The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-08-05
PRICES OF CORN
SHOW WEAKNESS
Market at Closing Is. Close to
Lowest Levels of Day and
Liquidation Is Heavy.
OTHER GRAINS ALSO FALL
Provisions Show Little Vigor
During Session-Cash
Market Light.

Corn prices we're yesterday weak.
Hreaking twice. The close was near the
days low levels. The market opened
Il a decline and broke to 8 cents later
n the morning. Options recovered, and
u the early afternoon sold up to the
days high marks, but again broke
toward the close. Economic conditions
once more overshadowed all other rae
tors The large amount Of unrest IN
labor circles and the ever increasing de-
rnand for cheaper foodstuffs kept the at
tention Of the trade. There Ii feeling
backed up by reports from washington,
that the guaranteed price Of wheat Will
Be lowered. The committee Investigate
inx the high cost OF living will make It's
report this week, and some Federal ac-
ticn IL expected to follow Il. Every
Ching points to reduced prices In COM
nodities. 1t Is felt that the price OF
corn Is still too high and that there will
be further drops. 1t Is true that the
market is in better technical condition as
The result OF the break, but sentiment Is
bearish.
y Liquidation was heavy and active, ana
there was selling on the weaker tone IN
the securities and hog markets. Crop
conditions over the week end were more
ravorable, wires which told OF benencial
rains being received. Many stop loss Or
ders were, uncovered on the downward
Journey, but so rapid was nuctpation
that IL was difficult to I'LL many OF them.
Prices during the early break siumpeo
~ cent to a cent between sales. sup
port was light, and what little there was
came from the shorts. The cash market
was weak, principally due to small re-
ceir,ts Commission house buying ana
faik. Of large export inquiry caused the
rally with some covering, options as
c<nding rapidly Later In the afternoon
another selling wave struck the market.
belief being that the export inquiry nao
been exaggerated, and because OF re-
newed liquidation.
u aFhe break in corn Influenced oats,
which were weak, breaking 3% cents
to s% cents. Support was light and
forced selling heavy. The cash oemanu
shows IMPROVEMENT Some buying came
into the market, causing a recovery on
yhe cheapness OF the cereals, oats being
81 under corn. and on claims that a
good export business had been worked
M. stocks are large, and some thsik
that with a smaller crop there Will be
isufilcient supply. Oats followed the
other grains and broke again In the AZ
.tcrnoon. closing near the low prices. Pro-
visions also were weak tnroushou.'
breaking sharply. The clamor for re-
duced prices caused pork to decline $1.75
A barrel and lard 2 cents a pound. Ex-
mort and cash demand were slow.
Local grain, &C., quotations OF yester-
day follow:
IL CORN-Iocal cash corn was = to DC;
lower at the West, but locally was helo
istendy with No . yellow quoted az
S2Oek and No. . white f2.13&, cost ana
freixht New York. Futures closed on 10
&c. net lower.
Z OATs-The cash market here was weak,
with No white quoted at ~ @ Sac No
3 white, SIN sac; No. WHITE eoA
sec, all elevator.
n nYF-Narket weak; No. Western,
si8ih, cost and freight New York
= BARLEY-Market weak; feeding. LAO;
mating. ,1.43, cost and freight New fprk'
BUCKWHEAT-Msrket arm: sound mill
Ing, $40 o AGO, cos and freight New YORK.
HAY-Market steady; No. !, sag 2oe
No. 2. s1.S561.e5: No. Q, $Io9VLoo;
shipping, 31.3oQ1.4o.
= sTRAw-Market quiet: No. 1 rye. s14
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