The sun., 1919-06-28
TRADING NARROW
IN CORN MARKET
Professional Dealing Features
Session in Which Tone
Is Easier.
JULY LIQUIDATION HEAVY
Several Rallies Take Place in
Day in Spite of General
Selling Tendency.
July LIQUIDATION HEAVY

The corn market yesterday was pro-
,essonsl and trading was narrow. with
professionals dominating the tone was
easier. Outside buying was small. and
hence there was little or no support
during the day except when the shorts
covered on crop news or the rise in live
stock While there were rallies the ten
aency was to sell during the greater part
Of the day. Liquidation was heavy IN
the July delivery, as specnlativ accounts
must be evened up before the first Of
that month. Sentiment was bearish
throughout, and was in some measure
attributable to the belief that prices
would fall following Thursday. While
the options did decline In prices,
there was no break, because Of the
strength In provisions and the scarcity
of offerings. In some quarters the feel
ing exists that the unsettled German
situation means a delay in demand for
foodstuffs from the Central Empires.
The announcement that the Government
would sell large quantities of lard and
-four in Baltimore encouraged the bears.
Weather and crop conditions were for
the most part favorable. The cash de-
mand continues soft, being 1 to . cents
lower. Receipts were larger than ex-
pected, but not sufficient to cause any
great decrease In the. visible supply.
while the Argentine shipments were
announced as liberal, only small quant-
ties were destined for the United States.
Prices opened easier but rallied on buy
ing when It was reported that hogs were
stronger and the contract stocks OF corn
small The bearish sentiment, however,
ruled, and the options sagged Off. The
market continued that way until after
midday. when It weakened under heavy
selling pressure. Reports that the Kan
sas acreage would be less than that of
last year caused some covering by the
shorts, which was only temporary. as
pressure from the commission houses
caused a selling movement which con-
tinued until just before the close. when
there was a slight movement upward 1t
Is believed quite strongly that when the
ofncial estimate of the acreage is made
Il will show a larger reduction than was
looked for earlier in the season. But 30
far as the yield acre is concerned there Is
now good prospect Of a satisfactory crop
that will ripen before the average frost
date
Oats were easier. sympathizing with
corn, the absence of important cash de-
mand and favorable reports. While
scattered crop complaints have been
mentioned, nothing serious has been re-
ported Commission houses bought on
the declines. There was little or no talk
Of export demand yesterday. Provisions
were Irregular. the advance In hogs and
light offerings being responsible for the
gains. Lard sold of later on the an
nouncement OF the Government sale.
Local cereal. &C. quotations follow:
CORN-In the local cash market No. 2
yellow was quoted at S1.ss; NO: white'
81 %, cost and freight New York.
OATs-rhe local cash market was easy.
7sT7sIc. No. 8 white 7S5 87sc.: No.
white, 7s9Tshc., all elevator.
RlE-Market weak. No. Western,
N53h. cost and freight New York.
BARIEY-Market steady. Feeding
Sal; mating. i.25. cost and freight New
Yol
II Market easier. No. !. ,21S9225;
M. ?. S2q2.lO. No. ), sl.soGl.sS: ship
ping. ;l75.
BrrKwHEAT-Market Arm. Sound mill
.nE $3.50 nominal, cost and freight New
T7-k
sTRAw-Market dull. No. 1 rye. sl4
elj per ton.
WHEAT, including -four. exports for the
week according TO Bradstreets, aggregate
ss-s,3os bushels, against 10,267.o5s the
previous week and .os7,sl4 last year; since
July !. 400. +lo.s7s. against 2So.224, SS2 last
seal son Corn exports for the week, ILL.,
100 bushels. against 100000 last week and
1910 last year; since July ], l6,2Ol,4Ss'
against 4o.ssl,722 last year.
CHICAGO PRICES.