The Montgomery advertiser., 1902-05-07
Chicago Grain and Provisions.

CHICAGO. May e.-LAil grains reacted today from yesterdays weak position and although way cautiously the close of the session showed July wheat ssc higher. July corn Id isc ad- vanced and July oats l4c up. Provisions were
 Trade in wheat was largely the kind of an anair that might be expected after the con- siderable slump in the burial of the drought scare. The natural inclination was to figure on reaction and when cables showed no re- sponse to our slump. but rather improved hsher se Sr fuencc, however, was a new weather scare In the news of delayed Spring seeding in the Northwest because of the excessive rains The ground Northwest is reported verltble ponds with the rain still falling. The bulls seized on this argument to emphasize the probability or great decrease in the Spring wheat acre age Northwestern receipts were very small and the outside markets showed good strength Additional bullish inventives were Rradstreet's s report Of decrease of 6.974. 900 bushels in the worlds available supply and the decrease or 2.4Oo 900 busii-ls in the European visible. The cash situation here improved when prices broke yesterday and local sample men reported eight loads taken here for direct shipment to Europe. These factors influenced holders of tically no pressure to sell stuff at any time, either for short accounts for liquidation. Trade in general. however. rather quiet and without prominent features. Bulls were cautious July started ,s@I.c to a shade up and 75lsa75 advanced to 75%@75s. and closed firm ssa higher at 751sa75Ss. The CO.,
 
 in the Southwest. had been largely discon- tinued yesterday and their bearlsh rffect was offset today by the numerous bullish infu- ences. Local receipts were 67 cars five of contract grade; Minneapolis and Duluth re- ported orly 84 cars. making a total for the three points of I5I cars. against POS las. week and 2I4 q year ago. Primary receipts, 27 900 bushels. compared to S66. 900 bushels last year seaboard oa clearances in wheat and reported I2 loads taken for export.
 Corn showed marked strength in the face of hearish news. Primer cables started the earl upturn and wheat strength added to the pit situation. There no disposition to sell even when it was reported that the counter side was offering corn more liberally. Receipts were good and the weather in the corn coun . try was almost ideal. The bullish factors were an improved cash and shipping business and the position of the leading bull house. For some time there has been talk of a bull move ment in July options and this talk re vived just before the recent break. Vague ru- mors of deals in this pit have been inter- preted bullsh tips and when the leading house took in stuff literally today the crowd tailed in and pulled prices. One of an absence of selling pressure that yeste~- days break shook out most of the available stuff and deterred any response to toiay's bearish news July corn sold from 6o7s to a 2os cars
 Good business in cash oats and sympathy with the advance in corn and wheat resulted in only fair trade ip oats futures and only barely flrmer position. Crop reports were favorable and May stuff sold at SnRntlN lower prices. gNlng inc impression that the leading May operator try ing to let go some of his holdings Trade was slow. July huctuated narrowly and rlose' lie higher at 3534. Receipts were 296 cars.
 Provisions ruled weak. The hog situation at the yards was weaker and influenced the pit and outsiders sold literally. Trade not active but in spite of a. packers support there was a pressure put on lard that brought sym pathetic weakness In pork and ribs. The beef trust 'agitation, has made many of the traders fight shy of this pit. July pork closed 5c lower at Sl6.95; July lard 7,GGloc down at SIo. o7ivd 10. 10, and July ribs 2i2a5c lowe. at S9. 57ia.
 The leading futures ranged ss foiiowas