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Show VVHEAT SKY-ROCKETS: COLLAPSE FOLLOWS Market Directly Affected by Reports of Possible Peace Overtures. CHICAGO. rec. 19. After a sky-rocket 'ascent of ic today, wheat prices fell "ic, and closed in a stato of semi-collapse, at a range varying wildly from i,c under yesterday's linlsh to "c. net advance, ad-vance, with May at $l.m to $1.65 and July at $L3S:i to ?1.3S"8. Tlie rise was due to a general impression impres-sion that Great Hritain had rejected outright out-right the German overtures for peace. Knsuing assertions that, nevertheless, a loophole for a peace conference still remained, re-mained, were responsible, for the subsequent subse-quent drop In values. Corn lost lc to lUc net; oats, s(f Uc to vie, and provisions, provi-sions, 13 Uc to 15c. Transactions broadened out to only a moderate extent on the bl.tr upturn in wheat prices, but on the downslide appeared ap-peared to have next to no limits. At the outset, and for about an hour. and a half later, the trade had no definite word as to the 'nature of the British premier's speech, but initial uncertainty had given way to increasing belief that his reply would be a decided rebuff to the promoters pro-moters of a parley with Germany. Then came brief, but circumstantial, reports that Lloyd George had said the war would not be abandoned until Great Britain's object had been accomplished. Soon after this and other more detailed confirmatory dispatches, the niarkei bounded upward about 4 cents in short order, on top of an earlier rise of 3 cents or more. Buying- on the way u p wa rd was decidedly more active than under ordinary conditions, though far from recent re-cent sensational records. Selling, that grew swiftly Into some-thins some-thins like a landslide, took place when the wheat market bad approached to within measurable distance of the prices ruling a week ago, before the announcement announce-ment of the German offer. Rushes to realize profits had much to do with the general unloading and the ensuing declines, de-clines, but the stampede to the bear side seemed to derive chief impetus from what purported to be London dispatches, asserting as-serting that the Lloyd George address had leftthe door ajar for Germany provided pro-vided specific terms were named. No aggressive support was forthcoming in the sudden confusion that followed, and the close found the stampede only checked in part at about Vc up from the bottom quotation of the day. Corn swayed almost wholly as a result of the changes in the wheat market. The heaviest selling on the late decline was from elevator concerns. Oats followed other grain and showed no sign of independence. inde-pendence. Trade was local. Liberal receipts of hogs made provisions average lower. Speculators who were watching the European situation seemed for the time being to have transferred their trade to the wheat pit. RAXGE OF THE LEADING FUTURES. Open. High. Low. Close. Wheat-May Wheat-May . ..$1.64H $1.7134 $1.64H $1,643. July . .. 1.3$i 1.44H 1.3S14 1.38 Corn May . .. .9.1 .943s .91 July . .. .9214 .93 .9114 Oats-May Oats-May . .. .5384 .55$, .52 .53 July . .. -53 .604 .50 Pork Jan. . ..26.70 26.80 26.65 26.65 May 26.50 26.35 26.35 r Lard-Jan. Lard-Jan. . ...15.95 15.95 15.85 15.87 V May . ..15.97 16.00 15.90 15.95 Ribs -Jan 13.70 13.62 13.65 May . ..14.04 14.10 14.02 14.05 CASH QUOTATIONS. Wheat Nos. 2 and 3 red and Nos. 2 and 3 hard, nominal. Corn No. 2 yellow, 953.; (S)96c; No. 4 yellow, 9394tc; No. 4 white, 9394c. Oats No. 3 white, 52'353c; standard, 52i53ic. Rye No. 1, $1.40. Barley. S5cfrS1.20. 1 Timothy. 53.50tf? 5.5". Clover, S12.0017.O0. ' Pork, $28.50. Lard. $16.5n?16.55. Ribs, $13.1513.65. |