Salt Lake Tribune | 1916-12-08 | Page 12 | Wheat Bearish on Market at Chicago

WHEAT BEARISH I HET AT GII3CAGQ Uneasiness About Possible German Difficulties Given as the Cause. CHICAGO. Dec. 7. Uneasiness about possible renewal of difficulties between the Tniterl States and Germany had a bearish effect on wheat today and emphasized em-phasized weakness that resulted from a letup in export demand. The close was heavy, lc to ZVrC net lower, with May at $1.7X14 to $1.7Sii and July at $1.48 to ?1.4S. Other leading staples, too, all showed a setback corn lgc to lc, oats c. to 114c and provisions' 22?c to 90c. Although it was known long before noon that the Geij-man defense for the sinking of the Arabala presented a chance that the United States government would take a sharply different view of the facts, wheat traders did not seem much impressed im-pressed with any sense of danger until the last fifteen minutes of the session. Then a Washington message saying that a break with Germany over the Arabia might occur at any time led to a selling drive in which prices crumbled rapidly. Apparent, complete absence of fresh export ex-port business had been a previous source of depression, which was added to by forecasts of large shipments from Australia Aus-tralia and by talk of lack of an adequate number of freight carriers in the north Atlantic. Prospects that export buying, which since the first of the week had been on a big si-ale, would be continued today seemed bright at first, but dwindled to nothing in the end. Temporary advances in the price of wheat accordingly formed the rule in the morning hours and were helped by word that ships would be withdrawn with-drawn from the Argentine trade, presumably pre-sumably for trips between North America and Europe. Increased country offerings put corn on the downirnirie, together with the weafc- ' ucss d!" wheat. Kainy weal her acted as onlv a 11 ansu-ni .nVei. ! Oats gave fy with other prnlns. j Sraiviiv if curs tended to n-strirt demand de-mand from the seaboard, all bullish e-iui e-iui tors vl'!V said lo have disposed of .'-b'.i.KHi bushels. Provisions fell in response to a decline in tlie hog market. Packers were conspicuous con-spicuous on t he st Hi ng sLte. RAXGK OF THIS 1. HADING KUTURKS. Ouen High. Low. Close. Wheat Mhv . ..si.sp..; si.R'-'a3 5i.7u ?i.7$i; July . .. 1.50-?; l.-IS8 1.4a; Corn Ma v . .. .or3; w-k July . .. .ti;VS .o!3 Oats M;iv . .. .:S"a .f9 .."7''i . . 5 . Julv . .. . Mi .."ti;, .:4z Po ik-Jan ik-Jan 7.42 26. 7r, 26. 75 Aluy - . -L'6.55 2ti.;.ii 2H.05 26. Oa 1 .aid Jan . . .16.3l 16. l-07 16-07 Mhv . . .16. SO 16.32 16. 07 16.10 Kins Jan. . ..H.15 14.15 13.92 May . ..H.:.: 11. o7 M.17 14.22 CASK QUOTATIONS. Wheat, No. 2 red. S1.80S: No. ?, red. nominal; No. 2 hard, nominal; No. 3 hard. $l.Sli. Corn, No. 2 votlnw. fir.- fi :iiH.jc; No. 4 vellow. ?:il4 'i''.! l'lic; No. 4 while. Slffi'jric. Oais. No. o while, ri. r.M,c; standard, stand-ard, nominal. ' Rye. No. 2, Sl.47ivrl.4S. Parlev, $;v"r $1.2". Timothv, Si.."irt;'5.5t. Clover, $12.00((i 17.00. T'ork. S2S.S0. Uard. S16.37Wlfi.42. t Ribs, 513.4511:1.93.