The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-08-07
CORN TRADING HAS
STRONGER TONE
Prices Finish Up 8 to 8 81
Cents a Bushel From Tues
days Final Figures.

Short coverings ana commission house
buying yesterday gave the corn market
strong tone. Prices finished up TO
Ok cents a bushel from Tuesdays close
and at the high levels of the day. The
market was in direct contrast to that
Of the last few days, during which 1t
was weak. The sharp break at the close
on Tuesday was on the speculation that
the price of wheat would be reduced
and when 1t 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
terest 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 he
governed by supply and demand
in this country and abroad and that
cutting the price of wheat would
tend to allow n corner on the cereal.
The Grain Administrator commended 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 nelghbor-
hood of 2,S00. 00O. 900 bushels. one large
commission house sent out a 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 con-
tinues light, due to the shortage In cars.
Cash prices, which did not follow the
break closely, were strong yesterday be-
ing quoted as high as IL cents more than
were the futures
The market sold off 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
still regard that cereal as cheap and are
buying 1t. Provisions were strong
throughout, quieting down late in the
day. Pork advanced 81 a barrel in the
morning The steadiness in hogs and
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. yellow quoted at $215k
and No. white at s21sk. cost and freight
New York.
OATS-Cash oats were strong, with No.
2 white quoted at sac; No. white. SIC,
and No. 4 white. s2c.. nominal, all eleva-
tor.
RYE-Market quiet. No. Western.
s1.6l cost and freight New York The
futures market In Chicago closed to
l0kc. net higher.
BARLEY-Market Arm. Feeding. Sl.s7
mailing. $40, cost and freight New York.
Futures in Chicago closed to 4hc.
higher.
NEUTRALITY-SUSPICIOUS. quiet. Sound
milling. $40 a $50, cost and freight New
York.
HAY-Market quiet No. /, s21s.oS
No. 2. sls5G1.e5; No. 3, l.5S Q l.65 ship
ping, slsog1.io.
sTRAw-Market dull No. l rye, si