Evening star., 1937-11-21
Chicago Futures Market Up
2Hs to 2s Cents From
Fridays Level.
PROSPECTS FOR REVIVAL
OF EXPORTS BRIGHTEN
Corn Prices Also Higher as Coun-
try Offerings Decline-New For
eign Business Hailed.
BY FRANKLIN MULLIN,
Associated Press Market Editor.

CHICAGO, Nov. 20.-The wheat
market wiped out its weeks losses
today with sharp 3 cents bushel
advance in the final hour, based on
a report that frost in an important
Argentina wheat-prOducing area was
more damaging than expected. Most
Of the gain was held.
Prices tilted upward from the start,
rising about cent in early trading
as result largely OF rallies in stocks
and more active business in North
American wheat for export overnight.
Later a report from r. o. Cromwell.
Chicago expert now in Argentina,
said his survey of Southern Buenos
Rires Province disclosed heavy frost
loss. He estimated the Argentina
crop at 185,0OO,OOO to ls5,00O,O00
bushels.
Earlier Estimates Higher.
Earlier this week private estimates
ranged up to 225, 100000 bushels, COM
pared with a crop of 1000 900 last
season.
Wheat closed 2is-27s cents higher
than yesterdays finish. December,
92a. Is; May, s23s-a4; July, 86as-'2
Corn lH4-ls. up. December, 54A-7s;
May. 579s: July, 58l2. Oats 1s-h4
up, December. 30i.-5s. Rye 1h4-li2
higher, December, II. Lard 20 cents
lower to II cents higher.
Although European takings Of North
American wheat continued disappoint-
ing, a moderate business in Canadian
grain was reported. Sales in all posi-
tions were estimated at less than 250.-
900 bushels with business in domestic
hard winter wheat negligible.
Much of wheat's early strength re-
suited from what traders called an
oversold pit condition together with
quiet commission house buying that
developed short covering on the up
turn. Liverpool closed to / q lower,
q smaller decline than expected.
Corn Also Advances.
Some observers said prospects for
export Of increased quantities of Amer
ican wheat continued to brighten with
crop estimates in most European coun-
tries and ocean freight rates declining.
There was talk that trade negotiations
between the United States and Great
Britain might lead to removal of the
6 cents duty on domestic wheat. Ar
gentina was reported not Offering new
wheat as freely as usual.
cti lot Hv,
wheat action and by decreasing coun-
try offerings. together with reports of
further export business out Of the Gulf.
said to be in excess of 100000 bushels
Oats and rye rose with other grains.
The grain range today at the prin-
cipal markets:
nro,,,a II High; Low. Close. Prev. Close.
Minneapolis 1.oo7s' .3s7s ."o,s , ~.
Kansas City 81. .S7a4 81 .S1s.
EiVe4poef Menlesf 1Is. lIS : Iss: h: 1t: s,
L'9G9l; 9Say Mshi WHEAr" Az. l'i''' i1''a lI'''
Kansas City .sa.s .S6,. SOL .s6s.
Winnipeg 1.l.7s .O9l. 1.l"is O9ss-
Iiye5PS9l JUIy wuE4TEr. l;12r. 1'l4'' ll47' l.'das
Chicago 81 .s4a. .sGs. .s4h.-l.
Minneapolis .91ss y5ia
Kansas City 81 sos ~ SO-hs
winnipeg 1Osla .O3ts 1.O1a. LOSS
DECEMBER CORN
Chicago .547s .53E. .54a. .53ns-H
Kansas City .32is .5li. .52ls .5li4
MAY CORN
s.$:;: ss;;:;s s!E - 81; 5.: e.; s
Chicago BOSS .a0,,a .30i2 .3Oas
Winnipeg .45A "A .45I4 .44H
Chicag0 Cash Market.
Cash wheat sample grade. red. IS.
Corn, No. 3 mixed. 5ls4-53a4: No. 3 yel-
low. 52l2-54la: No. . white. So. Oats, No.
white 3. i4-33. Rye. no sales; buck
wheat. no sales. Soy beans. No. . yellow,
92a4-93: barley feed. 1852: mailing.
1875. Timothy seed, 2.25-65. Red clover
seed. "a .5O-3!.5O: sweet cloverSeed,
{ 1.OO-15.
Winnipeg Cash Market.
Winnipeg. Nov 20 (P.-CaSh wheat,
No. | Northern l3fN; No . Northern