The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-05-13
Chicago Grain and Provisions

CHICAGO, May l2.-Active covering OF short
fccouats on very tullish statistics jumped
prices upward in the grain pits today aad
relieved the otherwise monotonous quiet that
usually prevails on the Board of Trade while
spectators wait for the Government crop re-
port, continued absence of selling pres
surg also helped prices and July wheat closed
higher p sns fug
and closed a shade lower to l2lsc higher.
AT the outset wheat trade was dull,
though slightly irmer affair, pending the Gov
eminent report of the crop condition AMI acre
age May I. Cables were firm and world $
shipments and the ION passage decreases
were bulish. Some small buying was done
for an hour and then conditions became such
that buying set in in good fashion ard the
wheat were reported much decreased. the Wis
ible supply being decreased 3,o26. 600 bushels
compared with so7. 900 last year Exports
were very heavy, the seaboard clearances IN
wheat and flour equalIng t.27oo 900 bushels.
This started shorts to covering freely. especial
ly leading St. Louis houses. For the third
consecutive day there was an absence of scfl-
ing pressure and prices advanced fairly. Con-
traly to the usual action waiting the Gov7
ernment report, trade frightened and grew
active A report current in the pit that the
forthcoming report would indicate cnndi-
ton Of y 3 as against !s.7 on Aprn gained
were discouraging reports OF chinch bugs, in.
sufficient rains and extensie blowing up OF
wheat fields in the Southwest. The IDEAL trade
opening a shade to 1sc up at 75tIT5%c. Com
mission houses and big traders who bought
tone eased OF little. The close, howecd.
was still strong. July NC up ut 75sg765s,
Local receipts were small at y cars Mime
total for the three points of 264 cars
against sl5 last week and go 90 q year ago,
primsrs reeepts o Uere a Sn ous s%is
ments were 7.7e4,ooo bushels, against g.,
AIS. 900 last year. On passage breadstufis de-
Corn traders paid little attention to sta
tistics. which IL anything. were rather bear
ish and bulled the pit all session BUYING by
the big bull interest and short covering were
the incentives. As for several days past there
was again no noticeable selling pressure. The
sentiment bullish all around and was
helped by firmer cables and the better tone in
wheat. number OF heavy buying orders for
the st. Louis account early stampeded the 10
cal crowd who soon turned to competing with
that market for the very small offerings,
There were some cool dry weather advces. hut
otherwise news was largely OF routine chars rae
corn from6 &to $50 there was some late
profit taking and the market lost part of its
strength July, however, closed firm. sc up
at cps Receipts were 95 cars.
Oats were inclined to dizziness. although they
made fair advances on the strength in corn
and wheat There was fair demand from
ST. Louis and the English houses and marked
reduction in stocks gave the market hullish
aspect Shippers were taking some stun and
about the only selling was bv scalpers. Chinch
bugs were reported in thesscentral states
July opened UNCHANGED at SIC; sold 10 81 )
and closed frIn. isn4c up at SIls4S|l4c. Re
ceipts were 26 cars.
Considerable profit taking. after prices had
been manipulated 20 the highest level for the
year. took OFF much OF the gain made in pro
visions today, Hogs receipts over the West
were large and prices were from to Toe
lower But in the face OF this bearish arsu-
ment brokers for packers pushed July pork
up to Sl7.6o. Other products on the list ad.
vanced in sympathy and then good deal OF
stun was thrown overheard Prices recede J
pork closed I2xc up at Si742iz, July lard
a shade down at $40. 22i2n | 0. rs, and July
ribs unchanged at S9.62il. ..
TIL, leading futures ranged as follows