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Show WHEAT VALUES BREAK Will MT WAR Market Closes Unsettled at Same as Tuesday's Finish to 4 Cents Lower. CHICAGO, Feb. 7. Activities of German Ger-man submarines caused sharp breaks In wheat values today. The market closed unsettled at the same as yesterday's finish fin-ish to 4o lower, with May at $1.69 to 51.70 and July $1.46i to $1.46. Corn and oats showed virtually no change as compared with twenty-four hours before. The outcome in provisions was a setback of 7I410c to 5:'.4c. Downward swings in the price of wheat began as soon as trading opened, and they attained their greatest force shortly before the end of the day. Trade authorities au-thorities seemed unanimously of the opinion opin-ion that the wholesale destruction of vessels ves-sels had checked export business and turning speculators to the selling fifiV of the market. Some bearish leaders it even susgested that after all this coun- S try might still have a liberal carry-over r of old wheat on hand when the first re ceipts of the 1!17 crop were available. Stoppage of shipments to neutral countries coun-tries appeared to be almost complete, and there was no evidence of any fresh business busi-ness with the entente allies. Word that no convoy would be given to the American steamer St. IjOuis and that her sailing, as well as the departure of many other vessels, from United States ports had been halted acted as a special handicap on the wheat bulls. Be.ri'les, the market was depressed by increasing railway freight congestion and by chances of a big strike of switchmen. Crop damage dam-age reports from west of the Missouri river tended to sustain the July and September Sep-tember options, but had no effect on the May delivery, which at one time showed a fall of oic under yesterday's latest figures. fig-ures. Corn showed much strength in the face of wheat weakness and of selling on the part of a prominent long. Advices regarding re-garding the Argentina crop were more pessimistic than ever, and it was said rain now would be too late for any great benefit to result. Oats merely reflected the action of corn. Provisions were governed largely by the course of the hog market. Packers' buying ceased, and declines ensued when quotations at the yards had been forced to a lower level. The unpromising export outlook was also a bearish factor. RANGE OF THE READING .FUTURES. Open. ' High. Low. Close. Wheat Mav $1.73 $1.74"4 $1.6S $1 .694 July 1.47'i 1.4S 1.46 1.46V4 Mav"!... 1.01 1.02V4 1.00 1.01 July 99',i 1.(10 .98 .99 Oats Mav 54 .5oV4 .54 '4 .544 July 53?i .54 .53Vs -53 Pork-Ma.- 29.62 29.95 29.10 29.10 Julv 29.60 2S.80 2S0 Lard-May Lard-May 16.47 16.55 16.35 16.35 Julv 16.70 16.52 16.62 'libs Jay 15.50 15.60 15.40 15.40 'July 15.65 15.72 15.55 15.55 CASH QUOTATIONS. S Wheat, No. 2 and No. 3 red and No. 2 and No. 3 hard, nominal. - Corn, No. 2 vellow, nominal: No. 4-yel--.y 99ea$1.00; No. 4 white. 99cSl.00. Tats, No. 3 white, 54V2547ic; standard, 55'-n 56c. tve. No. 2, $1.46. Barlev, $1.00gl.2S. Timothy, $3.50ig"5.50. Clover, J12.0017.0O. Pork, $29.10. Lard. $16.07. Bibs, $15.0015.40. |