The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-07-13
CASH GRAIN BIG !
FACTOR IN MARKET
Corn Has Advanced About 3;
Cents a Bushel on July :
Delivery, :

Cash grain has been the leading nc
tor In the market aside from the DER
vousness Of the trade over the possiblii-
ity OF favorable action on the $40
wheat pill. which the President VETOED
yesterday. From the, low point OF lime
corn has advanced about 33 per cenE a
.bushel on the July delivery. and cash
corn has advanced 80 to 40 cents--a
bushel The advance has been accom-
panied by a very good cash trade and
it has developed that Eastern mark{1s
were unexpectedly short OF supp)feS
Stocks have been light. SO that buying
easily cleaned up the surplus oner-
ings. The advance has, however.
brought quite marked increase In the
movement which 10 noticeable in all
grain. The receipts Of corn have been
stimulated by the higher prices and
have gained 100000 bushels at West
ern markets this week compared witir q
year ago oats have gained 100000
bushels and wheat receipts have gained
200, 900 bushels. A report that ship
pers have been requested by the railroad
authorities to move grain had influence
and will undoubtedly mean the further
increase in thet movement from the
country.
Reports have been ipsistent that farm
ers were disposed to hold back wheat Oh
account OF expecting to get $40 IN
stead OF So. but there has really been al,
important increase in the movement at
country elevators and at terminal mar
kets. indicating that not all farmers ARD
profteeriRg. 81.
A factor of great Importance developed
yesterday in the news from the Cana
dian northwest OF quite general Tains
In n greater portion Of the CANADIAN
northwest, and also in North Dakota.
=.
CHICAGO, July 12.-Keen demand from
millers. together with prospects of cur
tailed receipts. made corn soar to-day,
but a material setback ensued after an
nouncement that President Wilson had
begun drafting a veto OF the bill to sn-
crease the Government guaranteed price
Of wheat. The close was nervous, IN
to 2L, net higher. with August $1.6l n
to s1.61h, and September $1.61is. Oats
gained half. to rs, and provisions 8 to
10c.
Eagerness to buy corn seemed to be
based largely on fear that the bill to
establish $40 as the minimum price OF
wheat would automatically become
law. AS in such a case. according TO
some authorities. the cost of wheat -four
would be virtually prohibited for
ordinary consumers the view seemed
logical that the use OF substitutes, es-
pecially corn, must broaden out big.
Scarcity of good grades of corn and the
fancy prices being paid for them. tended
also to create bullish sentiment, until
definite knowledge was obtained OF the
forthcoming veto and to n likelihood that
attempts to override the veto would
fail.
inf r..
ishly affected later both by veto news
and by rains over western Canada. ".
Modern Mailer said that wheat yields were
running light the only exception being IN
Oklahoma Kansas showed both heavy
and light yields and viii produce close to
1000, 900 bushels. Ciearances for the
week. as reported by Bradstrtefs. we're
s,ols,Ooo bushels, against l,22Aooo bushels
week ago Mills at some points were
reported TO be paying premiums over the
minimum prices established by the Dow
ernment. go
CORN-Shopts were such large buyers
OF corn in the first hour yesterday that
prices advanced all the way from ~ 10
) cents per bushel. The higher levels,
son. attracted much selling, however. and
good part of the advance was lost. final
prices showing l to %. cents net rise.
There was strength in the local cash mar
at s2OSa. md do. No. yellow. si.ssx.
cost and freight New York.
OATs-Almost equally sharp was the
rise in oats. July being cents n bushel
and other months about . cents higher,
from which there we're later sharp reao-
tons. 20 that hral prices were only u to
II cents net higher. cash oats were nrm
here. standard being quoted at soc; No. =
white. SOC: No. white, S9lf U zoe; No: I
white. $50 s9C.. fancy clipped white.
30 a n csc. ordinary clipped white, ssh
q 90isc. all elevator. -
RYE-Market steady. NO. 2 Western,
si,s6, cost and freight New York.
BARLEY Market quiet Feeding Sl2N
a %, and mating, f.S0IlS5, cost and
freight New York
HAY-Mnrket Hrm, No. /. .i45oi.to.
No. :. 81. 500 40, No. y, tlail5.
Wheat. including -four, exports for the
week, according to Rrddareets aggregate
S.0i2ssS bushels, against l.22il53 last
week and S,Gi7,"2n last year, since July l,
4.23slIs against ltO57,07g last season-
corn exports for the week, 477,3i2. against
4jd.h52 last week and 973.s3l last year
since July |, sS:,l75, against l.iOit7S last
season