The Montgomery advertiser., 1902-07-30
Ch!cago arain aniI proviu,nna

CHICAGO. July 2e.-Bears were in full con- % %mol or all grain markets most of the day m m July where there had been Manipulation The whole grain 1ist wheat corn oats and smoherns weight of biF reesn 1aer nns the poets Of immense coarse grain crops. In July where sensational decreases were expected the bears were somewhat disappointd. Tn the other months, however, where prices were considered on fair commercial basis the drops were sudden and disastrous to the bulls and In all quite astonishing. Towards the close reaction set in in most grains especial " i in July oats. which had lost Sc. In the end
 a@Ssc. July corn 4c. September corn 2hc and september oats Nc. July oats closed 2c higher and provisions 5@35c down.
 Corn ruled consistently bearish fin all on- tons. Extreme weakness set in almost at the start of business. Heavy receipts and fine these was an almost total absence of support Apparently the Gates New York bull ciique have, as they announced, deserted the 1i,Iv deal. for. on fair offerinRs of this month there was rapid decline and q net loss of 4e from last nights close with the closing ings were so liberal in addition to the reports ot exceptionally large coarse grain crops that pect. Cables were indifferent, the cash demand fell off and general news of other natures fe vored the bears The big short interest in Sep was that this interest was so powerful that if was waiting for still further breaks Septem- Der opened h@Me down at 55 to STA and kept on constant decline until 1t reached ss& Estimates of only l25 cars for tomorrow checked this decline and September closed 94 contract grade
 Wheat showed much weakness early on the corn slump and lower cables. Receipts were liberal and for a time there was an absence of support that threatened a bad break in the leading cereal Predictions were for a record breaking crop Northwest. Locally the sentf- ment was very baarish and the crowd sold al most to man. The Southwest, which received heavy load today. sold freely. Stop orders were met in abundance the decline hyIf as soon as these were exhausted the tone iin- proved. The pressure lifted and excellent buy ing by influential houses aided the pit in fair reaction. Lato seahoari snles of AY loads augmented the rally Tuiy, which of rather narrow. opening H@Nc down at 7sS as% t:;a. and nd, after dipplns to 72% closed only cnened Han to Xgssc dowS at zopSs pIs7iSer 1nss sold to 70 and closed Its1Sc down rather weak at 7o% Business was liberal. Fine weather 2s contract, Minneapolis and Duluth reported 256 cars. total for the three points of 768 sss,nst ssshns 7S ast week and 7os oCC yssr ago els, against ias 6oo last year 1'SNO '1'"- blackboard story of the trading today. On little selling stimulated by the very heavy receipts tra, July broke early to 5s or loss of several 'nves'' of new July put the price up The trade was stlil at sea as to the possi- bilities of the manipulation in this option. At the outset 1t was expected that the 6S6 cars of arrivals today with l72 cars contract and other contract stuff 10 total 800. GOO bushels for deliveries would break prices. Everything pointed to a deluge of oats this week. With only two days more to the July deal it was all guess work where the shorts had settled or would have enough contracts settled to avoid 8 bad squeeze, When the price reacted and advanced 1t was though the final squeeze at hand. September was sold freely on fine weather and dropped from 32A to 3l% and closed %c down at 32
 Provisions were very weak on selling out of sympathy for the grain weakness. Early the market was strong on a strong hog situation products were not wanted and prices declined sharply September pork closed 22Isc down at SIS 6,S0; September lard Sc down at SIO 67Jk and September ribs 35c off at Slo
 The leading futures ranged as follows: