OCR Text |
Show MAY WHEAT SOARS: coiissim Bears Rule Early Market; Oats Show 'Unusual Strength. CHICAGO, Dec. 26. Wheat today rose to S1.30S a bushel for May delivery, the highest price since September 2, when, owing to war excitement, the market touched SI. 32. Signs of Increasing difficulty diffi-culty of obtaining supplies from first hands were largely resonpsible for the new upturn. Prices closed strong at li1 life to Uo net advance. Other leading staples, too, all scored gains corn, ljc to ljc; oats, c to gc, and provisions, 10c to 27Ac. Despite much hesitation early, wheat trading in the last hour today developed Into the biggest bull market of the month. Most of the larger interests had taken to the buying side, with attention mainly directed to the scantiness of offerings offer-ings by the country. Almost next to no tiling was said to be forthcoming in some quarters, notwithstanding bids that were the best so far on the crop. In Kansas especially mills were said to be paying., relatively from 2c to Sc higher than Heretofore, and yet were barely managing to compete with the demand for wheat for export. Bearish feeling which first dominated the wheat market seemed in a Considerable Consider-able measure due to lower prices in Argentina. Ar-gentina. Others news from there was conflicting, however, and the Argentine situation was lost sight of altogether when afterward there were reports of a decided advance in quotations for cargoes car-goes at Liverpool, and it became apparent ap-parent that for the time being rural holders were disposed to be Inflexible, Corn showed great strength from the start. Investors seemed to look with fuvor on the idea that the cereal was relatively cheap compared with other grain. In addition, prevailing cold weather had brought a heavy demand from feeders. Oats rose with com. Rumors Ru-mors of big export sales were not con- , firmed. Provisions climbed because of the advance ad-vance of grain and hogs. The volume of business, however, was only moderate. RANGE OF LEADING FUTURES. Wheat Open. High. Low. Close. Dec $1.2ti $1 .27g $1,255 $1,278 May 1.2J l.SOg 1.2&8 1.308 Corn Dec 064 .68 .66 .68 May 72S .7-ig .72 ,74g Oats-Dec Oats-Dec 40 . 4f3 .9J .492 May .53s .64 .533 .641 CASH QUOTATIONS. Wheat No. 2 red, ?1.26J1.26i; No. 2 hard. $l.2tiJ:i.2S: No. 2 northern, $1.28. Corn No. 2 yellow, 672g6S!c; No. 3 yellow, 66367Sc. Oats No. 3 white, 49t492c; standard, 50ift50Sc. Rve NO. 2, $1.1121.12. Barlev. 6072(7. Timothy, $5.fi0.'?7.00. Clover, 512. 00 15.00. Pork, ?17.l)n. Trd, S10.47. Ribs, S9.7210.o0. |