The Montgomery advertiser., 1902-06-08
Ch;caeo Grain and Provisions

Chicago, June 7.-Excessive rain was a
 hugaboo of the grain bears again today.
 but this session, cables also told Of the same bad weather abroad. In conse- quence a little support in a dull market was sufficient to bring strength. ana July wheat closed 3-Sc up, July corn l-ft3-oc higher and July oats a shade down. Pro-
 visions closed a shade to 1-2c up. Wheat took a strong grip on the market early and worked its prices somewhat higher on cables and fears of wet harvests. Tn
 France the harvest is almost upon them,
 and prices are advancing on an old pre-
 cedent that in former times wet weather
 such they are having hurt the crcp
 much. Here there were plenty or bearish
 influences, but additional rains after the
 already heavy downpours started cover ing and d good support. Bulls argued that the present low prices could be jus
 tifed only on the assumption that the yield was to be exceptionally large. There was very little selling pressure on the
 market early, and good buying came from commission houses. July opened 3-S to 1-2c higher at 72 IA to 72 3-8. and sold at r 12 Gradually the support of the larg- 1 CT interests was withdrawn. the report that cutting was being done in the south ern part of this State and that the wheat would be on the market within week. | led to some selling, and July slid off to | n 7-SM72. After that the market sagged | narrowly with d small upturn on liberal | seab ard clearanceS of wheat and hour. which amounted to 620,000 bushels. The close was firm, July 9-Sc up at 72 1-4c. Local receipts were seven cars, one or | contract grade; Minneapolis and Duluth | reported 244 cars. making total for the | three points of 251 cars, against i92 for | two days ago and 439 year ago. Pri- l mary receipts were 47J.000 bushels, com pared to 410.00O bushels last year.
 The seaboard reported i4 loads taken ] for export Corn was dull but firm all day. The wheat strength, together with the strong cables. influenced an upturn.
 as did the talk of poor cultivation of the growing plant because of the wet fields. | The leading bulls gave some small sup | port, and St. Louis bought July fairly. | Prices held well, but there was decided | feeling that with the possibilities of a | Most of the day the crowd was guessing | at the attitude of the leaders July sold | between s S-S and 63 7-S, and closed firm | IA to 3-Sc up at 63 Is. Receipts were
 liberal at 337 cars. Liquidation took some | of the strength out of oats. Almost ev- | cry influence in the pit favored the bulls; | samples are al premium over the 1u- | lures. the cash demand is still very good: and there is q dangerous possibility o1 | damage from wet weather. Receipts also | are light, with small percentage of con-
 tract stuff Today commission house
 business Was fair, and July opened 3-Sc | Higher at g 5-S, and sold to % 3-4. Trade | was active, covering short accounts
 brought strength. but buyers of new July
 around 36 realized their profits, and after | the bulge prices eased on an absence of | support. July closed barely steady, d
 shade down, at 8 Is to 8 1-4. Receipts | were 112 cars.
 l Provisions had dull~ and artificial trade. The hog market was slightly | higher on a smaller run of hogs. This 1 gave the packers d reason for manipulat- | ing prices q little higher for the purpose
 of unloading on the outside. Conserva-
 tive traders say prices of all provisions | are much too high. particularly in the l late improved receipts of hogs of better
 quality. January products are now sell
 ing on the basis that hogs will cost to | 6 1-4c. Outsiders, understanding the
 manner in which packers are manipulat- l ing the market. are staying out. July
 pork closed steady 1-2c up at $17.42 1-2;
 July lard shade higher at $10.25 to
 S1O.27 1-2. and July ribs 1-2c higher at | Sl0.17 1-2. Estimated receipts for Mon
 day Wheat 30 cars: corn 425; oats, 1SO
 cars hogs. 45.oo0 head. Hogs for the
 week, 115.000 head
 | Thl leading futures ranged follows: