Salt Lake Telegram | 1923-12-02 | Page 23 | Sharp Upturn in Crain Mart

SHARP UPTURN IN GAAN GRAIN MART MAAT Wheat in Chicago Closes Fractionally Higher CHICAGO Dec 1 Unexpected Unexpected i-Unexpected smallness of deliveries on December contracts lE leE led to a it n sharp upturn today In the price of or wheat The market closed firm 1 3 So to 2 l 1 net higher December 04 to 04 1 8 and May 09 58 8 to 3 3 Corn Com finished ay at 6 C to 7 So gain Corn finished to 3 Sc up and provisions unchanged to Ic down 1 As At soon SOn as the te fact tact became apparent to that hold elevator wheat t i Interests rather i eSS U than would rUI to o p prefer make I Immediate deliveries general traders were wes quick to take the bull bul side aide notably notably not not- ably speculators who had looked not not-I fora for forn ft a n continuance of ot the liquidation which in the last lat few days days had been the chief depressing Influence The change in sentiment was accelerated fl by a report e that owing to a in the Nebraska crop gt the flour mills In Nebraska were likely lely to be purchasers purchasers pur pur- chasers of ot wheat here before the season seat sea sea- i son was over er Firmness of Liverpool lver quotations t n n n notwithstanding Tn i that t world shipments were heavy counted also aso a as a a bullish bulish factor Ready absorption of at huge recent shipments of wheat to Europe aroused suspicion that current curent estimates of foreign crops might prove un trust trust- worth worthy Furthermore domestic prImary primary primary mary receipts for the tho week showed a abig abig abig big reduction compared with the total a year ago and estimates continued to be put forward indicating a small smal over carry ve of wheat t supplies in this i country t next e July I J Under such ouch circumstances circumstances cir cir- the upward swing of ot prices met with no material check as rains were reported tobe to tobe tobe be delaying the Argentine harvest and some traders here were predicting predicting predict predict- ing a decrease of ot the United States visible supply total Monday Scantiness of offerings In the corn com market gave firmness to corn and oats Provisions lacked laCked support despite higher quotations on hogs I