The Montgomery advertiser., 1902-07-29
Chicago Grain and Provisions

CHICAGO. July 28.-Oats had anather sen- i2c at one time There was nothing par ticularly eventful in the trading thus af- fected but tho weakness naturally had an influence on the other pits which had bearish incentives of their own. Principal of the bearish influences was the burden of some of the quantity of new grain being rushed to easier tone yet with shorts % stil e at war Ma July lower July corn 2c down. September corn jN down, July oats Sc lower and September oats hc lower. Provisions closed 5@27hc
 In point of spectacular display the oats pit still held the attention of traders, although news of little moment The violent action of the July market Saturday was still In mind ana and many many sPecuiators were of the belief that all the more credence when the first sale of July standard was made at loss of Sc from tcaiiy nothing was done ,n th,s M option RrSs TSen on the selling of a few "fives'' the price tumbled headlong in dips of i@2c until 55c was reached The general condition of other options did not warrant this great weakness Much oats was being rushed here to market and the grading was much improved There was fair demand, however. in the farther months and this put a check on the decline The speculative talk today was that New York clique and @ big local commission man, who controlled more than James Patten, IS said to hold of July were letting the market alone os that the extremely heavy receipts
 
 prices September was very narrow. selling down from 33 to 32M and closing only easy. Ac down at 32%: July rallied little on cov- ering of several smaE short accounts and closed 9c down at 58. The fluctuations in July were abnormal, but caused little excitement speculators taking 1t for granted that they would be very wide in such narrow market Receipts were heavy at 349 cars. Estimates still were heavier for tomorrow at 67o.
 Wheat figures indicated weakness but aside from break In July the market held up fairly well under the load of grain pouring into all markets in the country. The cash demand was poor, cables were much lower and good conditions were reported abroad. Re- ceipts were larger and estimates for tomor- was bearish and was augmented by the amount of contract stun turned out for July con- tracts today by private elevators. World 8 feeling in wheat was that the quantity of wheat coming to this center was becoming very luth worked 20 carloads of stuff direct for export. The weather map was still showery and although not very unfavorable was still were improved, receipts totallng 6o2. 900 bushels. After there had been a dip all around some small buying by influential houses turned September back and helped July a trifie. Possibly the hest influence was good buying here by the Northwest. September dipped to 7o% and closed easy hc down at 7oM97l. Receipts, 236 cars. l2 contract cars. a total for the three points of oSJ, against 49e last week and siT year ago: Primary receipts were ,590, GOO bushels against ,606, GOO last year. The visible sup ply decreased I7e. 900 bushels. Worlds ship ments were 6.94o 900 bushels, compared to 5.6e3, 900 last week and g. .se3 900 last year.
 Corn was only active in spurts and was hammered into a weak condition. Receipts were fairly liberal. but estimates for tomor- row were very heavy at 34o ears. Selling was general and a good many stop loss or ders came out. Profit taking was the principal influence that steadied the market after the early weakness. Cables were weak. crop re- ports were good and a bearish sentiment pre- vailed. The demand was light all day and the only support came from the party that was pulling July and had gone short of September a hedge. Buying on the weak spots of September by this house helped prices. July sold between 63 and ST and closed weak Pc lower at the latter figure. September sold from 59A to 57H and closed weak, l1Sc down at 59h. Receipts l77 cars.
 Provisions were inactive, and declined some what on free outside liquidation and in sympa- thy with the corn dip. Good buying of lard early sustained prices for a time, but the close was weak. Hog prices steady to firm September pork closed 27hc down at Si7.o2ie. September lard Dc lower at Sio 72h and September ribs Sc down at Sl035.
 The leading futures ranged as follows: