Salt Lake Tribune | 1916-05-19 | Page 16 | Wheat Declines on More Peace Rumors

WHEAT DECLINES 0! MORE PEACE RUMORS Close Is Heavy, With Prices j From 2 to 3 Cents Lower; j Corn Also Down, I CHICAGO, May 18. Surmises that definite defi-nite moves for peace had begun were accompanied ac-companied in the wheat market today Dy sharp breaks In quotations. The close was heavy, 2c to 3f7'37c net lower, with July at ?L12 and September at ?1.13. Corn lost c to Tfeffi'lc, and oats c to lc. Provisions finished unchanged to 20o higher. Weakness in the wheat market took an acute form in the last half hour cf the session just after news was printed that the British foreign secretary officially announced an-nounced that the vatican had made representations rep-resentations to Germany in an effort to have Germany abandon submarine warfare. war-fare. Traders were quick to couple the tidings with earlier advices that President Presi-dent Wilson had accepted an invitation to address a meeting of the League to Enforce Peace; that a former French embassador em-bassador had been charged with a mission , to the pope and that Count von Bern-Rtorff Bern-Rtorff had warned Germans in the United States to give scrupulous obedience to the laws. Unloading of speculative holdings or wheat became general, and quickly included in-cluded much aeilrng of an automatic stop-loss character. The previous failure of the market to respond to bullish crop news had caused discouragement on the part of owners, and had prepared the way for a smash in values. In this connection connec-tion a leading authority was quoted to the effect that the general prospect of the Kansas crop waa not alarming, despite big losses in the central and southern sections of the state. Besides, there were favorable crop advices from the Dakotas and Minrfesota. Corn declined mainly as a result of the break in wheat. Reports of record - l.ino tnnotrlal rlsmnnit ffl pr tn flCt as an offset. Oats took the same course as other grain. Crop reports were favorable fa-vorable and receipts large. Higher prices on friogs lifted provisions. Weakness of cereals was ignored. , RANGE OF THE LEADING FUTURES. ! Open. High. Low. Close. i Wheat-July Wheat-July $1,157, $1.16 $1.12 $1.12 Sept 1.16 1.16 1.13 1-13 Corn July 74 . 74 .73 . 7378 Sept 73 .73 .72 .72 Oats-July Oats-July 43 .43 .42 .42: Sept .39 .39 -39 .39 Pork July 23.42 23.57 23.42 23.57 Sept 23.20 23.27 23.20 23.27 Lard July .12.80 12.90 12.77 12.90 Sept 12.92 13.00 12. S7 13.00 Ribs Julv ft. 67 12.87 13.67 12.82 Sept 12.80 12.95 12. SO 12.95 CASH QUOTATIONS. Wheat, No. 2 red, nominal; No. 3 red, $1.11'1.12; No. 2 hard, $1.14 1.16 ; No. 3 hard, $1.041.12. Corn, No. 2 yellow, 7676c; No. 4 I yellow, 72c. Oats, No. 3 white, 43 45c; standard, 4647c. Rye, nominal. Barley, 61Slc. Timothy, $5.60rtTS.OO. Clover, $7. 5015.00. Pork, $23.00(524.00. Lard, $12.95. Ribs, $12.45(5-12.95.