Salt Lake Tribune | 1918-02-03 | Page 30 | Corn Market Bears Again in Control

Speculators Optimistic in Regard to Peace; More Empty Cars in West. CH tr,nn. Y-.h. 2. linlarscd supplif-a nr ears on weMein roals, t.OKether with tiplnniMii in r-i;iirii to peaee, liavc Khen un ;ulvantHPO this week to the bear tilde ,l I In: eoni market, (,'omp;ired with a n.,ck asio, prirKH l lilo morning rant;eil from u,j tli-i-Uiic l , advance. uas shoive.l iie-t lote varying from a shade to le. F'rovisions ualnf-d 37c to Due. Notwithstanding Itiat new storms and Beverc low temperatures Impaired elll-(ieii'-y ea:-;t of Chi. aso and tended to harden values in the eorn market, temporary tempo-rary Hhrinkacn of Hliipplnt! demand here eied an aometliinn of an oftscl and prevented pre-vented anv radieal upturn in prices. By Thu Ml;i v," le;irler in tho rorn trade willingly will-ingly put themselves on record as savins that improvement in the car situation west wim heeomin-j; plain, anil it was further fur-ther announeetl that energetic measures liail heen taken to care lor new deliveries hy farmers. Thereafter, prices almost uniformly sawd and the market was ruled larnelv by bearish inferences as to Increased likelihood of peace. fter sliortane of immediate supplies liad hoisted oats to new hlsti price records rec-ords for the season, the market reacted sharply. Shullins off of export demand was a' noil, eablo factor in bringing about declines. . e.-ice chances and coverninent huymt, put strength Into jnovlslons. Lex.seniiu; of hearlsh conlidenec regard-Ins regard-Ins the outlook for peace did a good deal lodav to strengthen tho corn market. 1 he outcome was a linn close. f;,f to Va ' lc net higher, with March at 51. 27 and Tvlay at $1.21 '',& 'ii) 1 .2f. Oats Rained Je. to 7ac and provisions 17c to :'.7c. Throughout the day corn had an tip-ward tip-ward tendency that especially retlerted reappointment of traders who have looked lor swift sensational developments from Herman economic and political troubles, and who. therefore, expected quick indications indi-cations that the end of the war was not fur distant. The fact. too. that receipts here, Instead of helne enlarged, were oven smaller than lias been the rule of late, counted also against would-be sellers. On the other hand, weather conditions seemed the best in a long while, and there was Konera hone that a broadening; of the. crop movement, although deferred, would soon hecome a substantial factor. I Week-end adjustment of trades, however, kept tho market on the up grade to the end. . , Profit taking by shorts was mainly responsible re-sponsible for 'the advance of oats. The Incentive for action on the part of shorts was an unusual scantiness of offerings. Provisions rose with hogs and because of the bullish showing of warehouse ;to.ks In Chicago. UANCilS OK THE LEADING FUTURES. Open High Low Close lMar0ch'.?1.27'i J1.27U $1.27 May . 1.5M': 1.20 l-4'.'s l.-7'S MarVh"". .SI- .S2'i May . . .7!t . V9-i ..8; .(9 ' Mayrk .17.23 47.25 47.00 47.15 . ; 1 Lard May . .25.52 25.77 25. o2 2o.i7 Ribs ' Tvlay . .21.60 21.30 24.60 24. SO