The Montgomery advertiser., 1904-04-20
CHICAGO GRAIN AND PROVISIONS.


 CHICAGO. April 1s.-May corn had 8 savage break of EXC on Change to-day with Armour an open seller. The general impression was that the big line held by that house had been quietly iiquidated dur ing the last two weeks and that the deal is practically over. The Armour selling to- day began shortly after noon and for an hour the pit was in a turmoil, anxious longs pumping their fines. fighting to get rid of their corn before the bottom went out Armour @ Company sold peTsonaiiy fully boo.c 900 bushels of May and made no effort either at concealment or support when the break got under way.
 The Armour line originally was generally estimated high as 5.60o. 900 bushels and 1t was accumulated mostly between 47 and 53 cents. The closing price to-day for May ures of yesterday.
 CHICAGO. April 1s-Unaninity in North ceiient, brought out liberal sales of long wheat here to-day. As result July closed i cent lower. Corn is down z a bc: oats Sc and provisions 2h 97hc.
 Rain in Kansas with an official forecast of more to follow caused bearish senti- ment among wheat traders at the opening. In spite of firm cables the market here was barely steady. initial sales on July be- ing unchanged at S6%. News from the Northwest also was discouraging to the bulls, the weather there being reported as greatly improved and that a good acreage is now almost assured. Long wheat was offered freely from the beginning. but the
 
 ing. notwithstanding the fact that numor- ous crop damage reports are still being re- ceived from Indiana, Illinois, Missouri and Kansas. The lack of demand soon started prices downward and for the remainder of the day @ decidedly weak tone was mani fested. The market lacked any outside sup port. BusinesS from out of town was chief ly in the nature of selling orders from the Northwest and Southwest. decrease of 617,0o0 bushels in the worlds visible sup ply. as shown by Bradstreets, contributed weakness the general situation. After July had declined to S5h there was little support. A slight rally resulted. but the ranged between SIX and ss and closed at 9ih. clearances equaled 745o0 bushels. Primary receipts were 274,1oo bushels. Duluth and Chicago reported 1s1 cars, against 154 last week and 123 year ago
 Tn the face of the declining tendency of wheat the corn market exhibited consider able firmness during the early part of the session. due largely to small receipts. Buy ing by commission houses caused moderate tained until near the middle of the day. when @ leading long began to sell large quantities of May. Under these offerings about 2h cents and July over 1 cent. Weather was favorable for farm work and there was talk of freer acceptances of corn by the West. One reason assigned for the slump was that In order to prevent being sold any of these acceptances which you are likely to grade well. the big bull decided 10 DrSAk the pTlCe OA Mdy 1u6 HldFhet closed weak and near the low point. July opened unchanged to kc higher at 5Oh Q 50H, sold between 49h and sos 950h and closed at 4sk @4S%. May closed at 4s% after ranging between 4s% and 52A. Re- ceipts, 15S cars. 49 contract
 Pit traders and commission houses bought oats early on the strength in the cash situ- ation. Offerings were comparatively light and & fair advance was made. The break in wheat and corn induced considerable re- alizing resulting in a weaker tone. The close was almost at the bottom. July opened unchanged at 37%, sold between 37h 037E and 3S and closed at 37M. May closed at 37%. Receipts q cars
 Provisions were strong early in the day on an excellent demand from prominent packing interests, but the market yielded to the extreme weakness in grains. The close was easy with July pork 547hc lower at 2.23h and 12.25; July lard 2hc lower at 6.67h, and ribs off 2S G5c to 5@7Hc at 6.47h 06.5o.
 The leading futures ranged as follows: