The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-08-07
CORN TRADING HAS /
STRONGER TONE
Prices Finish Up 8 to 0 "a
Cents o Bushel From Tues
days Final Figures.

Short coverings ana commission house
buying yesterday gave the corn market
a strong tone. Prices finished up s to
sx cents a bushei from Tuesdays close
and at the high levels of the day. The
market was in direct contrast to that
Of tho last few days, during which it
was weak. The sharp break at the close
on Tuesday was on the speculation that
the price Of wheat would be reduced
and when It was announced that the
guaranteed price would not be touched
at present, options naturally moved up
ward. In that decision the local trade
was disappointed as a large short In
ferest has. been built up In futures on
the contingency that wheat surely would
be sold lower, especially with the clamor
for cheaper foods. But Mr.. Barnes took
the view that the situation must be
governed by supply and demand
in this country and abroad and that
cutting the price of wheat. would
tend to allow a corner on the cereal
The Grain Administrator contended that
the price could not be reduced widely
enough to allow bread to be sold
cheaper
All news and reports were bullish
yesterday. The weekly weather report
told of the crop firing in Kansas. and
Price Current said that the crop pros
poets had been reduced by unfavorable
weather and would be In the neighbor-
hood Of assoc, 200. 900 bushels. One large
commission house sent out q statement
that the crop had been damaged mate.
RALLY by the drought before rain fell.
There were reports Of high temperatures
In the Southwest. The movement COM
tinues light. due to the shortage in cars.
Cash prices, which did not follow the
break closely. we're strong yesterday, be-
ing quoted as high as IL cents moro than
were the futures
The market sold of in mid-morning on
profit taking and commission house buy
Ing, but recovered later when good buy
ing came In on weather conditions.
Oats were strong with a slight reac-
ton in the morning on professional sell
Ing and profit taking. As whole the
cereal followed corn. selling up at the
opening on the outlook for better prices.
The market recovered its losses on an
unfavorable weekly weather report and
talk that some good export business had
been worked UP. Many dealing in oats
stiil regard that cereal as cheap and are
buying II. Provisions were strong
throughout. quieting down late in the
day. Pork advanced 81 a barrel In the
the strength in the grains were pri-
marily responsible.
Local grain, &c, quotations Of yes
terday follow:
CORN-Locally the cash market was
strong. with No. 2 yellow quoted at S2.15k
and No. o white at t2isk. cost and freight
New York.
OATs-cash oats were strong. with No.
. white quoted at sac; No. white, Sac,
and No. white SEC. porninsi.' all eieva-
tor.
RYE-Market quiet. No. western.
s1.61. cost and freight New York The
futures market In Chicago closed to
1oAc. net higher. go =.
BARLEY-Market firm. Feeding. ti.s7
mailing. si,40, cost and freight New York.
Futures in Chicago closed to &c.
higher.
BUCKwHEAT-Aarket quiet. Sound
milling. t4.4e@Aso, cost and freight New
York. - -
HAY-Market quiet. 40: l.. saaaos;
No. 2. Si,s5al.sS; No. 8. N.SS61.ss; ship
ping. t.SoG1.N
sTRAw-Market dull No. ! rye, sl4