Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-07-21
Grain and Provisions.

CHICAGO, July 19.-This was another
day for squeezing shorts in the oats pit
New July standard oats were excitedly
bid up 81 to CSC, the highest price on
record since 1874. Aside from the large
short line that is held by one Of the pro-
fessionals was the principal cause Of the
gyrations displayed by oat prices today
was that of ruined harvest fields by re-
cent heavy rains. Other grains were bull
ishly affected by the rains but liquidation
caused reactions. At the close July oats
gained Z lac, September oats l-2c, and
July corn 1 SAC. September corn lost
i-4613-Sc, July wheat 1-2c, and September
wheat lac. Provisions closed IL to 15c
lower.
Oats-It was a wild day in oats. The
cause largely seems to be that there is
a natural corner in July new options.
Mayor James Patten, of Evanston, VINO
cornered May oats, is credited with a line
of nearly 100000 bushels of new July,
and inasmuch as receipts are very small
and contract grading much smaller shorts
are faring still worse conditions. Up to
a few days ago, promises for good oats
harvest came to hand repeatedly. The
cash demand, however, continues so well
that in spite of predicted bumper crops
prices continued to advance on the sample
tables. With heavy rains in the adjacent
field, and reports fallen and twisted yell
low grain, shorts became panic. Shorts
bought freely and were hardly apprecia-
bly, affected by the break in wheat and
corn. At all times they are hard TO buy,
and the demand is almost in excess OF
offerings. Trade in July was not ex-
cessively heavy, the price being put by
moderate purchases.
Prices, however, fluctuated 1c or &c at
Jump. July opened 3-4c up at COO, dip
ped to So lie and then jumped to Csc.
The close was very strong, lac to at
"a 1-2c. September opened IA to 5-Sc
higher at IS 3-4c to "a 1-8c and sold at
"a 3-Sc, closing firm 1-2c higher. Re-
ceipts were small at 81 cars, Is of contract
grade.
wheat made very good advances early
on the weather reports and light local
contract grade receipts. July in particu-
lar was strong and was bid up by
frightened shorts. Gables were indiffer-
ent Most of the wheat east of the Mis-
sissippi and on the Great Lakes is dam
aged by the rains and more showers were
predicted. Trade was only fair after the
opening furry, and when 1t was learned
that the primary receipts were 1.155.0O0
bushels against $4,000 bushels last year
the southwestern houses began. selling
freely and sentiment turned rapidly bear
ish. St. Louis led in the selling. July
opened half cent up at n 1-2c, jumped to
70 and sold 1-2c up to 76 1-2c. September
70 Is, sold at 70 1-Sd1-4c, but slumped
to p 1-S and closed weak, at q 1-4q2-Sc.
Lacol receipts we're $50 cars, q of con-
tract grade. Minneapolis and Duluth re-
ported 2T7 cars, making a total for the
three points of 457 cars against 341 last
W 'ek. and 551 a year ago. Seaboard
clearances in wheat and -four equalled
35S, 900 bushels
Corn was bid up well at the oart in
sympathy with wheat and oats and on
the rain influences. The market, how
ever, was poorly supported and there
was a slump in prices until deferred flu
lures closed under yesterday. There was
little feature to the market aside from
the covering and trade was light. SEN
timent inclined to the bear side and all
locals sold rather freely after the initial
bulge. July opened 1c up at 81 and closed
3-4c up at 81 ga September opened
IA to Csc up at 81 1-2G61 5-s and sold at
81 "a, but dipped one cent from this price
and closed weak 1-463-Sc lower at 60 rs
6161c. Receipts were AS cars, I20 con-
tract grade. Total contract stuff was
ZOO 900 bushels.
Provisions were subjected to free sell
ing by brokers for unloading packers and
IN consequence of a concerted effort to
break prices, both % the board and at
the yards slumps resulted. Hogs were
few but brought lower prices. Septem-
Der pork closed 10c lower at 1857 1-2:
September lard 15c lower at 1857 Ia, and
September ribs 1-2c down at 5000.
Estimated receipts for Monday: Wheat,
40 cars; corn, $50 cars; oats, los cars;
hogs, 5000 head.
Hogs for the week, 115,0O0 head.