The Montgomery advertiser., 1902-05-17

CHICAGO. May I6.-Good crop prospects
ruled the quiet grain pits today Trade was
although wheat had few bullish influences
lower prices were the general rule. July
wheat closed &c lower. July corn %97sc lower
2Aa7,1c depressed.
Early in the session wheat showed some ten
dency toward good bull movement. Cables
were higher or steady regardless of our losses
yesterday. Receipts in the Northwest were
still very small indicating the bulls said. an
ers' hands. In addition to this rain began
falling again in the Northwest and in the
Red River Valley told a very bullish story of
delayed Spring seeding. Offerings at the open
Ing Improvement were not sufficient for the
small demand and prices were sent up to
~ Hg1SSc for July after opening a shade
harvest news, however, was promising. The
Northwestern curtailment OF receipts were be-
Of much Importance was the fact that excep-
tionally seasonabe weather in most of the
country was keeping the outsider from the
market. As a general rule, the farmer never
sells stuff short and the fact that be is not
buying has Influenced many spectators to
the bear side in general crop prospects. Fur
milers made report of the condition of their
State crop indicating a yield of 90. 900. 900
bushels-auite bearish advance over the re-
cent scare Of a reduction to IS. 600 900. These
bearish factors In the end served to start some
fairly active selling There was little support
most of the crowd waiting for leader.
at 74HG75. Local receipts were 20 cars. 8
Of contract grade; Minneapolis and Duluth
reported only 80 cars, making total for the
three points of 100 cars. against 2o4 last
were les 600 bushels. against sos, 600 bushels
last year Argentine shipments were $4,000
bushels. compared with 776.o 600 bushels a
year ago Seaboard clearances in wheat and
flour equaled 400. 900 bushels. The sea5oard
reported three loads taken for export.
Corn showed weakness all day. Gables were
lower to start with and from everywhere came
reports of favorable weather and promises of
bumper yield of corn this season. The cash
demand was slow and what there was of 1t
was being hlled easily: Freer offerings Of cash
stun was reported from interior points of
Iowa and Illinois and receiving houses were
moderate sellers against purchases in the
country. The bull party made no apparent eff
fort to support the market and the demand
came chiefly from shorts with profits Local
receipts showed far but little inclination to
increase. but tips from the country insisted
be 200 cars where now 1t was generally below
so The late trade was much restricted but
the decline was steady. July sold down from
e22s to weak close; a.Q% lower at $3.50
62b. Receipts were So cars.
Oats were very dull and made almost no APP
probable change. There was no outside bust
ness in the pit and the local scalpers were
waiting developments There was a general
disposition not to sell short much further un-
I'll more decidedly bearish news came to hand.
The moist weather Northwest deferred bears
July new sold at 36N and closed MqAc up
at 36ea36%. Receipts were 100 cars.
Provisions ruled weaker and needed the sup
port that came early from the crowd heavily
hogs at most of the Western packing centers
and the lower prices at the yards induced lib
eral selling. Trade was rather quiet. July
pork closed NC lower at sI7,35; July lard
up at So 7oG9 72h
Thu leading futures ranged as follows: