The sun., 1918-07-18
NEW WHEAT OURS
INTO FLOUR MILLS
Movement So Heavy Grain Cor
pOratiOn Has Been Offered
Some Of Harvest.


The wisdom Of increasing the capital
stock OF the Food Administration Grain
Corporation from s5O,00o.00O to $780,
100000 Is already beginning to be
shown. Within two weeks of the open
ing of the new crop season. so heavy
has been the movement Of new wheat
that premiums on cash wheat have dis
appeared. and reports from the South
west are that wheat has already been
rendered the Grain Corporation. At the
East the premiums have rapidly disap-
peared and the possibility of delivering
to the Grain Corporation very shortly
are increasingly strong. That the pre-
miums should disappear so quickly has
been great surprise to the trade.
which anticipated a position OF milling
demand such as would absorb every bit
of wheat available for at least
month 1t Is not thought probable that
the deliveries will be heavy enough to
be a burdensome factor for while. as
II is believed that the Allies would gladly
ship all the wheat they can get in July
HuSust as 10 lldllllhill dUlplt
supplies Of foreign wheat for mixing
with their own crop before their own
new wheat moves in volume.
The amount of business which the
Grain Corporation will do this coming
year is expected 10 be very large as
it Is understood that 1t will act as the
export representative in all business
in wheat and -four for export. When
the Allies are In the market for -four,
or any other demand is in the market.
It Is expected that the Grain Corpora
ton will supply the wheat or -four to
the extent agreed upon with the Allies,
and to the extent OF the exports per
mitted to others. II the movement OF
wheat continues heavy from now on. as
seems to be the promise. II Is quite
possible that the amounts which will
be accumulated in the terminal eleva-
tors OF the country at the present prices.
and the handling Of a large volume OF
-four, will necessitate the using of a great
deal OF money in the handling and stor-
ing Of such supplies. Some trade opin-
ions have been expressed that stocks
Of easily a hundred million bushels OF
wheat will be accumulated.
CHICAGO, July lT.--Better crop condi
| tons together with the fact that whea
! premiums We're almost n thing OF tn,
| past exercised IA bearish influence TO-DAY
on corn. The market closed nervous. a.
| to nc. net lower, with August 81 co L
16OA and September sl60ls to 1907
! Oats gained y to lc.. and provisions {
| shade to 45c
Good rains over Kansas, Nebraska
South Dakota and parts of Missouri
inspired general selling at the outset IL
the corn market, and although stron!
rally ensued fresh selling pressure de
veloped and carried prices downward
again most OF the time the rest o
the day The temporary upturn wa
ascribed to advlces indicating that ship
ments from the country would be sharpl.
curtailed. On the other hand mucl
notice was taken OF the fact that No
red winter wheat was now selling her
at the Government guaranteed minimum
and that millers refused to pay more
In this connection it was said that tn
Southwest. where the wheat harvest ha
been finished, led the late selling @
corn.
Wet weather delays to cutting an
threshing gave strength to oats. Their
were also bullish crop reports fror
North Dakota and Canada.
WHEAT-The new season in wheat
now fairly under way and with large
receipts at primary points business opera
tons are becoming more active. unde
local grain trade. which was excluded fror
the handling OF wheat last season, will b
allowed more latitude Owing 20 the pric
on the handling Of wheat is very mario
and at the present time operations al
the trade is not yet thoroughly assure
; that It can do business at q proh
The Grain Corporation OF the Food Al
| m n at ration stands reaiy to absorb Offer
: New York. ,286ls FOR No and .232
for No. 3. Recently some export businei
s MHu ,sss track New York to s srTiy
which allows ! "a cents a bushel for all e.
penses involved, including interes. charg'
: and profits,
/ CORS-Market fever!sh throughout DIS
and after quick fluctuations both ways Il
close showed net losea OF sc. to ~
over the nnsl of Tuesday, but on Il
whole the undertone was easier. TIL
seemed to be due to larger offers from q
country, especially In the Southwest, whe
farmers were said TO have been influence
. by recent rains which have very material
improved the CROP outlook, In the Ice
corn was quoted at SISSY, and No,
yellow, slss. cost and freight New Yor
OATs-Local cash demand was slo
but prices we're STEADY; standsrd GH"''
white, sec, No; : white. S54 to $50
, clipped white. IS TO ssc., all elevator
, RYE-Market steady: No g wester
u 1856 cost and freight New York
BARLEY-Market quiet; feeding. 81.
to 81 80: mailing, 1h3O to 'l,s5, cost al
freight New York
HAY-Market steady: No. /. slt5
1850; No. ?. $3.50 to 'i4O; No. g.
CHICAGO PRICES