Salt Lake Tribune | 1915-11-14 | Page 19 | Bulls in the Wheat Trade Encouraged

BULLS IN TRE WHEAT TRADE ENCOURAGED CTTIOAOO, Nov. 15. Assumptions that export trade from the United Stares would soon become larcer encouraged bulllnh sentiment today in the wheat trade. The outcome was a steady close, he to Ti'trlc n.t higher, with December at $1.03'4 Rnd May at $l.054. Gains were scored also by other speculative articles corn Vic to ic, oats hie to 4c. and provisions pro-visions a Bhade to 7c to 10;. Leading bulla In wheat took the ground that foreign developments appeared to be directing the immediate European demand de-mand more and more to this country. Siress was laid on reports that the sup-Ply sup-Ply in Great Britain wss almost negligible, negligi-ble, and on the r-on tinned strength of prices here and at other oomesttc centers, notwithstanding the exceptionally heavv crop, movement of late. Views of this character helped to bring in sufficient buying to fctart prices up grade ri?ht at the ou'set, and there was at no Urn anv serious reaction except of the most transient Fort. Decreasing arrivals In the northwest had considerable effect In gaining additional addi-tional friends for the bull side of the wheat market. In this connection gossip was current that nvrch wheat was being snipped from Minneapolis, all mil to New York, for export. Due notice was also taken of advices from Kansas City telling that demand there was brisk. Demand for corn broadened out to a notable degree, especially on the part of rural dealers. Despite heavv profit taking tak-ing by pome prominent longs, the upward tendency of prices could not be overcome. over-come. Complaints regarding the poor quality of the crop gave the chief incentive in-centive to the buying. Oats hardened in sympathy with corn. Cains wer somewhat some-what eherked, though, by the knowledge that receipts here tor the week had been the largest for any cotrespDndlng week in five years. Provisions responded to the strength of hogs and grain. Export sales were paid to have reached an average of more than twice the normal total. RANGE OF THE LEADING FUTURES. Open. High. Low. Close. Wheat-Dec. Wheat-Dec. . ,.$i.0'i; ji.or.u ti.wu $J.o5i May . .. 1.05 l.Ofi'i 1.05H 1.06s, Corn Ic 60 H -614 .6H .61 U May . .. ' .641,3 .63Ji .64 Oats Pec 3S .3S7; ."S4 .-ga May . .. .39 .40U .39', .40 Pork-Jan. Pork-Jan. . ..16.55 16. TO 16.62 16.65 May 16.65 Lard Jan. . .. 9.1o 9.17 9.12 v 9.15 May . .. 9.22 9.25 9.22 9.22 Ribs Jan. . .. 9.17 9.17 9.12 9.15 May . .. 9.30 9.30 9.22 9.25