Salt Lake Telegram | 1911-06-26 | Page 10 | Unexpected Advance in Wheat

UNEXPECTED ADVANCE IN WHEATMAKKET CHICAGO. June !. An unexpected reversal re-versal sentiment ln Liverpool todsy gave the wheat market here an upturn. The reason for the change of view at the British Brit-ish port was reported to be the nervousness nervous-ness of shorts there concerning the email -neas of tha contract atock Immediately at hand. The total ahowed a decrease compared com-pared with last week, and waa only 1,624.-ooo 1,624.-ooo bushels, compared with 1.171.000 bushels bush-els a vear ago. ' Additional cause for bullishness wss found In the fact that the amount of wheat on ocean passage had fallen off more than 1. 000.000 buahele. Soma weakn'sa here at the start resulted from ralne northweat and the pressure of new crop offerings. The opening was lHc down to leile up at 6lc for September. Sep-tember. A rise followed to c Witherlng heat southwest sent all the nit apectltstors to the buying aide of corn. Temperatures In Kaqsaa and Oklahoma were reported KB breaking all high records. rec-ords. September opened c off to 6c advance ad-vance at I7 to 676C and ascended to 5M5Rc. Oats were In sharp demand from the big longs. Th new bot wave and the atrength of wheat and corn fumtahed the Incentive. Beptember started title lower tn a ahade higher at 41 to 41(c and climbed to 4:fc. Provisions were eay with"- hogs. First alee were 2in5r lower to l?Jc up, with September delivery at 116.471 for pork. Id no for lard and II. 326 for ribs.' Big rural gales brought about a reaction reac-tion In corn, which soon, however, gave awiy to a more radlral advance. The cloae waa firm at 66it?6c, a net gain of lirle. Favorable reports regarding the wheat outlook In North Dakota occasioned some setback, but the Interruption to the rising tendencv of the market waa only for the time being. The cloea waa firm, with Seutrmber at (S(o, a net gain oMc. Closing Qnotatlona. Wheat July. lc: September, Hf to: December. ellfi'lV. Cora July. E7c; September. 111061c; December. 67iftSftc. Oats-July. 4!er4jc: September, 411c; December. 4fr4lc. Pork September. !5.S2. Lard July, IH.20; September. I 13. Ribs July. 16 3-1: rleptcmber, 1140.. Rve No. 2. !orlc. Barlev S0c1.l0. Timothy 16013.26.