Ogden Daily Standard | 1916-01-07 | Page 5 | Chicago Grain

Chicago Grain Chicago, Jan. 7. Wheat developed weakness today, Influenced by the fact that cable advices were disappointing disap-pointing to the bulls. According to one exporter British dealers were offering of-fering to re-sell at a substantial reduction re-duction as compared with last night's offers from this side of the Atlantic. On the other hand vessel rates from Argentina continued to advance and it was admitted that shipments from Australia during January and February Febru-ary would be only moderate. Prices here after opening 3-Sl-2c off to 1-2 , A 5-8c up, with May at ?1.26 1-2 to 1.27 1-2 and July at $1.19 to 1.19 1-2, underwent a decided sag all around before beginning to react. Corn showed strength at first but eased off when wheat turned downgrade. down-grade. The initial firmness of corn was due to lightness of receipts and to jumps in foreign quotations. Opening Open-ing prices here, which ranged from l-8l-4 to 3-8l-4c higher, were fol-lowed fol-lowed by a moderate general setback. Oats reflected the changes In corn. Commission houses, though seemed to favor the buying side. Selling from packers tended to weaken provisions. The market was fairly well sustained, however, by speculative demand. In later transactions the provision market ruled easy in line with hogs. It was said that scarcity of feed was causing the sacrifice of livestock to an unusual extent. Wheat prices closed heavy 1 W 3-8 to 1 5-8c net lower with May at $1.25 1-41.25 3-8, and July at $1.17 5-8. The corn close was steady at 3-8 to l-2c net decline.