The Montgomery advertiser., 1902-08-23
CHICAGO Grain and Provisions

CHICAGO, Aug, 22.-vicious and savage
Board Ct Trade today St Louie shorts In
corn and wheat wore punished severely. There
was nothing particularly bulish in the early
news. but yesterdays exceptional bulge IN
ccrn frightened the corn shorts and at the
opening, there a wild rush to get under
uover AFTER prices all around had been
boosted to figures to suit the Dig holders ma a.
erratically. In the ends the shorts suffered,
the local longs secured fancy profits for their
corn closed unchanged. December corn &c
lower September whea, @A down ssp'em
St Louis shorts had sent orders for heavy
covering at the opening Of tn eeorn pit Prices
would easily have gone to 6oc or more ned
it not been that the big longs were compel
ing with each other to unload on the unfor-
of the bulls to sell at fancy figures, however
did not prevent an excited and much higher
opening. September corn started Aqlc up at
57AG58, with wide fluctuations jumped to
5e% Here big quantities came out aid be
fore long 10000 bushels or more had been
badly and as soon as it was thought the short
interest had been eliminated, september
touched 55i2. Every bid or sale made quick
change of from Y to Ic in the price OF Sep
terrber Trading throughout the entire SEES.
sion was sensational. Influential houses had
December for sale, but he early advances IN
September sustained the later month. Con
dtions that usually rule the pit weic hardly
considered. There is still fine prospect, OF
still small otherwise the situation was prac-
ticaIly unchanged. Near the close September
rallied and December fell off, September ,,,>-
ing steady and unchanged at SIC and De-
cember q down ct 42%. Receipts 70 cars o
contract grade
perfect. most of the early news in wheat ia
Vored buyers. Gables were strong On the re-
ports of frosis and dry weather in Argentina
Receipts were lighter and contract grading
was very small Above all. shorts were fright
ened both at the advance in wheat and the tu-
SIA nit
short nd wanted over a million bushels. The
result was an excited opening with September
Ad% to "a lc higher at 7l7sa7212 After the
rush of buying orders was over brokers let
go freely the crowd followed and prices broke
TO 7o%, One of the factors was the falling
off IN the cash demand with M;n7capolls cash
premiums of 2i@ from yesterdays hgures
Much of the early heavy selling was by
prominent elevator concern that has had Sep
iembcr ortions congested for some time
NAM Of the !taiIers7 there was a fair rally
September. however. closed weak, itSIAc down
at 7lSs Receipts 22l cars 2 contract; Mimi
eapolis and Duluth reported 2e5; a total for
and 7I2 year ago Primary, rec reeei H6s we're we're
100000 bushels. against o22 ooo last
year. seaboard cIearances equalled cog o 0o o0
busheis compared to 35e, 900 last year.
Selling for leading bull caused weakness
wheat and corn had little effect and after a
little squirt prices fell back The motive Tor
the sh1rr selling by nss was srs said TO be
which is expected to result soon in improving
the grading. Shorts still wanted slut but
cline trading fell off. September sold from
34% to 80 and closed weak, la &c down al
$685. Receipts. I73
Provisions advanced early on a better hog
market and outside buying. Iater longs un,
declines / nall the list Even the unusual
advance Of as much as 25c in hogs and a
good consumptive demand did not prevent a
weak close. September pork closed zoe lower
at SI6.65 September lard 2oc down at
$40. l7ls. and September ribs loc on at
The lsading futures ranged as follows;