The Montgomery advertiser., 1902-04-08
Chicago Grain and Provisfons

CHICAGO April 7.-Grain specuators had Winter wheat crop which, when they attempt ed to reconcile them with the weekly sta- tistics produced something of jagged mar. sentiment. but in the end in spite of corn weakness. May wheat showed a gain of asc. May corn closed 1ec lower and May oats sc down. Provisions lost 5dI2lsc.
 At the outset there numerous bullsh influences at work in the wheat pit. Cables e., the temperature. The Kansas State crop re- port. however. was the early bull factor; This estimate. which Saturday was reported at "A. corrected today to condition of only 70 as compared to Io5 a year ago. The report also showed a loss of 400 GOO in the acreage from last year and possible decrease in the yield of 30. 900 bushels. Other States had been sending in lower estimates and these reported at 90. against es last year; ohio "A against 63 and Illinois March fgure) IS. against es Under these influences May wheat opened haas to 1sdssc up at 7iA07i1e; Shorts covered. there was some good buying and prices held firm for some time. A Chicago paper printed an exhaustive report of crop conditions which. in spite of the damages in the Southwest. promised about the same crop as last year. This factor together with large weekly shipments and smaller decrease in the visible supply of 1000, 900 bushels less than had been expected, wore away the edge to weaken. Corn which had some fair early support also turned weak and helped push a7o&. but the bulls turned in again to the support. Shorts covered again and there was a good rally. May closing firm ssc higher at 7lL@7l&. Receipts were still small the cash business and moderate and seaboard accept ances were very light. Elevators were liberal sellers. Commission houses worked on both ends of the market. The crowd seemed dis posed to wait for the Government reports to settle their misgiyings about crop conditions. grade: Minneapolis and Duluth reported 257 cars. making total for the three points af 2sz cars against 47o last week and aGs 5oa 9oo bushels compared to 59I 900 bushels last year, Seaboard clearances in wheat and flour were ss62 900 bushels. against 6,632, 900 bushels last week and 8. o2 900 bushels a year sso ooo on creased only POS 900 bushels,
 Corn ruled weak again. At the opening the liberal covering by the shorts, and the pit crowd anticipating possible bull turn loaded up ptesy we Wtn tris oHs ing se and Found nn body wanted it at the high prices. Scalpers forced to sacrifice their holdings and prices took a sudden drop. The shipping de mand was reported very poor and helped in the depression The Southwest sold carly and the market lacked bull support Cables were and small country offerings had a similar in. fiuence. May slumped to 57is and closed weak. cars
 There was little interest in oats. Prices and provisions May held rather steady. though time because of the growing weakness in corn, 1t eased of from 43c to 42lq Receipts. 7l
 Provisions huctuated widely again on manip- uation. The opening prices higher on the better hog market and the grain strength. Liquidation soon set in however. and carried all prices downward. Packers sold freely at times. while scapers bought The market not very active and corn weakness helped in the decline Light weights in hogs were also incentive. May pork sold from Sl 6 55 down 10 SI6,25, but rallied covering to an easy close. 5c lower al SIG .42l.. May lard closed I2lsc down at Se47i2 and May ribs I2lsc lower at S9. 75.
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