The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-05-14
Chicago Grain and Provisions

CHICAGO May l3-This was the day for
digestns the Government crop report IN inc
grain pits and although the statistics onered
by the department were materially buil1sh over
the last observations, the crowd as usual as
condition than did the Government and paid
only passing attention TO 1t. Other conditions
of bullish character helped prices ana aItet
a nervous and haggling session July wnet
closed sc higher July corn &c up ana jury
oats shade higher. Provisions as OF late
showed Independent strength and closed 9u'oc
At the opening of the wheat pit there was
something of a contest to decide Whetner tne
Government report should be considered as II
appeared, bull argument. or whether the pc
partment of Agriculture did not KNOW us
business and the report should De diseG h, Gu
the situation. The reduction OF the winter
wheat condition on May ! to 1858, as against
asa A WAS y eot af he faos that the
observations were taken before the receht
relieving rains in the Southwest had greatIy
that the actual condition should pc peaflsh.
The reduction of the acreage by 4,646. ooo was
considered decidedly bullisn but many OF sS
to believe the figures as trustworthy. IL was
simply another of bearisn conception OF
the Government report. Notwithstanding tnis'
the market did show good tone at the open
ing The bulls had the ascendant and July
wheat opened ,.@S to @,sc s slsner h az
came the expected selling. There We're severai
dips and recoveries and July sold under yes,
| ferday at TbN0TS12c. Inc OpitioH
for a time that no really believed tine re-
port and selling was marked. especiaIiy rom
the Northwest. Outside markets spurteo cary,
but sagged off later and the TENDENCY was
for the market to get back to statistics TOT
its guide Receipts were very small braa,
streets reported the ao nanss ana contract
There was some rain Northwest that he,pso
got literally short Of stun. Then came some
fair export business and the crowd got fright
ened. 1t soon appeared that me ma.kes borts
oyersold and prices advanced rapidly as shorts
covered July gained its top igure again ana
closed firm ssc higher at 76%dIol1c' Local
receipts were SO cars. one or contract grace
MnepapoIis and Duluth reported only e5 cars;
making a total for the three points OF Us
cars against ISL last week ana o Ky hs,,Se.
com Compared to So 600 last week s sas oad
clearances in wheat and -four equalled so9,o
bushels. The seaeoard d re pom southern Iii
| nois stated that harvesting would pes'n 'here
Corn had the support of wheat to help y
asainst the depressing influence of dull
| trade and favorable crop reports MOST Oh tt
day spectators were either IT, ~a ,arnst or were
| catching the action of the wheat pit. FIRM
| or cables and bad weather Northwest zen
| strength TO the market and at the opening july
soIS 20 "a There was almost no selling pres
sure hut when wheat sagged on corn wen
down to e2Ha62% There was s i la.e mn ,ea s.
s so. Receipts we're 1911 cars. Only IS cars
| a0ats followed the action of wheat ana corr
and ruled duli most of the session. There wa wa
a light demand early that sent July Mo. to s On
| na7N but the bull manipulator OF may UP
,,ons was selling freely, some new oats l, on
Texas finding Their way here noa aeS pr Ws
dipp s, oi shade up at 37Ac Receipts were
| 236 o,.ad strength agair
on %n,t ofsepinss and packers support. Commits
bought pro sasns e0 aool
| ION III ~, the gain but the close was hrrn
I In,y so pork closed Sc up at sz47t; July lar,
is higher at s SIG % sa s7ssa g "a ana '''
Tn. leading futures ranged as follows