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Show sharp canirRASTS IN WIWlIEf July Option Is Strong, but All Futures Show a Decided Weakness. CHICAGO, July 29. It was an Irregular, Irregu-lar, but nevertheless logical market, in wheat today. Because of the fears of shorts that a squeeze was pending here, the July option showed strength, while the doferred months woro unmistakably weak. Crop losses in the northwest were apparently not proving so radical as expected. ex-pected. The close showed a not rise of 3c for July, contrasting with a decline of Ec to lie for tho later deliveries. Other Oth-er leading staples all llnlshed at a loss corn, lc to He, oats, Jc to c, and provisions, provi-sions, 5c to 321c. One of tho most potent factors in shaping values lower for wheat was the seeming diminution of buying power, both for tho cash grain and for futures. There was evidently no anxiety to purchase pur-chase on the part of the milling, speculative specu-lative or other buyers. Arrivals at primary pri-mary markets today wore heavy. The world's shipment's, too, were estimated at a liberal total. Considerable feeling developed In regard to tho report that the ofllcials of the exchange would, hold a special meeting and declare that 1,-500,000 1,-500,000 bushels of wheat In cars on railroad rail-road tracks here would be as regular for delivery on July contract as though housed in public elevators. The difficulty difficul-ty at bottom, it was stated, was simply a tight between t;;o big elevator interests." inter-ests." One concern, had sold huge lines of wheat and had not succeeded In getting get-ting as much grain into public elevators eleva-tors as the fllllnp of July contracts demanded. de-manded. The effect on the market was to make trading largely a scalping affair. af-fair. September ranged between 1.022 to $1.04, at the close weak at $1,023 1.02j, a net loss or 3'lc. Corn sagged because of the breaking of the heat wave. September fluctuated between be-tween 621tfji633c with the .close lc to lAc down at the last mentioned price, and the lone weak. Tho cash market was also weak. No. 2 yellow closed at G5 651c. Miscellaneous liquidation gave oats a downward cast. September varied from 36c to 37137c, and closed ic on! at 36Jc. Provisions were sold heavily by commission com-mission houses. The consequence was 121 32c down for pork, 12c to 15 171 for lard, and 5321c for ribs. CASH QUOTATIONS. Cash quotations wore as follows! Flour, easier: No. 2 rye. 7777c; feed or mixing mix-ing barley. 50ig)56c; fair to choice malting. malt-ing. 600Sc; flaxseed. No. 1 southwestern. southwest-ern. 52.361; No. 1 northwestern. 2.46; tlmllhv seed. $6.00; clover. S12.S5; mess pork, per barrel. 52G.0026.25; lard, per 100 pounds. 11.55: short ribs, sides (loose). $ll.62112.S71; short clear sides (boxed), ?11.7512.O0. GRAIN STATISTICS. Total clearances of wheat and Hour were equal to 45,000 bushels. Exports for the week, as shown by Bradstreel's. were equal to 1.247,000 bushels. Primary receipts re-ceipts were 1,467,000 bushels, compared with 1,047.000 bushels the corresponding day a year ago. Estimated receipts for tomorrow: Wheat. 510 cars: com, 302 cars; oats. 231 cars: hogs, 12,000 head. |