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Show CHICAGO GRAIN Chicago, Aug. 4 Wheat advanced sharply today a6 a result of improved improv-ed prospects for a speedy renewal of exports to Europe The course of the British government in guarantee ing war risks on shipmentsfrom this countrywas supplemented by similar action on the part of importing firms in Germany. Chief encouragement tn hiivpra thniiyh ramp in thp shane of dispatches from Washington that the bill to admit foreign ships to American Am-erican registry was only awaiting the president's signature to become a law The opening, which ranged from l-2c lower to l-43-8c higher, was followed by a rise of 2 1-2 to 3 5-8c compared with last night. September Sep-tember touched as high as 90c, December De-cember 94c and May $1 even. Hot, dry weather threatening serious seri-ous crop damage lifted corn. After starting 1-S to 7-8c higher, prices continued to ascend, and In some ca ses gained as much as 2 l-8c September Sep-tember reaching 70c. Although oats opened lower under pressure of hedging sales, a substantial substan-tial advance ensued The cause was sympathy with the bullish course of other grain. Provisions rallied moderately from yesterday's depression It was predicted pre-dicted that the decline in hog prices would cut down receipts and lead to a scarcity of provisions, especially meats. Selling on the advance wiped out more than half of the gain in wheat Reports of delay in making the amended navigation bill effective, had a depressing influence. There was also a huge increase of the world's visible wheat supply The close was strong. 2 1-2 to 2 5-8c net higher on account of late reports of export buying. buy-ing. Rapid reduction of stocks here help ed sustain the corn' market, although . o. Ar mm n t ii T-n w'npn i acre was m uwnii wheat began to recede. Closing prices pri-ces were strong, 2 1-2 to 2 5-8c above last night rw 1 |