═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════ │1862.│1863.│1864.│1865.│1866.│1867.│1868.│1869.│1870. ─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───── January │$1.02│$1.48│$1.56│$2.16│$1.37│$1.35│$1.38│$1.36│$1.21 February │ 1.03│ 1.63│ 1.59│ 2.02│ 1.39│ 1.38│ 1.42│ 1.34│ 1.18 March │ 1.02│ 1.56│ 1.64│ 1.75│ 1.31│ 1.37│ 1.40│ 1.32│ 1.13 April │ 1.02│ 1.52│ 1.76│ 1.49│ 1.27│ 1.38│ 1.39│ 1.33│ 1.14 May │ 1.02│ 1.50│ 1.79│ 1.37│ 1.34│ 1.37│ 1.40│ 1.40│ 1.15 June │ 1.07│ 1.45│ 2.22│ 1.42│ 1.53│ 1.38│ 1.40│ 1.38│ 1.13 July │ 1.14│ 1.34│ 2.54│ 1.43│ 1.52│ 1.40│ 1.43│ 1.36│ 1.17 August │ 1.15│ 1.26│ 2.47│ 1.42│ 1.50│ 1.41│ 1.47│ 1.34│ 1.18 September│ 1.20│ 1.35│ 2.23│ 1.45│ 1.45│ 1.43│ 1.43│ 1.43│ 1.15 October │ 1.28│ 1.49│ 2.09│ 1.47│ 1.50│ 1.43│ 1.38│ 1.30│ 1.13 November │ 1.31│ 1.49│ 2.35│ 1.48│ 1.45│ 1.41│ 1.35│ 1.28│ 1.12 December │ 1.32│ 1.51│ 2.28│ 1.47│ 1.37│ 1.36│ 1.36│ 1.22│ 1.11 ─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───── ═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════ │1871.│1872.│1873.│1874.│1875.│1876.│1877.│1878. ─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───── January │ 1.11│ 1.10│ 1.13│ 1.11│ 1.13│ 1.13│ 1.06│ 1.02 February │ 1.12│ 1.11│ 1.14│ 1.12│ 1.14│ 1.14│ 1.06│ 1.02 March │ 1.11│ 1.11│ 1.17│ 1.13│ 1.16│ 1.15│ 1.05│ 1.02 April │ 1.11│ 1.12│ 1.18│ 1.13│ 1.15│ 1.13│ 1.07│ 1.01 May │ 1.12│ 1.13│ 1.18│ 1.13│ 1.16│ 1.13│ 1.07│ 1.01 June │ 1.13│ 1.14│ 1.17│ 1.12│ 1.17│ 1.13│ 1.07│ 1.01 July │ 1.13│ 1.14│ 1.16│ 1.10│ 1.14│ 1.12│ 1.06│ 1.01 August │ 1.12│ 1.14│ 1.15│ 1.10│ 1.14│ 1.11│ 1.05│ 1.00 September│ 1.14│ 1.14│ 1.14│ 1.10│ 1.15│ 1.10│ 1.04│ 1.00 October │ 1.14│ 1.14│ 1.10│ 1.10│ 1.16│ 1.11│ 1.03│ 1.00 November │ 1.11│ 1.13│ 1.09│ 1.11│ 1.15│ 1.09│ 1.03│ 1.00 December │ 1.10│ 1.13│ 1.11│ 1.12│ 1.14│ 1.08│ 1.03│ 1.00 ─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───── CHICAGO TEN-YEAR AVERAGE DAILY PRICES, 1904–1913. Compiling the tables on pages 126–133 involved considerable work, but it is believed that for studying seasonal trends and normal relationships at different times of the year, these figures are very valuable. As a matter of interest, a few future contract prices are averaged. It will be noted that the future prices differ considerably from the cash prices until the date of the delivery month draws near, when the future and the cash prices become almost identical. Before the war, the future contract system worked very well, but during the war it was rather unsatisfactory. There is an interesting field of study in the seasonal trend of northern wheat (spring) as compared with red wheat (winter). JANUARY.