The sun., 1918-08-20
RYE ADVANCED ON
FUTURE TRADING
Buying Has Been Heavy, With
a Lack of Hedge Sales
in Evidence.
BARLEY CROP IS LARGER
Report States That New Rules
Are to Apply to Barley
Transactions. --

Within the last week there has been
inausuratsd at Chicago considerable
trading in rye for future delivery. and n
committee. II Ia reported, has been APP
pointed for drawing up rules and resula.
lions for trading in barley. The rye
market. partly as a result Of the interest
In futures. has advanced I or . cents a
bushsl, partly because there has been
considerable buying, Ana as yet not a
great deal of hedging on account Of the
movement OF the new crop. The crop
Of rye this year IL estimated at about
~ 000 900 bushels by the last Govern
ment report against 100000 bushels
last year. and pre-war average OF
S0.0o0,000 to $4,000. 900 bushels. The
movement OF new rye has not yet as
sumed any important proportions. and
until 1t does buying orders may be hard
to execute. The position OF rye IL some
what complicated. There Is likely to be
= considerable export business in rye
and rye -four, but even with a consid-
cradle increase in the export business
the stock OF rye available for domestic
use will be considerably larger than last
year. The last year, excepting for
short. panicky ADVANCE on the substitute
proposition. more ~rys flour. has been
pushed on the market than the market
could take. and unless domestic con-
sumption materially increases or the
exports materially increase there may be
considerable dffficulty In marketing the
made A substitute to the extent of per
cent. Of the substitute requirements.
In barley the crop IL estimated at
az. 100000 bushels. against 2Qs,000.o00
last year: to . certain extent the same
conditions prevail In barley AS in rye
there will be fairly liberal exports Of
barley. and possibly OF the better quality
barley -four. but tho domestic trade is
still shy about using barley -four and
will have to get accustomed to the new
quality flour all over again. With the
brewing demand for barley very largely
reduced and an increased crop. only the
expectation OF a large amount of barley
or barley flour would seem to furnish an
adequate outlet for the hour supply
unless the -four can be made Of quality
good enough to make a really desirable
substitute. The big crop OF oats this
year means that barley will not be
needed to mix with oats for feed. and
the prospect for a much larger crop Of
corn Of good feeding quality than that
Of a year ago indicates that there may
uOt Dc - nluCn Ioo0 QernaUu IOT UbFlcy
rs some have anticipated.
CHICAGO, Aug. 10. - Activity and
strength of provisions was the feature
Of Board OF Trade business to-day. Pork
futures registered net gains Of 40 to
soc. lard 10 t1|17hc. and ribs 37h to
+0c. The trade was impressed by an ad-
vance in live hogs at the stock yards.
where $50 top was registered. Another
factor was the export figures on lard and
meats, which while smaller the hrst
weeks were larger than a year ago at
this period. Shorts were free buyers and
the demand from packers moderately ac-
five. October lard closed at 26e4h ana
October ribs at 24s5. -
There was nothing in corn crop re-
ports to-day 10 excite trade, and ai-'
though the range Of prices embraced NC,
the transactions were local In character
and unimpresslve in volume An easy
tone at the outset was eliminated for a
time by the strength OF oats and pro-
visions. but the close found prices prae-
tically where they had started Septen-
Der closed asc. lower at s1.6lS.
Oats were fairly active. but failed to
maintain an early advance. At the open
oats as cheap compared with corn. but
on the advance cash houses sold Sep
TENDER. There was considerable chang
ing, too. to the deferred delivery at about
Nc. difference. Shippers were buyers in
the sample market, but there WAS
scarcely a nibble from th6 seaboard.
September closed M6h higher at 7o7s.
WHEAT - The movement OF wheat AT
primary points continues at q rate never
before experienced, ana the visible supply
last week Increased 600 bushels.
bringing the total to sf,7Seooo. compared
with 4,s+s.o0o a year ago. When It is con.
yet moving In volume 1t Is apparent that
q large surplus will be built up during the
balance Of this year Reports from Wash
the Food Administration are against the
proposed increase of 80 cents in the price
OF wheat for next season. %
CORN-The corn market was inactive
and the undertone wss easy price. closing
were small ~ primary points and the visi-
Bile decreased l,ss.oo0 bushels for the
week, bringing the total to G,752.ooo. com
local cash market fresh shelisd No. Q yei.
low wa. quoted at Sls5k; No. : yellow
si.ssS C. e. New York.
OATS--The oats market again showed a
nrm undsrtone, and while prices at the
above the nnal Of Saturday. In the local
| cash market standard was quoted at 80
70 10 7shc.: No, Z white, Ish to Zee,
fancy clipped white, siH to $40; ordinary
clipped white, TsH to sihc., all elevator.
RYE-Msrkst easy; No. . Western. $40
lie T. New York
!, YORK. XVI "'""'' '''' 10 ''''' C. l. Ne"
| HAY--Markst Arm No. !, tl.es to $40
No. ?, t.55 to 1870; No. 5, $40 TO s1.<s.