The sun., 1919-08-06
VALUES COLLAPSE
IN GRAIN MARKET
Corn Has Most Violent Break
Since Signing Of Armistice
in Last Hour.
OATS ALSO OFF AT CLOSE
Provisions Are Quiet, Without
Feature, Due to Weakness
in Other Markets.
OATS ALSO OFF AT CLOSE

One or the most sensational and vio-
lent breaks which the corn market has
seen since the signing Of the arrnistice
came Yesterday in the last hour of trad
Ing. The trade was demoralized. with
prices simply coilapsins and declining
IN cents to 10% cents from the days
high. Not only did the options lose the
gains which they had made earlier In
thu afternoon. but went to new low f]g-
ures for the day. Fluctuations were
wide, dropping q half cent TO q cent a
bushel on a sale. Prices fell 90 quickly
that Il was impossible to fll many OF the
stop loss orders which were uncovered
on the way down. The break was at
trfbuted to the belief that the conference
between President Wilson and Julius
Barnes, grain administrator. would re-
suit In reducing the price Of wheat. The
investigating committee. which had been
looking into the cost Of necessities, re-
ported yesterday at a meeting. but moth
ing was given out II was the general
consensus Of opinion that the report was
bearish, as the President ana Congress
arc epdeavoring to find some remedy for
the situation. even sidetracktng debate
on the peace treaty.
Tho market was an unsettled one, The
OptIllHB was WCdht OpllOho oNAAsA8 VII VI
renewed liquidation due to economic
conditions and favorable weather. But
little attention, however. was given &c
the weather and crop reports. Pressure
at the outset was not as heavy as ir
the last few days. as the market quickly
became oversold. Shorts were forced tc
cover and futures gradually assembled
reaching the best prices OF the day ir
the early afternoon. when they were Ut
| 2 cents to ga cents a bushel. The oasf
demand was slow, with receipts snsll
Argentine prices broke sharply, accord
ing to cables received here. but they hat
little or no effect on local conditions
Stocks in this country continue to de-
crease, as Is shown IN the visible supply
Oats followed corn, opening weak
steadying and declining cents a bushe
at the close. There was considerable
scattered liquidation and professions
pressure at the start. Commission
houses bought and the shorts covered
sending prices up to the best levels Of the
day. The buying was on talk that goot
export business had been worked up II
the last few days. Provisions were dul
and featurelese, with some selling. due
to weakness in hogs and grains In th'
early part. Along with the grains pro
visions rallied. only to slump back. Porl
| dropped $3.50 a barrel
Local grain. &c. quotations of yester
| day follow,
| CORN-In the local cash market No.
yellow was quoted at s2.o4h: No. white
S2.0sn cost and freight New York.
| OATS-In the. local cash market No;
white was quoted at 81 q SIC. No. whits
sonslc.; No white, 7s9soc. all nom
| inal elevator.
| RYE-Market weak. No. . Western
;i.5:. cost and freight New York.
BARLEY-Marltet weak. Feeding. SIss
| mating. s1.2s, cost and freight New York
| RECOMMENDATIONS steady. sount
milling. s4.4o 946O. cost and freight New
., York.
! HAY-Marlfet barely steady. No. 1. 50
zoo: No. .. sl.s5@1s5; No. .. t.Sb 91.6s
| shipping s1.3091.io
sTRAw-Mnrket steady. No. rye. 81