The Montgomery advertiser., 1902-03-25
Chicago Grain and Provisions.

CHICAGO. March 24-There was marked activity and nervousness in all markets on enormous scale and bears and bulls fought with tenacity to gain control of the pits. Be- searish & conditions ms prevailed early Tn the day market must give way to an upturn won out and May wheat closed 14GNc higher; May corn isqssc higher and May oats %c advanced, strong and closed 2oa22lac to 35c higher. eDcs SsFn had .he 5rads it had and nervous and the pit at all times wss crowded with traders Conditions early tend warmer weather were reported over the greater part of the West. Grass growing report , ed very hopeful and this of necessity did away corn. Wheat was also weak at the start and both the local receipts and the estimated cables started somewhat lower but declined as the day passed & and y fully reflected our our sold in large lots. Liquidation for the c1un- try was renewed on large scale and May fuctuated excitediy. This opton started Ac 5s9s on covering the crowd began to take to the bull side and then plunged down again to 57h on the continued heavy selling. For some time 1t was hard to tell which way the market was going. Commission houses had orders both ways. Gradually the market got on ground. Traders began to feel that at the present low prices trade would be more active and buying began to predominate. Com mission houses toward the end of the session
 
 continued to cover heavily for profits and May worked up sharply to 58%. Outside buy foreign markets. May closed with a firm tone Io2 cars.
 There was continued heavy liauidation fin wheat at the opening on the strength of the weather conditions. It seemed that every DOT ton of the Winter wheat country had received its share of rainfall and everything favored crop growth. Statistics beaIishly in- clined and traders were in guessing mood Saturday and ten loads early today. Specula- tors inclined to the belief that there should be natural reaction after Saturdays extreme weakness and shorts sought cover In large numbers. Cables were weaker, but not enough as to make bulls apprehensve. The general situation had changed little but big local traders and commission houses were inclined to the buying side of the argument that wheat was on new basis and would see and the tone for some time nervous h tre end the buying side showed the most strength. to 7ISs on the heavy selling. reacted to 72as fuctuated nervously for time, sold up to 72,a and closed firm. HdM higher at 72Aw 72%, Local receipts were 2s cars, one of con tract grade; Minneapolis and Luuth report ed SIS ears making a to.si Tor the three Q, %ear rscsps were 5s5 GOO bushels, compared to e35, 900 bushels last year, seabosrd bog o olearances in wheat and -four bushels last week and ,. e5I 900 bushels d year ago. On passage SluU increased C, E 900 bushels. The visible supply decreased l,- o4e 900 bushels
 Trade in oats was not important. Action was inclined to follow after the lead Jf other grains. May weak at tines but any demand prices advanced again. Offerings were never excessive July and September options were very steady in the face of the other grain weakness.
 On the corn strength and light pit offerings after the first selling rush prices showed a fair recovery. May sold low as 4 at the opening, but closed < up at 42s, Receipts showed a little improvement at 26 cars.
 Provisions felt some effect from the weak ir grains and easy hog market eaI ly in the day. Prices at the opening were off a little. but there sprang up good com mission house demand, supposed to he for packers The cash business was much i'm proved and on the very urgent demand there was little stuff for sale here. May pork sold from SI55o to S6 and closed strong. 35c higher at s 95; May lard sold from So 47Is to g 70, and closed 2oa22isc up at that figure and May ribs sold from SC. SIT to Ss 80 and closed 2O922lzc higher at SS 77iad9 so.
 Nh.. Iending futaras ranKei fnlloMa.