The Montgomery advertiser., 1902-07-19
chicaeo Grain and Provisions

CHICAGO, July l0.-There greet ex- Southwest frightened shorts, who bid so fran ticaily to cover their outstanding accounts that prices, especially in oats and wheat. lIt- erally soated. At top prices there was plenty of stun for sale in the deferred options and prices sakged somewhat. July deliveries. how eyer, nuctuated in fashion that would have prices were strong July oats closed 5% high CT. September orts lc up. July wheat 2S higher. September wheat 1kc up. July corn %c higher and September corn 1bc up. Provisions closed Tl4c lower to Sc higher.
 In point of spectacular display and phe- nomenal advances oats (July in particularly held the center of the stage. The cause of the stampede was the simple situation of a pretty tiskt trap The t' unfortunstes saw V no 7ther way out than to climb out at high point. and in consequence fought to save themselves. The rain was the cause of much of the trouble. From points near this .market where the grain is yellow. reports came in that whole fields were down and had badly twisted Receipts were only 87 cars, 25 of contract grade. Of these arrivals only seven cars were new stuH and these seven showed no It seefns impossible that with the cash mar ket booming and big export demand, there should be any chance of getting en ugh stan the current month Added to this news which in Itself twisted the market in spasms was the gossip that one house controlled all Platte of Evanston, who cornered May oats. had the new July shorts under his thumb
 
 the fact that offerings were scarce The open ing was wild. July (new) started SIC higher at s5i4 and touched Seh before a reaction 33d 334tc and easily touched 33K. After the first rush to cover there was lull and prices slipped back. Just before the close, however, July {now) was given another, severe turn and closed excited and strong. basc up at 57kc. september closed strong, lc advanced
 Wheat had a rush of buying orders to push prices up at the opening and a very western connections were among the best buy CTS and gave their reason for increased bids the damage to wheat in shocks by last nishte heavy storm July was in special demand and was bid up exctediy by shorts covering until 78c was reached=7a gain of 3hc over yesterday's closing figure Shorts were badly scared. There were several bearish in- iuepces At work! Cables were lower. but rallied. Receipts were much increasd and One statistical journal received bearish re- port and there was some selling as a result. The bulish incentives were the rain. de- pleted stocks of old stuff and remarkable shortage of contract grade stuff in the new receipts Today the contract grade equalled about 4 of per cent, as against 90 per cent tributed largely to the long and disastrous rainy season. Wheat that naturally would reach this center in July and was counted upon by shorts badly damaged by yester= days rains in Illinois, Iowa. Nebraska, Kan sas sna hspu nAst st onansS oIs san ma IS ,o % up at 72A to 72& and sold at 727s. Profit taking Oh the advance brought a reaction but the close was firm for September with hc gain at 72k@72%. July closed strong. 2%c higher at 77c- Local receipts were 23o cars, seven of contract grade and 222 of new stuff. Minn apolis and Duluth received lo4 cars, making total for the three points of 424 cars against 3l7 last week and 45S a year ago. Primary receipts e42. 900 bushels, against ,2i B. 900 bushels last year. Argen- tine shipments only 24. 900 bushels, compared to 7o4. 900 bushels last year. Sea board cleArances in wheat and flour equalled 3Se .oo0 bushels.
 Corn after an early spurt lapsed into dull ness and huctuated narrowly. Receipts of contract Erade were materially cut down to- day, largely because of the decline in prices, 1t is thought. Selling the bulge brought a reaction And there little unusual about the market the rest of the day. There was a fair commission house demand for December to small extent. Cables were firm. July opened 2a.c up at 6S. on support. but reacted to 65%c on liquidation and closed firm. %c up at 66 September opened hmasc gher at 6lLGoIh and touched SIX. On the selling this option dipped to 6o%66ozs and closed only irile from hc up at 6lh Receipts were AS cars, 75 of contract. Total contract stun on the market amounted to about 25o,- 900 bushels.
 Provisions were depressed by early outside liuuidatioh but on bullish hog situation, packers gave the market some support and partial rally. resulted. September pork closed 7lSc, lower at SIS 471s; September lard un-
 changed at sII;o2h. and September ribs
 The leading futures ranged as fellows: