Evening star., 1936-06-30
GRAIN PIT CHIEF
Halls OPTIMISM
BoyIan Says Corn Growers
Have Regained Seaboard
Markets.
BY JOHN P. BOUGHAN.

CHICAGO. June 30.-President Rob-
ert P. Boylan Of Chicago's Board of
Trade says a more optimistic senti-
ment pervades the grain trade as the
first half of 1886 ends.
One OF the chief reasons President
Boylan gives for the improved feeling
Is that corn growers of the Midwest
have regained the seaboard market,
lost to them through the heavy i'm
portation of Argentine corn for sew
eral months. In midyear review to-
day, he pointed out that since late in
the Winter there has been an active
shipping demand for corn, and he
added
This situation is extremely impor-
tant to the farmer and to the gen.
eral economic condition of the coun-
try as well. 1t has made already for
greater measure of prosperity,
spreading outward from the Middle
West, in which transportation agen-
cies and other necessary elements Of
the grain industry have shared At
the same time farmers have enjoyed
particularly profitable feeding sea-
son as the price Of hogs has contin-
ued high compared to corn.
Uncertainties at End.
President Boylan continued: AN
other factor, which has been men
toned before but bears repetition. is
that members of the Chicago Board
OF Trade and of other commodity ex-
changes are relieved of legislative un-
certainties by enactment of the COM
modify exchange bill.
In the first months of the year.
uneasiness over legislative proposals
operated to curtail the volume of
trading in futures contracts, although
there were many influences that or
dinar1ly would have brought increased
activity and perhaps higher prices.
A further phase that worked against
the wheat market in particular. Presi-
dent Boylan said, was that prices for
Canadian wheat went to such low
levels there were further imports of
Dominion wheat into this country.
with the threat of even more Canadian
receipts If domestic prices had ma
terially advanced.
Premiums Are High.
Despite this handicap" said Boy
Ian. farmers in this country have re-
ceived comparatively high prices for
their wheat, as premiums for nearly
all grades were high most of the sea-
son. Mill buying slackened late in
the Spring and the more extrava-
CANT cash wheat premiums were re-
duced materially. At Kansas City
In May the price of ordinary No. 2
hard Winter was reduced to a level
which permitted the shipment of a
substantial quantity to Chicago, re-
sulting in a late collapse Of the price
for May wheat here"
Summing up, President Boylan con-
cluded: THE Winter wheat crop for
1886 promises fair yield, but Spring
wheat prospects have faded rapidly
the past few weeks. Doubtless this
means that premiums for cash wheat
again will be relatively high the COM
ing year.
Winter wheat is beginning to move
In volume and, owing to the losses
threatened in the Northwest, South |
west farmers are obtaining fairly high |
prices"
Price Ranges Given.
During the six months wheat values |
in Chicago. as measured by the pres
ent future delivery contracts-July,
September and December u have |
ranged from 82k cents q bushel to |
98A cents. The corresponding range |
in corn has been 52as-67%; oats,
IAN -32%; rye, 491a-681s; lard, CAS- |
1910, and clear bellies 12.00-1475.