The sun., 1919-08-08

CORN PRICES ARE
WEAKER AT CLOSE
September Is Only Month to
Show Strength All Through
Irregular Market.
OATS RECOVER AT FINISH
Cash Market Is Dull-Unfa-
vorable Reports Come on
Average Wheat Yield.
OATS RECOVER AT FINISH

The corn market was yesterday Eerv-
ous and irregular, September alone
showing strength throughout. The mar
tet was firm at the opening. but the later
months weakened In the last hour on the
general economic situation and the cir
euating Of several unfounded rumors.
with the railroad strike extending and
other difficulties arising the trade was
not prone to look on the buying side.
There also was considerable appreheh-
sion concerning legislation which Presi-
Aent Wilson will advocate in regard to
food prices when he appears before
Congress- this afternoon. It In the gem
eraI consensus opinion that he will
uree the extenhon of food control to
other commodities. Rumors were plenty,
One of them that julius Barnes, Grain
Administrator. had resigned had a bear
ish influence on the market. There was
, large amount of evening Nup, not only
IN anticipation OF the Government report
Ais afternoon, but also by many who
aid not wish to hold stocks over night.
They believed that the situation was
frausht with too many unsettled dis
turbancSs TO carry their holdings. hence
their method IL to buy during the day
and sell out before the close.
gsptember strength was due to the
strike of railroad inspectors in the
10 examine the shipments, The car
shortage is becoming acute because, OF
the labor difffculties which the railroads
are experiencing. making shipments OF
cereals almost impossible. Then cash
corn Is selling high, not having had any
break with the futures. Early strength
IN the distant months was primarily
due 10 the reports of hot and dry
weather with some crop deterioration in
the Southwest. 1t was felt also that
Wednesdays upward move had not been
completed. but longs on the whole were
cautious.
Cnfavorable reports. on wheat are
made in advices from Iowa. where the
Weld is 1875 bushels an acre, compared
with 200 bushels. the acreage for the
last ten years. The yield Of spring
wheat is reported as 10.2 bushels,
against a ten year acreage Of 15.s
bushels Indications point TO crop
In the three big Northwestern states of
$50. OOo 900 to 100000 900 bushels
Oats were irregular, following corn.
and displayed firmness In the morning
only TO sell OF in the afternoon. Prices
did not decline as much as corn near
the close. They srecoyered before the
close on short covering. The cash mar
ket was dull but steady. Small country
offerings and predictions of light re-
ceipts caused the early uptnrn. Many
are OF the opinion that the Government
report wit be disappointment and that
foreign buying has been larger during
last week than has been reported Pro
visions, after q strong opening. with
pork selling. up Il barrel. weakened
later on light support.
Local grain. &C. quotations Of yes
terday follow:
CORS--Insthe local market No: yellow
was quoted al SALT: No. white. $2.2o
cost and freight New York.
OATs-In the local cash market No.
white was quoted at SEC; No white, &c.;
No 4 white, s2e;.; all elevator.
RYE - Market easy. No. Western,
1859 cost and freight New York
BARLEY-Market firm. Feeding, S1.N.
and mailing. ,1.4<. cost and freight New
York.
BUCKwHEAT Market quiet Sound
milling. A4o9 $50, cost and freight, New
York.
HAY-Market quiet. Ne. 4. s2.oo@ e.eb;
No ?, s1.s591,95; No. 8. sLSS @le5; ship
ping, Sl.30Ql.4
sTRAw-oiarixet dull. No. rye. slA
ton.