Salt Lake Tribune | 1917-03-18 | Page 42 | Wheat is Strong despite Rail Crisis

WHEAT 13 STRONG DESPITE iL CRISIS' Advantage Rests With Bulls After First Hour of Uncertainty. ClIK'.V'lO, Miti-fh 17.- Not wit hstHtvlirv: thai the riiilwHv labor -risis I--J t iinn-li nr ousit'-ss ;i n 1 irrr gularit y In the u hea t ma vkf-t tod.t v, pri-.s m the la le dwUinj-s show I considerable nt rengt h. dwliiv hirg.-ly to iis.ri that the ov- - -mi; rni w.is p? e pa rl eg measures to pre -win cessation of traffic even if the president's pres-ident's appeal to the contending forees to' gel fOg"i : ,f-r fa Us. The i-Iom' wa unsettled, ranging from fi lr flfliiif to ;t 1-V advance, with Mav flt Jl.M 1.. .tl.M1, ft ml Julv at $I..ilvi b JH.Sr.V Corn finished off to "P. oats down lo riMfl provisions al gain of 7?i- to ! Oii'-i-i taintv over the strike siluatlon; made the wheat market average mod- eiatfly lower during the first hour, hut! ,'ii'tTwnr.l the Rdvantag was mostly with' the bit I !s. .lny, in partirnla r, displayed 1 n tenden-- to ha rden, whereas the Sep-le Sep-le inner delivery remained compai ati vjly weak throughout the session. Offerings of Mny wheat, were notably scarce, and there wan some ood buying of this option, with t lie demand coming to a ureat extent 'from houses tha t often ai"t for scaboa rd Interests. Other factors than the rail-wh rail-wh v si rike receiver! but liltie not tee and men n white freight embargoes already In effect to anticipate a walkout of em-ployefs em-ployefs hart a decided Influence toward r strict I up? new specula tive venturer 1'ond i nr conclusive development a as to 1 the outcome of mediators' efforts at New York. 1'ndoing of spreads caused May wheat to lose part of its advance as t lie market mar-ket approached an end. For the same reHson, July regained all of an early loss. Selling of new crop deliveries, especially September, was led by concerns identified ivith the southwest. 'orn and oats were almost devoid of foal ore. Pit operators were Inclined to he bearish, hut were restrained by the comparative firmness of wheat. Inability to Ret cars switched kept shippers at a Kta ndstill. Scarcity of offerings gave an upward slant to provisions. Aloofness of packers In I he hog market operated, however, a3 a drag on quotations In the late dealings. HANG K OF THIS LKADING FUTURES. Open. 11 Igh. Low. Close. Wheat -May . ..$1.83 Jl.Si S1.82 $1 .84 Julv . .. 1.3-l8fr 1.55 '.i 1.53B 1.54 Corn Mav . .. l.i!'t. l.OD" l.OS' 1.09 July . .. l.l7fcH LOT-1; 1.06T4 1.075 , Oats-May Oats-May .. .. .57?; .r.s .57 .R7; Julv . .. .6'1'i) .56'.; .&'.,; Pot It-May It-May . cm 23.25 3;:. 00 3:1.23 Julv 32.55 l.ard Mav . ..19. in Wi.'lZ 19.10 19.20 Julv . ,.l!(.a7 ID. 07 19.20 Ribs-May Ribs-May . ..17. -".7 17.70 17. S5 17.67 July 17.7,"- 17.85 17.75 ! CASH QUOTATION?. Wheat No. 2 red. nominal ; No. 3 red, ! S1.S7; No. 2 hard, nominal; 1N0. 3 hard, i $I7. ! Corn No. 2 yellow, nominal; No. 3 yel- 1 low, . 1 . t) 7 r7 1 .UN; No. 4 yellow, nominal. 1 Oats No. Z while, 56fi,5i4e; standard, I l'."a .V.t'ic ' 'lt"e. nominal. Hurley. Sl.uurff 'riinothy. Sa.75fo'5.75. Clover. SI 2.001j-1S.CK). Pork, $3J.2 Lard. ?I!'.2T. Kibs. $17.171 17.75.