The Montgomery advertiser., 1902-05-06
Chicago Grain and Provisions.

CHICAGO, May 5-Acting on the belief that the drought rules in grains is over, sp"cuia-
 were registered in all pits. It was clearly
 day governed by the disappearances of the dry
 weather bogey and at the close July wheat
 showed loss of ih July corn ss@%t and oats
 Ac. Provisions closed shade to Dc lower.
 Bears started fin to dominate wheat at the
 sound of the opening gong Bearish news was
 ceipts were Improving, but greatest of all fae-
 tors were the heaviest rains that had come
 to the relief of Kansas and Nebraska. Prt-
 vate wires had reports, of crop damage as
 usual but the trade came to the speedy con
 viction that all was not lost in the south,
 west. Estimates of the Kansas wheat yield
 that had been as low as 25ooo 900 bushels
 a week ago were raised today by conservative
 people to 50. ooo. 900 bushels Moreover, sta sta. :.
 tisticians were showing that with 5vfS that
 small yield the Kansas crop would be more
 than average. Under these influences some
 heavy lines of long wheat owned locally went overboard and St. Louis and Kansas City sold
 heavily both here and in their own weaken-
 ing market. The only governing buiiish factor
 was fear of more rain in the 5overseske'i
 Spring wheat country. July wheat opened ll. Giss to a.@7sc lower at 75aa7SA touched
 was large short interest in wheat ard on
 the decline many of the offerings were ao-
 sorbed to cover accounts. Prices for July raj
 lied to 75c. but the close was weak l1sc lower
 at 747sG75 Local receipts were 2l cars, two
 of contract grade; Minneapolis and Duluth re-
 ported 294 cars. making total of 3i5 cars.
 against 253 last week and 4lS year ago.
 Primary receipts were 4os. 900 bushels, com
 pared with 6o9 900 last year. Seaboard clear,
 apces in wheat and flour equal sd -oS4 Ooo
 bushels. Worlds shipments were S.oOS,Ooo
 bushels. against ss0, 900 bushels year ngo,
 Breadstuffs on passage increased i2o'o0o
 bushels. The visible supply decreased 2 l2.
 900 bushels. The seaboard reported 2s loads taken for export
 Corn ruled weak the influence of rains and the depression in wheat The Southwest ern markets selling literally and were weaker, Kansas City being Pc on at one time and at a discount under Chicago prices. Long corn was dumped freely in the pit and traders everywhere argued bcarishly because Of the good growing weather. The rains have start ed farmers to giving up their corn stores more literally Rumors current that some deal in this pit, but shorts continued t0 sell to some extent. Cables were weaker and influenced dips and receipts were more lip- eral. July corn started AaAc depressed and slumped to 6ok, a loss of | %. There was a rally to 6Ic covering, but the close Was weak July Ss@%c lower at 6o%G6oh Re cepts 70 cars.
 under the influences of the breaks in other grains this market declined steadily. Trade was not large and cash business was improved but offerings were increased on the general good crop news. Receipts were much larger than of late at 232. July closed < lower at 35ia. ,, , Steady hog prices at the yards held prices of provisions from slumpng in the pit Fro ducts were inclined to follow grains in the down turn and longs started in to liquidate. Packers gave some support. buying lioeraiiy of lard. The close was about steady July pork closed a shade lower, at Sl7.lo; July lard 2lsc lower at $lO. i7l2, and July rios Sc down at Se. 5o@e. .52z
 The leading futures ranged As foiiows'