The Montgomery advertiser., 1902-04-18
Chicago Grain and Provisions

CHICAGO. April I7.--Grain spectators who innocently believed in the mythical stories retailed yesterday about drenching rains in the suffering wheat country found out today that they had been caught mapping: The result one of the excited bull aikets the pits have seen since the recent upturn. Wheat led in the activity. making an early jump of almost 2c Heavy profit taking brought recessions in all grains but the buh, ish sentiment prevailed and May wheat closed i4c higher. May Ssc higher and May oats lsc up Provisions closed 2'2a De ad- vanced.
 I'p to midday the trade in wheat was an anxious effort to undo the errors of "esterday. The bears who plucked up courage to sell short heavily at yesterday's close and pressed prices back, changed front at the open ng when t was lealned that the rains reported yesterday were by no means sufficient to the needs of the Winter wheat crop Cables were lewer at the start and Northwestern farmers were reported making better deliveries of wheat The general outlook. however, was de- cidedly bullish and at the very start of the gong there was an exciting rush to buy May wheat opened 12d7sc higher at 73t to I4ls and in a very short time was rushed to 75c Here trade eased off d little and prices hung Such bulge naturally brought out large quantities of long stuff for good profits. St Louis was very heavy seller. Oddly enough the selling was augmented by now repol ts or Western rains The general sentiment of the crowd voiced rather accurately by prom incnt statistical journal which stated that the cool weather retariing wheat growth and was to some extent prejudicisl The mnis- ture is deficient and the Weather Bureau pre-
 
 found comfort in the fact that Kansas City | prices had widened out tn 4'7m5c under Chi l 6aso prices against 3'. under few days ago, 1 II argued that Kansas was showing no | fear of drought damage Some of the reports | had effect for May broke slowly and sold down l to 737s At this price, however. the buying s.de favored and good rally set in, May | closing strong, i1,c higher at 74'2. Local re ceipts, 46 cars, one of contract s'ad"' Minne- | apolis and Duluth reported l6l cars. making
 total for the three points of 2o7 cars.
 against e4 last week and 272 year ago.
 pared to 36l 900 bushels last year Sesboard
 clearances in wheat and -four equaled 247. 900 1 bushels.
 Corn had little to help it upward today aside
 from the general buish situation. Although
 there was bull market most Of the session | it was rather forced affair. Cables started l out lower ground breaking was reported going l on well and trade was only fairlN active. Yet | the wheat strength and the weather condi- | tons were bullish incentives. The failure oi l the big Western corn States to get rains was | bulish because it suggested possible trouble
 for the crop later On the other hand irporti
 were circulated again. claiming that liberal | country offerings of corn. Coa4ide' ing the l strength of wheat, the small receipts at Kan, 1 sas City and St. Louis and the big demand for cash stuff. corn did not act woli. News | front the Southwest was hnllish, hut reported | selling by big commission house checked the | advance. May corn opened E to 'ac higher al | 6ITsGe2n sold as low 6la.. when wheat
 cased off aud reacted to 62ts closing firm ant
 9sc higher at 62Ss Receipts were only 5e
 There was better trade in oats than for some l time July and September were in good de
 mand on reports that the weather was retard
 ing plant growth. Offerings were fNw anf | the wheat strength contributed to the better
 tone May was rather steady and little deal
 in though slightly advanced on moderate cast
 business May sold between 43 and 43l2 l closed lac up at the later figure Receipts
 were somewhat increased at 22l
 Provisions showed inpro' cment after yes
 tcrday's 'iouilation StrenGth in grains am
 the small run Of hogs at the wards Influence | fair buying. Packers also supported Scat
 tered selling bv local Scalpe s in the Wa l Of profit taking took off some of the gan
 May pork closed 5c higher at SI6 92'2; Ma
 lard 2iec up at S9 721s, and May ribs loc Ill
 at Ss 25