Evening star., 1925-04-18
VIOLENT CHANGES
IN GRAIN MARKETS
Week Sees Fluctuations in
Wheat---Argentine Corn
Crop Smaller.
By the Associatcd Prekn.


CHICAGO, April Is. Violent
changes in price ranging from . TO
10 cents bushel every single day for
week have brought about a decided
net advance in the value of wheat
deliveries to be made from the COM
ing 1925 harvest, but have led to a
decline in May wheat quotations, rep
resenting wheat already on hand from
last years crop. Latest authoritative
estimates indicate 1l0.000.000 bushels
shortage in the 1925 probable yield Of
Winter wheat in this country, as
compared with last year. AS a result
wheat prices this morning were all
the way from IL lower to higher
than week ago, with corn at Is OFT
to i q up. oats showing IL to q gain,
and provisions varying from 4o de-
cline to a rise of 2.
Crop outlook Declines.
Special significance attaching to new
unofficial figures relative TO the poor
outlook for the Winter wheat crop
lay in the fact that they implied little
or no improvement in growth condi-
ton had been achieved since the data
for the Government report was gath
cred. during the last week in March.
Furthermore, the new unofficial esti-
mate was unusually comprehensive.
being the gist of information from
l 900 different correspondents. On the
other hand. absence of any immediate
scarcity of wheat or of any urgent ex-
port or milling demand tended to null
lily chances OF profit by owners of
May delivery contracts.
Corn and Oats Improve.
Opening of navigation on the Great
Lakes making it profitable to bring
wheat to Chicago from Duluth, did a
good deal to force selling out on the
part Of speculative holders Of May
contracts. Such holders might other
wise be compelled to accept in settle
ment actual wheat, on which storage
and insurance charges would imme-
diately begin to pile up. and for which
no definite relief was yet in sight.
BY far the most interesting devel.
opment affecting corn and oats. was
official announcement that the Ar
gentine corn crop this season will be
80 per cent smaller than in 1924.
Hog market declines had a depress.
ing effect on provisions.
Today's Grain Prices.
CHICAGO. April Is. - With moist.
cool weather indicated for all States
in the grain belt, just the conditions
needed to promote wheat growth,
wheat tended downward in price to-
day during the early dealings. Buy
ing lacked volume, and when selling
orders appeared, the market quickly
declined. Demand increased, how
ever. and rallies ensued after a set
back OF "A cents. The opening, which
ranged from J. lower to q cents
gain. with May, 1.5oh to 1.51 a, and
July. 1.41 to 1.42, was followed by a
general downturn, which sent May to
1.49A and July to 1.397.
Corn scored material gains, inf1u.
enced by assertions that Argentine ex
ports would be cut in half this year
and that the United States corn crop
is short cit 900. 900 bushels, with hogs
1915. against $50 a year ago. After
opening unchanged to q off, May
1.05% to 1.06, the corn market ad
vanced to 1.071a.
Oats were little changed. Starting
at the same as yesterdays finish to
- off. May, AK to 41ss, the market
fluctuated within limits of about -
cent.
Provisions were easier, sympathiz-
ing with the action of hogs.