The Montgomery advertiser., 1902-04-20
Chicago Grain and Provisions

Chicago. April 19.-Fears in the minds of grain spectators over the weather conditions produced another nervous market today on the Board of Trade. BulIish sentiment predominated. though trade was not brisk. and at the ctose May wheat had gained 3-4Gl-S and May corn 1-SM14c May oats stood unchangsd Provisions closed un .hanged to 20c lower.
 Wheat was ruled by the weather. fhe people who sold late yesterday on the rumor of rains bought in hurrieiiy at the opening. when dryness was reported again and caused sharp advance. The small Northwestern and primary re- ceipts also caused some alarm to shorts and induced good buying at times. Trad CTS were firm in the belief that the whole future of wheat prices hinges on the moisture that may or may not come to the relief of the winter crop in the next ten days. For some days the dry weather has been discussed. and as days go by without the needed rain. the situation grows more critical and complex. South western news is generally bullish. Not only is the winter crop full of dangerous possibilities. but the story is now pretty generally circulated that there will he q very serious shrnkage in the area Of spring wheat in the three Northwestern States. Cash wheat is growing scarce here and in the interior and this consid- eration caused holders to stand firm to- day. No shipping business was done here today and the export demand at the sea board was called poor. Business worked against the early upturn but exception ally large clearances of wheat and -four, I7S.000 bushels. together with the bullish factors, brought good rally. May opened 5-SG3-4 to l-2d5-Sc advanced. at "A l-2- to 14 3-S and soon sold at t3-4 X dip to "A 1-4 followed on profit taking but the situation was strong and May closed 3-4G7-Sc up at "A 5-S. Local receipts were forty cars none of contract grade; Min neapolis and Duluth reported 1o3 cars. making a total for the three points of only 143 cars. against 1S6 last week and s07 d. year ago. Primary receipts were 19S.000 bushels compared to 362. 900 bushels last year. Australian shipments were 24S. 0O0 bushels for the week against 4i2@1 bushels the corresponding week a year ago. Signs point to marked decrease in the visible supply next week.
 Corn trade was only fairly active in spotss The opening was 1-2eI5-S higher in sympathy with the wheat advance, but the demand was not brisk enough to sus- tain thskbetter prices and selling was free with the local crowd. After the opening bulge the market becan% a scalping af- fair and prices eased to last nights clos- ing figures. Statistics were still buiish, however, and the price of feed became something of a builsh factor Cash of- ferings West continued small and re- ceipts were 79 cars here. There was some talk Of better movement, but conserV T. tive traders persisted in the opinion tha t
  Cables wer4 indifferent and the sample trade was dull. May corn sold at 62 5~S, eased off to Sc and closed firm. 1-SG1-4 4c up at 62 1SM62 1-4
 Weather was the factor in the oats market. Drought and the higher prices possible for feed influenced good buying early for investment and shorts accounts. Wheat and corn aided in the advance. July and September both had good up- turns and held much of their strength. From appearances there IS no longer 8 fear of corner in May. May opened at 43 3-4 and closed unchanged a 43. Re- ceipts 143 cars.
 Weakness ruled in provisions with pork much lower. ribs inclined to follow pork aud lard fairly steady on packers sup port. Liquidation and weakness of the hog market in spite of a small run of hogs caused the declines. It was reported that the weakness of hogs was due to manipulation by packers. The grain strength was a feeble offset May pork closed 20c lower at 1880: May lard un- changed at s.75 and May ribs 71-2a1Oc down at 9.l2 1-2.
 Estimated receipts for tomorrow: Wheat, 45 cars: corn. loo; oats. 160 cars; hogs 32.000 head.
 The leading futures ranged as foilows,