OCR Text |
Show Chicago Grain Chicago, Sopt. 19. Wheat prices tended downward today owing to increased in-creased selling pressure and to the absence of any urgent demand. Reports Re-ports of the presence of a new German Ger-man raider on the Atlantic and of the destruction within tho last ten days of vessels aggregating 74,088 tons appeared ap-peared to count against the bulls. An ombargo on export grain at Newport News acted as a further weight on the market. Opening prices, which-ranged which-ranged from 1-4 to 1 1-4 c lower with December at $1.47 3-4 to 1.48 1-4 and May at $1.48 1-4 to 1.49, were followed by a moderate additional setback. Corn gave way with wheat. Reports Re-ports of damage by frost seemed to have lost force as a market Influence. After opening 1-8 to 3-8c down, prices rallied a little but then sank lower than before. In oats, heavineos prevailed as In other cereals. Business was confined confin-ed to pit traders. Higher quotations on hogs lifted provisions. Shorts and packers were buyers. Word of the purchase of Argentine wheat at New York and of offers of more gave the wheat bears a noticeable notice-able advantage until announcement was made that the Dutch government had bought the Argentine wheat. Subsequently Sub-sequently liberal sales to Great Britain Brit-ain turned the market sharply upgrade. up-grade. The close was unsettled at 1-4 to l-2c higher with December at $1.49 3-4 to 1.50 and May at $1.50 7-8. In later transactions the corn market mar-ket felt tho effect of the bulge In wheat. The close was steady at a range varying from l-2c decline to an advance of 3-47-8c net. |