OCR Text |
Show SEIiOlL RISE IN PR1CE0F WHEAT Black Rust Reports From North Dakota Make a Bull Market. I CHICAGO, July 8. Black rust reports from Ypsilantl. X. D.. brought about a ( en6atlonal advance today in the price of wheat. The rise from the lowest quotations quota-tions of the session amounted to 5c a bushel. The close, however, was unset-'. unset-'. I tied, at gains of 2-3c to 3c net. with July at and September at $1.09 1.09 1. Corn finished to c up. oats unchanged to c higher, and provisions varying from the same as yesterday's flniah to a rise of 'jOc. Not withstanding that, according to high i authority, it was doubtful whether the i -wheat plant In North Dakota could be far f enoiiKh advanced to show black rust, the assertion that the dreaded infection had been found led instanter to an upward up-ward rush In values. At flrpt little attention at-tention was paid to opinions that a more likely place for the discovery of the rust would be in the southern part of the spring crop region. Before the end of the day, though, conservative views were Riven hed, and a Rood deal of a reaction in prices took place, especially as some advices referred to the evil as not rust, but instead, black smut. Prior to the alarming news from North . . ( Dakota indicating the possibility of huge ; I damage to the spring crop, wheat prices i iad swung within comparatively narrow f limits, and seemed during the early part of the day to act on the whole in favor Vf of the bears. Indeed, the ruling influ- jr ence was a report that the surplus mols- : ture in the northwest was disappearing g fast, and that prospects were encouraging . for a big yield. ' Corn bulged when wheat turned strong- j Previously, the market was weak, owing I to the bearish government figures and as a reBult of ideal weather. Oats reflected the course of other cereals. Scattering reports of rust continued, and stocks in store showed a big decrease for the week. Higher prices on hogs carried provisions provi-sions up grade. Selling, which widened i")t on the advance, appeared to come chiefly from one of the big packers. RANGE OF THE LEADING FUTURES. Open. High. Low. Close. Wheat-July Wheat-July 1103 Jl.08 51.03 (l.OSH September 1.03 1.10V4 1.05 1.09 Torn-July Torn-July 77J; .78 .76 .7774 September 7 .74 -i .72 .7ti IOatK July 3.Ti .40 .38 .39 September 3S'4 .39 .38 .S9- CASH QUOTATIONS. Wheat. No. 2 red, No. 3 red. No. 2 hard and I No. 3 hard, nominal. 1 , Corn, No. 2 yellow, SOiaSlc; No. 4 white, 70c. ; Oats. No. 3 white, 39',i40c; standard, 41c. Rye. nominal. Parley. 63fiSOo. Timothy. 58.75. : Clover, 57.0014.0". Pork. 524.5(1,26.60. Lard, 513.30, Rlba, 513.40(9:14.00. |