The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-07-20
chicago Grain and Provisions

Chicago, July 19-This was another day
Cor squeezing shorts In the oat pit. New
July standard oats were excitedly bid up.
Z "a to CSC, the highest price on record
since 1874 Aside from the large short
line that is held by one of the ieading
professionals, the principal cause oI the
erratic gyrations displayed by oats prices
today was that of ruined harvest heids
BY reason of the recent heavy rains 9th
er grains were bullishly affected by the
rains, but liquidation caused reactions. AT
the close July oats gained TIA, September
corn lost i-4d3-S. July wheat IL and Sep
TENDER wheat lac. Provisions closed IL
@t5c lower.
1t was a wild day in oats. The cause
largely seems to be that there Is nat
James Patten of Evanston, who cornered
May oats Is credited withN q line OF near
ly 100000 bushels of New July and mas
much as receipts are very small and con-
tract grading much smaller. shorts are
fearing still worse conditions up {"
few days ago, promises for good oats
harvest came to hand repeatedly. the
cash demand, however continues so Wen
prices continued tO advance on the sam
pie tables. With heavy rains In the ad-
jacent fields and reports of fallen and
twisted yellow grain. shorts became pan
Their options advanced sympathetieally
and were hardly appreciably affected ny
the break in wheat and corn. The near
months have become very scarce At all
times they are heard to buy and the de-
mand Is always In excess OF offerings.
Trade in July was not excessively heavy,
the price being put by moderate pur-
chases Prices. however, nuctuated &c OF
&c at jump. July opened 23-4c up at GU.
dipped to 50 1-2 and then jumped to Soc.
The close was very strong, Ia up at
81 Ia September opened 1-4Q5-Sc higher
at 333 4 60 81 is and sold at 24S s. closing
Awvx, o. hi ul1n Az we
small at 81 cars. Is of contract grade
Wheat made very good advances early
on the weather reports and light local
contract grade receipts. July in particular
was strong and was bid up rapidly by
frightened shorts. Cables were Indifferent.
Most of the wheat east of the Missouri
and Great Lakes have been damaged to
some extent by rains and more showers
were predicted
Trade was only fair after the opening
furry, and when 1t was learned that
the primary receipts were. ], 1856 600 bushels
against $500 bushels last year, the
Southwestern houses began selling freely
ard the sentiment turned rapidly bear
ish. st. Louis led in the selling. y uly
IS and closed 1-2c up at 76 1-2. Septem-
Der opened 3-S01-2 to 1-2Q5-Sc up at 70 to
rs Is. sold at 70 1-S0TS1-4. but slumped to
70 Is and closed weak lac lower at
u l-4172 3-S. Local receipts were $50 cars.
"a of contract grade Minneapolis and
Duluth reported 27 cars, making aatotal
for the three points of 457 cars against
3H last week and 551 year ago. Sea-
board clearances in wheat and dopr
equalled $4,000 bushels
Corn was bid up we'll at the start IN
sympathy with wheat and oats, and on
the rain influences. The market, how
ever, was poorly supported. and there
was a slump in prices until deferred flu
lures closed under yesterday. There was
little feature to the market aside from
coercirg and trade was light. Sentiment
inclined to the bear side and all locals
sold rather freely after the Initial bulge.
July opened lac up at 81 and closed 81
up at 81 ga. September opened 1-4q3-Sc
up at 81 1l2@6l 5-8, and sold at 81 "a but
dipped one cent from this price and clos
ed weak 1-4d3-S lower at SO 7-S461. Re
ceipts were AS cars. 120 of contract grade.
Total contract stun was 100000 bushels
Provisions were subjected to free sell
ing by brokers for unloading packers and
IN consequence of a concerted effort ia
break prices, both on the board and at
the yards slumps resulted, Hogs were
few but brought lower prices, Septem-
Der pork closed 10c lower at 1887 H.;
September lard 15c lower at $10.S IL, and
Septen1ber ribs, IL down at $10.75. ar
Estimated receipts for Monday: Wheat.
170; corn, $50: oats. $50 cars. Hogs, 25,0OC
head