The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-07-04
|CORN FUTURES GO
TO HIGHER LEVELS
Buying Wave Follows Reports
Of Argentine Strength and
Hot Weather.
July ADVANCES TO 1877
BATS Steady After Opening
Easy and Provisions Drop
at Close.
July ADVANCES TO 1877

n A buying wave inspired by strength in
argentine and reports of hot weather
brought corn futures to new high levels
yesterday. The buying came in the af-
bornoon and was sufficient to turn an
sasler tone Into strong one On that
rave July rose to $1.s7. September to
n f1.85N and December to s1.63h. Ar
sentine corn rose to SO cents over
h Wednesday nights. close and fully 20
bents since Monday, when cables were
II deceived last, according to Broomhalrs.
n There Is n widespread demand for Ar
II bcntino corn, but IL is impossible to fill
Il The orders because Of the tonnage condi-
Hons. The British Government Is send
ng ships to the South American coun-
Il b les for grains for the United Kingdom.
Weather reports for the last few days
have shown hot and dry temperatures
L over the belt, which It Is thought will
have a bad effect on the crop, as the
norning buying came from sections
where temperatures had been highest.
\ Predictions of cooler weather and rains
To-day stimulated selling In the fore
boon. The tone of the mafket was ir-
Y regular. early prices being slightly be-
low those of the last previous close.
Tho new record price of S22.20 for
hogs was responsible for the steadiness
bf the market at the opening. Profit
taking was heavy and there was consid-
prable evening as usual before q holi-
day after the first call and consequently
n options slipped down. Some were Of the
opinion that the market had advanced
Il too rapidly and were looking for a
break. The price of hogs and the hard
cnsh market with the small receipts and
offerings checked the declines Trading
was quiet during the early part Of the
Il day. but became fairly active in the af-
ternoon when futures turned upward.
/ There was more profit taking on all
bulges.
Oats, after an easy opening. steadied
on the strength In corn. No export talk
was heard and the cash demand was
n uuiet- Country offerings were small and
n the movement fair. The shipments are
\ expected to decrease as winter wheat is
ready for market Favorable weather
conditions with some realizing caused
\ the lower prices at the first call.
After selling up to new high levels on
tile advance in hogs provisions declined
X and closed easier. The market was
quiet 1t was strong during the greater
part of the day. but sold of in the late
n afternoon. Lard buyers received encou-
n ragement from the Presser report, which
II told Of the great need OF fats in Ger
many and the small supplies which the
II United States will have to offer. The
X report said that Germany would be ready
X to take all of our fat surplus.
# Local quotations follow:
~ CORN-The local cash market wal
Il strong. No. 3 yellow. s2.o5; No . white
II t2.os, O. and (. New York.
III OATS-The local cash market wal
\ hrrier. No. white, slAc.: No. white
/. 500 to sic: No. white, so to s0hc.: No
H white. 79h to SOC. all elevator.
III RYE Market arm. No. Western
Il t1.59h c. and Z. New York
H BARLEY-Market firmer. Feeding. Sl.2.
X and mailing. s1.s0. C. and T. New York.
III BCCKwHEAT - Market quiet. Sound
Il milling, 81. 80 nominal c. and (. Now York
IN nAY-Market steady. No. l. s2.1O42l5
go. 2, sl.s5G2.O5: No. 3. SlSo9l.so; ship
sang, $40.
sTRAw-Market steady. No. 1 rye, 81.
- Is per ton.
WHEAT, including -four. exports for tbs
eek. according to Bradstreers. aggregate
z 70o, sos bushels. against 9,s2s.3os in thu
last previous week and 3,64b,lb3 In tht
4 same week OF last year. Corn exports fol
X the week are 1854, against lll,2O0 last
week and 454,sS6 in the same time las
year.