up contracts. With buying
entirely limited to the evening up OF
contracts and the efforts on the part OF
the board being plainly toward lower
nc values. the market was weak and
heavy and subject 10 erratic and rapid
fluctuations, values changing as mucn
as 4 10 cents a bushel within brle1
periods.
Final quotations were 1G TO II cents
hollow the final of last week. The UNI
usual and drastic action OF the Chicago
board was regarded here as heroic
effort 10 extricatc the market from
situation which i without precedent.
Present conditions were apparently
brought about by heavy purchases by
exDorters and mills. who bought con-
tracts with view of taking delivery
and thus taking off the market a great
quantity of wheat. This LEFT the mar
ket in n position where ordinary OPP
orators were working on small sur
plus. and a natural corner has resulted
The cash situation is strong and quota
tions in the local market were entirely
''''''' Yes'day's Prev's Year
New York. .s3.47 s3.46 s1.z9
Contract:
Chicago, May. .'.oa2
Chicago, July. 2.59 2.75 1.167s
Corr.-With all operations in May discon-
t;nueJ bv official order In Chicago. the action
~ The corn market yesterday was similar 10
80 az wheat under corresponding circum-
etances Saturday. Traders having hedge or
snreading interest fastened 70 transfer thelr
commitments 20 later deliveries. and the re-
e,,lt was a new high level all around, with
I,iv mn 10 81 .60i, and September 20 Sl.5i.
or 10 70 - cents above Saturdays close.
Opening transactions in September ranged
AN the way from Sl4- to >l.3-. Later IN
The day considerable realizing took place. IN
der which part o. the advance was lost, but
tbe clo-e was still 10 D. cents net higher.
The visible supply decreased l.u'lOeu bush
cls and Is now $4,000 bushels. against
III 400 600 bushels last year. The weather
,,.s fine for an field work and the heaviest
planting Of the season is now IN progress.
Yes'day's Previous Year
Cash. close. close. ago.
~. VI s176 Si.i 1874
Contract ..,, ..
c cRieasO. jug jug. 1852 i.l9si "a
ost..-The action OF this market almost
DUPLICATED that in corn. May oats we're
eiininated entirely from trade and the later
positions sold up TO 8 cents bushel on
heavy buying ia consequence. then declined
b--r,lv closing II 20 "a cents net higher.
Now. oats were offered In limited quantities
from Texas Tor June shipment IN Southern
markets but demand was said 20 be rather
LIGHT. Western crop acsioes were generally
favorable.
Ycs'days Previous Year
Cash: close. close. ago.
New York ..---.-- ~ '|o'2 81
Contract: -
Chicago. May. eo,. .ae55,2 .s5.s
Chicago. july. .es44 .e7y2 .l2ss
"''' '' Yes days Previous Year
New S"' York. bush $3.50 $3.50 .i.Os
Flour and Mesl.-Quotation were:
Yes'day's Previous Year
close. close. ago
Flour. Mimi. spg. patsie.75 $500 $500
~ -four. choice ..... 1875 1875 $50
Cornmeal. kiln dried. $50 $50 i.25
Bran, in sacks ..-..-. SOW 4f.OO 2-.2o