The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-11
FURTHER DECLINE
IN OCTOBER CORN
Peace News, Heavy Shipments
and Cash Situation Again
Cut Price.
OATS SHOW WEAKNESS
Drop in Market Value Of Other
Grains Leaves Wheat Alone
on Pinnacle.

ine preuictlon rev Jays ago whS
for dollar corn in Chicago. october
corn has already declined So cents
from the high point OF the season. and
again broke heavily yesterday on the
continued peace news. the heavy move
ment and the cash situation. Oats were
also weak. A little study Of the rolative
prices would DO OF interest at present, In
the days OF efforts to fix one price In
relation TO another. As far as feed
grain 10 concerned this seems to be aban-
doned. Compared with the prices which
prevailed last spring the conditions are
30 different that II 10 extremely difflcult
to reconcile the situation. Then, with
wheat at S2.20 in Chicago, rye sold at
$a.sB at the high point, barley at S2.4b
and oats ut s5hc.. while corn at the
same time sold at si.7s. and at the high
point in the fall was At sf.27. These
prices represented. at the high point. a
pound, wheat, 3.66c. corn. 4.05c.: oats,
s.sso rye. b.27o.. and barley, 5.1oc,
With the revised wheat prices wheat iB
on the basis of 3.76c. a bushsi In Chi
oago and the price OF corn at yesterdays
basis was 2.2ac. a pound: oats, 2.47o. !;
rye. 1900. and barley, 2.02c, Dollar
cash corn would be 1870. q pound.
leaves wheat OF, n pinnacle by itself.
1t u quite possible that the decline In
values for other grains will mean that
the country win hold these grains and
sell wheat. On the basis OF food and
feed value the other grains are away
below the price Of wheat, and excepting
In some limited localities Of the South
west and intermountain territory feed
grains are cheaper to feed than wheat,
which was not the case during July.
August and the early part Of September.
AZ regards hogs, the decline In corn
to basis Of say Sis In Chicago means
on tho basis Of the Chicago price Of
10 to l for hogs an average Of about
s11.50 for the hogs. The corresponding
price of corn In the country would bring
the price. measuring the hog price In
Chicago by the corn price In the eight
hog States selected, at about 10 to I.
Al the present price Of hogs OF about
SIS in Chicago this would mean q great
decline in the price Of hogs and unless
there Is radical recovery In the price
Of corn the break In corn will mean that
the proposed minimum OF $3.50 for
hogs will be from So to - over what
would be the normal price by midwinter
based on the value Of the corn, even
over q period of four or fve months
Noth Wobia to&e hbVuA
10 to 10h Nc. q pound in Chicago.
CHICAGO, Oct. 10.--Tresh indications
OF an unconditional surrender by Turkey.
together with many other bsarish Euro
pean Developments, brought about new
smashss to-day In the value of grain.
Rallies were numerous. but for the most
part failed TO held. Corn closed un-
settled. $40 sst lower to half ad-
vance. with November s1.12N to S1.12H
and December $i.1oN TO, 1l.11%. Oats
finished nc. down to &c. up, and pro-
visions or soc. to ~.
Corn started with a severe break, due
chiefly to the forward sweep OF the En-
tente armies beyond the Hindenburg
line. Rumors that the German Emperor
had abdicated gave further emphasis to
bearish sentiment. and 30 too did talk OF
n split between Austria and Hungary.
Uncertainty as to the nature and time
OF the German reply to President WILL
sons note. however. tended to induce ef-
forts by shorts to collect profits. Rapid
fluctuations that followed gave ample
evidence OF extreme nervousness on the
part OF majority OF traders, but in the
end the advantage remained with the
bears owing principally to the focus
ing OF attention on the likelihood OF q
Turkish collapse.
Oats swayed with corn. although
steadied somewhat by improved domes-
tic shipping demand.
CQRN--Nsw low levels were again
established in the corn market when
prices declined about 4 cents q bushel
early in the day under renewed pressure.
1t was said that farmers are offering
more freely and that country holders
were hedging against the grain they had
on hand and were unable TO soil. In the
local cash market No. Q yellow corn was
quoted at S1.82. No. 8 yellow Sls2, cost
and freight New York.
OATS-The local cash market was
weak; standard was quoted at 7S1ac
No . white, 7Sc.; No. ! white. zee; No.
Z white, 7she.; ordinary clipped white.
SOC. all elevator.
RYE--Market Arm: No. Western,
S1.7T. elevator export.
BARLEY-Markst easier; feeding, Si.ii;
milling, Sl.l5.
HAY--Market quiet: No. l, te.to01so;
No. 3, $3.50 @2.35; No 3, s2.20Q2.30