Salt Lake Tribune | 1919-05-27 | Page 16 | Corn Stronger on Supply Shrinkage

CORf! STRONGER Orl SUPPLYSHRINKAGE "CHICAGO, May 20. Owing largely to a big decrease of the visible supply total, strength supplanted weakness today in the corn market. mar-ket. May touched the highest level yet this season. The close was nervous at 1 cent to 2 cents advance with July $1,651; to $1.05", and September $1.57 to St. 5$. Oats gained to 1 i-s cents. In provisions the" outcome varied from 10 cents decline to a rise of , 67 cents. 1 Prospects that shorts In corn would suffer n I squeeze attracted much notice toward the last I of the day In connection with the shrinkage I of the Tisihle supply, -a falling off of l.OU.OUO' bushels as compared with a week ago. Misgivings Mis-givings on the part of the shorts were emphasized em-phasized by the fact that the amount of corn in Chicago has been reduced to only 402.000 bushels, whereas two bull lenders were alone said to have May contracts calling for 1.000,000 bushels. Before the circumstances became the focus of attention, sentiment was generally bearish as a result of favorable weather for plowing and planting and because of chances of larger receipts in the near future. Oats were governed chiefly by the changes in the corn market. Provisions although sympathizing with hog declineR went upward when grain advanced. Stockyard houses bought. THE RANGE OF THE LEADING FETCHES. Open. High. Low. Close. Corn July Sl.Gm $t.654 $1.61Vj $1.05 Sept 1.54 l.oS 1.51 1.j7;s 0ts n , Tulv 60'i .67; .Gtm .67 Sept 0213 .04:!s .62 .6i',b Pork Miiv 53.00 July ...47.45 48.92 47.45 49.92 Lard .Tulv . .. .30.00 31 .25 30.25 31 .25 Sept 20.2 20.75 20.10 20.70 Kins .Tulv 26.60 27.40 26.55 27. .2 Sept 20 . 20 2G . 85 2G. 15 26 . So CASH QUOTATIONS. Corn No. 3 yellow. $1.786 '1.7S1-; No. 4 yellow, nominal: No. 5 yellow, nominal. Oals No. 3 white, GSGSViiO; standard, 63 09'4c Kve -No. 2. $1.463.-17. Barlev $1 . 1 2(r?1 .2:i. Timothy SO. 00 (a, 12.00. Clover Nominal. Fork Nominal. La rd $32.65. Ribs $27.75(S2S.S5.