The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-08-12
CORN PRICES BREAK
IN AQUIET MARKET
Sharp Decline Caused by Fa-
yorable Crop and Weather
Reports From Belt.
OATS ALSO TAKE A DROP
Provisions Are Dull and Irreg-
ular-Pork Advances on
Strength in Hogs.
OATS ALSO TAKE A DROP

The corn market broke yesterday
afternoon after displaying nervous
and irregular tone early in the session
Prices slumped AZ to 5% cents bushel
rom the days high levels The weak
,ess was due to favorable crop and
veather reports. besides liquidation.
Crop reports told of the excellent prog
,ess which the growing grain Is making
IN all parts Of the country. Weather
over Sunday was favorable to the cereal.
Announcement by Acknowledgement
palmer that he would enlist fair price
committees in every locality In his cam
nalrn TO stop profiteering caused some
selling. as did the continued agitation
for lower prices for necessities. As
mis- is the most critical period for corn,
the experts are paying more than usual
attention to the crop.
So far the grain has deteriorated only
slightly, due to the recent drought
which was considered for time alarm
ing, especially in the middle West. The
corn market, too, has developed an
oyerbought condition caused by the rises
the latter part of last week. That made
II easily susceptible to the selling.
While the movement continued light
country offerings increased, as result
IN a large measure OF the settling Of the
railroad difficulties which had prevent
ed shipping the latter part Of last week.
Receipts are now expected to increase
The advance in hogs and the noticenN''
decrease in the visible supply hal 4 e
IL any effect on the market. ;:iess
In, stocks due to the - "'f ment of
ho,i- coll Ia for Soma
OF the furry.
Wire trouble in the West hampered
trading, especially In the morning, when
little or no service was received. Sem
timent in the market was mostly bear
ish, a large part Of the short interest
having been cleared out in last weeks
rise. But all in all 1t could be said
that the market was dominated by the
professional element, with scarcely any
outside buying in evidence.
oats were weak in sympathy with
corr and because of the generally IA
yorable weather conditions. Receipts
were fair, with the cash demand light
and less active. A rally In oats at the
opening was attributed to reports tina,
while the crop would be large many
complaints of lightweight grain were
being received. The rally was only short
lINe0, however, hS DfOht uahiuB DcSduie
active and the recession continued the
remainder Of the day. While 1t Il
grown that the oats stocks are large II
Is believed that the cereal is bound ,tG
sell! higher because OF the foreign de-
mand which is being worked up.
Provisions were dull and strong a
d, the opening. only to weaken with the
exception of pork. The market. wa.
strong on the advance in hogs and ligh
offerings.
Local quotations of grain. &C.. yesterday
follow: .-"'
GRAIN CORN - Cash, lower. No.
Fellow, quoted at s2.22h; No. 2. white
) I22sN, eft. New Yorln = y
OATs-No. 9, white, SIC No. 8, white
BHc.; No. 4, white. Sc to sshc.. all ele
vator.
RyE-No, Western. s1.ss. o. e.. Ne'
York
BARLEY-Feeding. ,.4l; mating. sl.S'
: T., New York.
BUCKwHEAT-Sound milling. s4.4o I
tsO.. c. T.. New York.
HAY-No. /, 81 to $2405; No. Q. SIS
70 sl.95; No. .. s1.55 to sl.s5; shippini
N.10 to I.40.
sTRAw-No. 1, rye. s1t q ton.
CHICAGO PRICES. .