Salt Lake Telegram | 1916-10-05 | Page 12 | Wheat Prices Strike New 1916 High Level

I Wheat Prices Strike New 1916 High Level B Br BJ Associated CHICAGO Oct 6 Wheat Wheat prices ran up today to a new high level le for 1916 The advance promptly followed announcements announcements announcements announce announce- ments that the drought in Argentina re remained remained remained re- re unbroken In this connection bullish traders put great emphasis on the smallness of the United States surplus surplus sur Bur plus and on the Increasing de demand ele- ele mand Assertions that toe crop losses In Argentina were bein being exaggerated apparently ap ap- ap- ap failed to make muon impression The parenty opening which ranged from he same as yesterdays yesterday's finish to Ic Ie higher with December at to and witt May at 68 to was followed by only a moderate reaction from the initial top prices price Active export inquiry strengthened corn A fair bulge however resulted In Ina Ina ina a decided fal enlargement of offerings Alter After Ater the market opening c to c higher tended to sag oats Oats hardened hardened with other oUter cereals Trade though was well wel divided Tade Shorts and packers buying carried provisions provisions pro pro- r visions i up grade The chief II f I Incentive r to v purchase was an upturn in the value of h hogs KS' KS Open Oen High Low Close Wheat Wheat- Dec 1604 May z 15 Corn Corn- 78 79 78 May c B 17 8 78 78 Oats Oats- DC Dec Oats T. T 49 49 49 49 1 49 9 May 52 52 52 52 pork pork- 2290 2255 2287 De rI Jan j 2265 g 2300 g 65 22 2300 t Lard Lard- De ard 1380 1390 1377 1382 r Jan nJ 1345 1335 UH gl 1337 Oct Ribs Ribs- Ribs 1410 1400 1405 Jan 1235 1245 1235 1242 I