The Montgomery advertiser., 1904-08-18
CHICAGO GRAIN AND PROVISIONS.

CHICAGO, August 1.-The wheat trade was rust mad today and bought as 1T famine threatened the country. September touched l.0s bushei. 3x6+c over the previous quotation December advanced sc to i 10. The close was under the top fis- ures. showing c net advance for the near deferred option. Corn closed strong at No advance for September and He for De- cember September oats were up < hc. and provisions from . shade to 7hc high
 There was . burst of speculative wheat buying at the opening far in excess of any previous day. which gathered strength with each succeeding hour until ah previous records for the present crop were shattered. The early reports from the spring wheat territory were more encouraging than kets were stronger Cables showed foreign markets to have followed late advances on this side and there were indications that foreigners were purchasing in this mar ket. Buying orders far In excess of offer inss were in the market from the start. September opened t @Ac higher at 1.oSN 0i.esx. December was up 1H9.c at were reportad engaged in burning the standing grein to clear the land. From the DakotoA Minnesota and Ontario the same famine. The buying furore set in in ear nest. Only once-soon after the opening when . few long lines were released--did the psscs; so , below the shs, opsm,Is rsns anw 4;
 
 1.0SW and December to 1.o6. The rest of the trading appeared to be one frantic scramble to buy. Not until the high points were reached was there any marked halt in the advance. At top prices in the last hour, scalpers threw quantities of wheat in the market and on the absorption prices off to l.osx, but soon rallied. the close showing the buying spirit again in the as- cendancy. Final trades in this option were Ut 1. .esH, with the tone strong. December tn 1 0Q nndar the aeiltuu movement, closing strong at that figure Clearances of wheat and flour were equal to s7,2oo bushels. with primary 1.o91.ooo. against 1.01s 900 last year.
 That there was not more of an advance in corn was due to the fact that the South- west had some more showers and the crop outlook was helped thereby. This neutral- ixed to some extent the buoyant influence of wheat strength and even induced some in- fiuential selling. September opened St BY s.HesaS. becember, was as up at tn. start %6 hc to x6xc at 53k @64. dipping to s3k under the early selling. The market apparently could not resist the strong bull fish atmosphere of the wheat pit. However. and successive waves of buying carried val ues forward to 65A and 5S respectively for September and December. The close was strong at b5 t for September and 64x Q5 54H for December Receipts. s5 cars. con- tract.
 The buying force in other grains extend- in September of t Q Nc to < 9%c at s4A @34N. The early dip in other grains was followed by c corresponding selling move- ment in oats and the price touched 34A. but advanced on the late temper of the market to 35 and closed firm at 34&. Re- ceipts. 205 cars.
 Provisions opened weak in sympathy with | a decline in hogs. The market was rescued from its early declining tendency by liberal buying for a leading packing company anu | by the effect of the grain strength Clos | ing prices showed September pork up INC | at II s7h; lard 2Mc higher at 6.S7h and ribs unchanged at 7.35.
 l Estimated receipts for tomorrow: Wheat. | sS cars: corn. 7s cars: oats. 26e cars: hogs. | 10000 head.