Salt Lake Tribune | 1912-07-21 | Page 25 | Market for Wheat Heavy at the Close

MARKET FOB WHEAT HEAVY ATTHE CLOSE Big Crop Estimates Cause a Drop in Prices on Chicago Board of Trade. CHIC AGO. July 20. Big crop estimates took the place of the Deirdanellos scare ".s the chief influence today in fixing the pi ii-r- of wheat Accordingly the market Hosed heavy. Jo to lie under last night Corn finished unchanged to like down, oats varying from go off to a shad ad-vnnco, ad-vnnco, niid provisions up 2jc to 10c Official notice that the closing of the Dardanelles had been deferred acted as a bearish lcvrr at the start In the wheat trnoV but wa? forRotten later when attention at-tention turned back to the crop outlook In the United States. A large expert Just returned from a tour of the northwest and BOUthweel predicted a total yield of more than seven hundred million Imshels. BS apalnst ihe government July forecast of (129,000.000 bushels. He also raised his winter wheat estimate to about four hundred million bushels. Statements that Nebraska would enter th" list next week and had shipments already eti route hero pulled the market down hard in the first half hour. During the session September Septem-ber ranged from Irc to OIJc, with last sales 9?.c. a decline of ljc compared with yesterday. W eek-end covering by shorts held corn compartlvely steady until late in the day. wh''n values sajred 011 account of rains In portions of Nebraska where drouth complaints had been heard. September fluctuated between filic to 659c closing weak ic net lower at 64Bc. Cash grades were only In fnlr demand; Xo. 2 yellow, 71i7Hc. Wet weather In harvest sections helped the price of oats the greater part of the time The market weakened In the end with other grain. September ranped between be-tween 33Jc and MiOM)o. The close, 88c represented a loss of l??ic net. Packers received the credit for the per-BlStent per-BlStent buying witnessed in provisions The outcome was to raise pork Tic to 10c: lard oc t6 71100, and bacon 2jc to 5c. RANGE OF THE LEAPING FUTfRES. WbMt Opening. HlRnoV Lowat. Closing. July 9714 7; t 17 Sapt 1MH pae P7 97 W4 " Mir . 1.01 1.01 l I.OO14 '"orn July 0H 6H 8S Snpt 65H 4H MS To MS tVi 68li Mi May 67 " CT E74 Oata Julr 4 43 414 42H 8cpt nu, JS4 Tt3 3(5 35H 344j SH May i 37S 37 37 87 cash Qf citations Cah qtiotatlona wore aa follows: Flour, t(1r; winter patente. 4 f,0Tf4.7O: ItMlghtl t4.lS04.tO; fprlnr patonm. $.676; etrnlghts. 4.60-f4 1: iker. 4. 4 45; rye. No. 74c . barley feed or mixing, new, 'iKjIi&c: fair to rbolca maltlni;. .nu.- . I -. I. .. . 4 rft? Kft .In... ni.-s ;(f timothy ae-1. $fi . fiOfT 7. 60 ; rlorer aed tlR.OOtf 1R 00; meaa pork. 17 fOlf 17 G2; lard. Id tlerera. flO.BS; fhort rll.r, looe. J10.42 GRAIN STATISTICS. Total rlearani-CK of whut and flour were en.unl to W.OOO )ualiolf Eiporta for the wrk, aa ahewn t BrtdttrMt'a were equal to l.sH.000 buahell Primary receipt wem 1. 1 it. 000 buahela 'or:ii"ir1 wit! 1.41 000 bOlttell UM corresponding correspond-ing da a year ago Otltnated re.-elpta for Mon-!ay Mon-!ay : Wheat, 125 earn; corn, ICS car, oat. 110 cai.i. liOKa. 32.000 hand.