The Montgomery advertiser., 1902-06-12
Chicago Grain and Provisions

CHICAGO June tI.-wheat pursued zig gag course today as a result of the bullish
 higher and corn. aided by wet weather In
 some of the corn States and by a dint of more
 masce exer,on 6y m the ,n eg sr Sn's sanr Su
 in the end July wheat was %dhc, July corn
 ssc up and July oats .highr. Provisions
 closed sshade to 37t9c lower.
 Other speculative markets had to drop back
 and give wheat place today good array
 of bulish influence were at work Cables were
 of wet weather in the Central and Northwest
 ern States. but most important was the Gov,
 the June condition of Winter wheat at 76.
 as compared with Mays 76.45 when even S5
 had been expected. The second surprise in the
 report was the claim that the Spring wheat
 area reduced 2 1851 900 acres from last
 year. The Spring wheat condition was high
 at e4.4. but the sum of the report indicates q
 bushels. against 74S. o00. 900 last year
 This at, started covering and good buy
 though there seemed to be little effect on
 that score early. Minneapolis eventually led
 the bulge with sharp advances, % There was a,i, an
 on the buying side. France was bidding for
 stuff and cable, strength from Liverpool was
 largely due to the bullish French situation July wheat opened 1snh to 1a@Sse up at v 4s
 @7fs and quickly mounted to 72S. At this
 point the fair weather Southwest had some
 and prices tumbled back to TIB Ultimately, however. the crop report had a bpllish effect. | drop and July closed firm. asd1ac higher at 7t%. Much of the buying was of the beet character. September made fair gains. bu, July ruled strongest. Local receipts were 24 cars, three of contract gradc Minneapolis and Duluth reported i85 cars. making total for the three points 2oe cars against t53 last were 377. 900 bushels against 56 900 bushels
 last year. seaboard clearances in wheat and four equaled 4 8, 900 bushels The seaboard reported loads taken for export
 Corn showed good early strength when all
 markets wers on the up,urn s h support broI,a %as Weather conditions favored better prices as | did the smaller receipts. A good demand set l in early. especially for the deferred options. | July was somewhat cratic and nervous and prices haggled back and forth. Country ac- | ceptances were a little better but not liberal. l There is some hope of improvement in re ceipts There no mention of the corn crop in the Government report. but the weekly report stated that there was some suffering because of a lack Of cultivation: July sohi between 63& and 625s and closed firm on sup
 port. $ up at e3E. Receipts wern le4 cars
 There was slight dip in oats in the start on the bearish Government report. which in dicated condition of e0.6 and a probable yield of 8o5 900 900 bushels. Soon however. there was a support in the new July stuff that surprised even the friends of oats. The cash demand was good at about 46c good buying movement set in and there is little | for sale. This influence, together with other | grain strength, soon pushed July up and there vas little or recession on the subsequent wheat break July closed firm, %c up at 39A. Receipts 93
 Part of the looked-for reaction after the per sistent manipulation of provisions by packers | came today After yesterdays remarkable ad- | vance of 37i2c for July ribs the inside crowd | led by the packers unloaded on the shorts and | a break of S7Ihc followed. Hogs were firm | and helped in a temporary reaction, but prices | again dipped and the close was weak. Com | mission houses advise their clients that the | stuff is top-heavy, but at the same time they | say the packers put the price any place | that suits their interests. July pork sold al | top figures again reaching Sl7.90 and closed | 2lRc lower at Sl77o. July lard closed shade l down at SI035 and July ribs 37l9c down al | Sio.37h.