The Montgomery advertiser., 1902-01-26
Chicago Grain and Provisions.

Chicago. Jan. 25.-Reported improved conditions in the winter wheat belt to- gether with a decided slump in corn caused an unmerciful hammering of. the wheat market today and May wheat closed with loss of 1-4@1 3-S at 7S Is. Corn was in worse dilemma than wheat and closed 3-S lower for May. Liquida- tion by the bull clique apparently to se- closed 7-S lower in sympathy with the other grains. Provisions ruled steady throughout the session. Wheat started fairly steady. mainly on the sharp rally at Liverpool which was quoted 3-4 high eE Light domestic receipts coupled with the closing firmness of yesterday induced considerable buying under which May opened unchanged to Is higher at buying. however, to carry the market up to any great extent and after May had touched 79 5-S reports of a generous snowfall throughout the Southwest where the winter wheat has been threatened with damage. developed a decided bearish sentiment and the slight advance was soon lost. A rumor that the advance at Liverpool was due to the fact that a 8 cent duty was likely. to be imposed on the other side, coupled with a decided slump in the price of corn, started a selling movement that forced the price Of May down to 7S cents. The execution of stop loss orders also helped the de- cline. There was little damage during the break except from shorts who bought sparingly to secure profits. A few min utes before the end. of the session a fairly good demand from the country brought a slight upturn to the improve ment was short lived and the market closed weak within 1-Sc of the bottom price of the day at 7S Is for May. Chi cago received g cars. two of contract grade. Minneapolis and Duluth received day last year. Total receipts at Western primary markets were 43s.000 bushels against 100000 bushels year ago. Sea o,r board elesranSes t aIa of wheat and flour were advance of s-yc. at Liverpool gave corn strong start, but trade was slow and the market soon only scattered selling at first but as prices worked lower liquidation became general and the market broke precipi- tously. The greater part of the selling was attributed to the Pattens who are said to have unloaded the remainder of their long line. Corn, however, poured in from all directions, St. Louis in par ucular being heavy seller. Stop loss orders were numerous on the decline. There was feeble attempt made to ral- ly the market toward the close but iiaui- dalton was too heavy. The market closed weak. May opened IS higher at 63 to 6S Is, touched 63 1-S11-4, declined sharp ly to 61 1-2. rose to 61 S-4 and sold off again to 62 1-2. at the close. Receipts. 94 cars. Pt''
 Oats were influenced by the weakness Tn the other grains. At the start the market was firm but soon eased off ur1
 der persistent selling Trade was mainly m July. one Northwest broker buying at least 100000 bushels. May operated l,Sal.4c higher at 45 to 45 IA and de- clined to A at the close. Receipts 107 cars with IA contract. -O'
 LroVisions were comparatively steady whlle the grain markets were going through their liquidating experience. Bus. mess was dull, and a reduction in inc nog movement put a check on the desire 's uo o7 sell; May pork closed 10c lower at at 9.5O and May ribs 1-2 lower at s55 Estimates for Monday: Wheat, 30 cars: corn, S5; oats, 116: hogs. 4O.0OO head.
 1he leading futures ranged as follows: