Evening star., 1941-11-09
Profit-Taking Sends
Grain Prices Down
In Chicago Trading
Wheat Off ! to 1s Cents,
Much Of Weeks Rise
Wiped Out
BY FRANKLIN MULLIN,
Associated Press Financial Writer.

hSSOCldteQ f[eSS FINANCIAL writer.
CHICAGO, Nov. 8.-Wheat prices
fell l to 17s cents today as week.
end profit taking and adjustment of
accounts wiped out much of the
laborious advance registered since
last Saturday.
Rye closed 1-114 lower than yes
terday, corn 7s-1 lower and oats ss-
ss down. Soybeans fluctuated er-
ratically over a range of more than
3 cents and at the close showed
losses of 112 to 27s cents. Final
prices for December and May wheat
were s1157s-a. and $l2l-1.21ls,
for corn 77i2 and 83l4 and for De-
cember soybeans $17114
Brokers said some selling, par
ticularlv in the soybeans and corn
pits, was based on prospects of more
favorable weather for harvesting
and movement of late crops. Pro-
posals to alter the pending price
control bill to provide for lower
minimum ceilings on farm products
also kept the market unsettled.
SOi0 10 commune.
The forecast indicated weather
would remain cold in most of the
North Central grain belt. moderat-
ing in some areas Sunday, with
little or no precipitation. This. with
the long-range forecast to November
II indicating precipitation will be
light, revived trade hopes that soy
beans and corn harvesting can be
resumed soon, although crop ex-
perts pointed out that several DAYS
of dry weather will be needed in
many sections to permit field work.
The unusual fall wet spell not
only has held up the bean and corn
harvest, but has prevented seeding
of some winter wheat in both soft
and hard wheat producing sections.
There have been increasing reports
Of damage to late feeds and spelling
OF small grains already in storage
and of losses of soybeans. Lamson
Bros. & Co., leading grain firm. had
a report from Central Illinois, heart
of the Soybean belt. that shatter-
ing so far has not been very serious.
but many farmers fear the dry
weather may cause losses.
Some Hedging Appears.
Some hedging appeared in the
corn and soybeans pits. Spot bean
prizes fell cents and spot wheat
and corn were off p to l cent.
Handlers booked $4,000 bushels Of
corn to arrive and sold 10000
bushels of corn and 10000 oats for
shipment. No. 2 yellow new corn
was quoted at 75A, or 3s4 under the
Government asking price for old
corn.
Lard futures closed 7 to 8 cents
down. rejecting lower sovbean oil
prices and weakness of grains.
Grain range at principal markets
today:
DECEMBER WHEAT Prev.
Chicago 14 High 1ls:. HS. 11s;.o Cos: 1i4oss f!os;
E$s'; H;$s!: rs: IS Fl i. E| Il: 81:
assi': sf:siso is'. is? ls fs: 1f!s! ss: IT,
Kans. c. 1.15Ss ! 1dL l43a l15s.
Winnipeg .T1h - ~ 77ss
JULY WHEAT
Chicago 123 12l1a 1o1s.-1, 123i.-A
N polls 117h 11s1o
KfSi Ki5pss 6 19s': 4s,. nt:. -. * i45s: .4s7s
. DECEMBER CORN
ss5s.:s sss: g, -; 3. .55'; =. :7sss
ehyssse ehMysS coaS- "a. .ss,. .ssn .s4,.-n
Kans. c. .77la .767a .767s .T73s
DECEMBER OATS
Chicago .51ls .50sa Boss .51ls
Mpolis .41l4 .46ss .46,4 AIS
Win'peg .44ss .44's 44sa .44ss-A
CHICAGO Cash Market.
Cash wheat was 12-1 cent lower today:
basis steady: receipts 90 cars: sales. 1000
bushels. Corn. l7-1 lower: basis steady:
receipts ls7 cars: sales. $4,000. bushels
bookings. 80 600 bushels Oats, u lower:
basis steady; receipts, "a cars; sales, 90
900 bushels.