The Montgomery advertiser., 1902-04-15
Chicago Grain and Provisions

CHICAGO. April l4.-Speculators In grains were badly scared over the continued Dulgas in the Southwestern markets and fearing pos sibe manipulation of the market by puils in it's present peculiar condition bid pflces Up cents. Wheat had an early beaiish tendency: but had to follow the corn lead and jumped @ Ic All nts showed ,c,ar marked f,sr sr'y the eaiy excitement conditions became somewhat nor maj and May wheat closed a.c lower. May corn z higher and May oats llc up. PROVISIONS Shorts fin the corn pit were the cause or the panicky action in grains. At the start mere the easy feeling in wheat. It took only few spurts of the St Louis market. however 10 create a strong demand by the unfortunate early sellers. The naturally buliish situa- ton the corn trade with continued reports of depletions of stocks at all prominent cen ters and an improving demand, scared the shorts badly. The rumor that was started in March of a possible corner was renewed agaln and a hot start resulted. Great buying force was under the cereal and prices were rushed up Pc almost before the market was well under way. May opened isc higher to isc This was an advance of about 6c over the low price the decline of a week or ten days ago. and of almost 4c since Saturday morn'ns. St. Louis was buying here supposedly 10 finish the covering of the big short line ne- gun Saturday. Offerings were not enough to supply the demand. Everybody in the pit was nervous Trade was guess work all around
 Alter the early excitement. there was con siderable selling by people who thought corn
 
 Business quieted down. and as wheat reacted from It's sympathetic higher prices corn eased. Liquidation at the top prices brought good profits There was good demand Tor the cash article. which together with strong cables helped in putting a buish interpreta- tion on every bit of news. Traders in all pits were talking of the remarkable outlook for speculation and manipulation in corn News continues to arrive of farmers feeding corn to stock because advanced prices in cattle and hogs make good profits May corn at south
 western markets is lasc over Shicaso , busheis-now :, 500 ooo bushels, against 22.- ooo. 900 year ago. The country traders say. must have Chicago corn and there is little of that. After high prices May corn sold on to SIS. but rallied again and closed strong a.c up at 62iH-Rcceipts were only 5S cars.
 Wheat started out with a sickly aspect on ulre sponsive cables. and rains in the South western wheat country. May Jpened tsa < lower at 72ssm73. but at once felt the intiu- ence of the soaring corn market. In very short time covering and an investment demand sent May to 73ss. As corn began it's decline
 after the opening bulge, wheat eased of Then bis line sold for $ leading bull professional and the ''tailers hl"d in 10 sell. the market 'slumped off below Saturday g close. The Southwest s'ld here and those mar | kets were lowc:. Commission houses were on both sides of the market. but principally sold,
 I.iauidation for profits oon vas ooo yery p9pnIar: | little more than expected, but had no effect. | Trade was active May closed weak at its
 lowest point s4e on at I2ss' Local receipts | oils and Duluth reported l73, making total | for the three points of 2o9 cars, against 2S7 l last week and 400 year ago. Primary re | ceipts were 3os, 900 bushels, against sos COG l bushels last year Seaboard clearances in
 wheat and flour eaualled 27l 900 bushels. The l British budget presented today imposing an l import duty equal to about Nc a bushel on | wheat and equivalent duty on -four was 8 | weakening influence. Worlds shipments were | 8.o62 900 bushels. compared with Q. 66 oOC | bushels last year. On passage breadstuffs de- | creased 576. 900 bushels
 | Trade in oats was fair and the corn In l nuence prices advanced May and July were l bought literally by receivers and commission | houses Offerings were small. The crowd usu | ally in oats devoted much of its time to corn | The prospects of more liberal receipts caused | some selling May started unchanged to | | up at 42d42ik. sold to 43 and closed 'ac LII
 at 42ie. Receipts were l5l cars.
 | Provisions had fair general trade. Hogs | were steady but the demand for products wa: | good and packers supportcd, Commission
 houses were also buyers. The tone was strong | CT all day but realizing on the advance | knocked off some of the gain. May pork closeC | Sc up at SIG. 82la. May lard a shade lower | at Se 72ia and May ribs Sc higher at S9. q :.
 The leading futures ranged AS foilows'