The Montgomery advertiser., 1902-07-03
Chicago Grain and Provisions

CHICAGO, July 2.-The grain markets were distinctly quieter today, although nervousness over the weather and the crop damage was still apparent Signs of clearing weather in the West were influential in checking ad- July wheat closed r higher, September wheat $ lower, July corn % up September corn h lower. September oats down. Provisions closed 21s lower to 2lz higher.
 When trade in the wheat pit began, there was more rain to consider, showers having fallen literally during the night Commission hour advanced to 75h475&. This proved to be the highest point of the day for this op- tion. Shorts seemed to be pretty we'll covered. thanks to their strenuous exertions of yes terday. and scattered reports that the weather getting clearer in the West found the market ready for a reaction. Local bears sold liberally and St. Louis added to the pressure The quantity disposed of was not heavy, but September gradually receded to 73%. Here the pressure eased and thereafter the market ruled steady At one time September got back to 74%. but the close was < under yes terday at 74674h. The high point of July wheat was 771h. This option ruled compare lively stronger than September owing chiefly to the action of an important house which sold September and bought July. July. how. ever, participated in the easier tendency and following the bulge worried down to 75%q 75%. The decline was largely due to profit taking. and when this let up prices steadied and the close was h over yesterday at I6b. Seaboard clearances were 32s;ooo bushels pared with 552 900 bushels last year. Local receipts were 34 cars, one of contract grade, while Minneapolis and Duluth report 227 cars. making a total for the three points of 26l cars against 305 last week and l7l a year ago.
 The July deal in corn was comparatively neglected; not more than 50. 900 bushels were handled during the entire session. The small est packages of thls option were sufficient to cause wide fluctuations. This market, like wheat, ruled strongest early, while the effect of last nights showers the chief consld- eration. The trade In September was only fairly active and during the afternoon 1t bc- came quite dull. The ''it looks like clearing up messages, which were early scanned, joined with the natural tendency to take profits while they were sure kept the Sep tember price down. July stayed well up be- cause the firm which has the supply tucked away did not choose to sell 1t any cheaper. July sold between "A and 76k and closed TX higher at 75&. September sold between 62es and 63h, closed A under yesterday at 62& Receipts S6 cars. There were transferred to public eleators 1 cars of contract corn. Oats opened higher with the other markets | but developed an easy undertone earlier than | the leaders. The easness was due chiefly tc | liquidation by interests which bought freely yesterday. There was also selling in sympa- | thy with the other cereals There was a good | trade scattered throughout the pit. September | sold at 35636h and closed steady. 4 lower
 at 35N; receipts were lo3 cars.
 | Provisions were dull but steady in the ab- | sence of selling pressure almost entirely in | the way of changing. September pork closed | 2la higher at SI0.S51s; September lard 21s lower at Slo7o and September ribs un- | changed at SIo.67ia.
 The leading futures ranged as follows;