The Montgomery advertiser., 1904-02-21
Chicago Grain and Provisions.

CHICAGO. Feb. 20.-A sensational advance of 4hc a bushel was scored in thirty min utes- today by wheat for May delivery. The phenomenal price of Sl .07 was reported. the chief incentive being rumors of this being the Russo-Japanese war spreading to other nations. Talk of stoppage of wheat shipments from Russia and from Argentina was a sec- ondary factor. The day change was ono of the most exciting in number of years. day are cents higher for May wheat and 2hc for July. May corn up %@Nc, oats Y and provisions l5937hc.
 The wheat market opened excited and strong. Shorts were active bidders for May and initial quotations were unchanged to lAc hieher at sI.o2%@ .o4: July opened Ac vance was due mainly to stronger cables. Liv- erpoof futures being up a penny. Paris %9lc and Antwerp i%c a bushel. The gain at Ant werp was taken to be especially significant and was caused by threatened stopping of shipments from Argentina and Russia. port stated that railroad employees in Argen- transportation of troops and munitions fin Russia is greatly restricting the move ment of wheat in that country. In addition to the bullish foreign situation conditions To- cally were such to cause alarm to the sufficiency of the domestic supply. The de- mand from shorts was met promptly By sell long. Smaller holders also had wheat for sale. After touching Si.o4. May quickly dropped to Sl.o2A and July to 92A. For a short time the market held comparatively steady around these figures. As soon as the selling stopped, however. prices again moved upward under urgent buying by shorts. The fact that the board will be closed Monday. Washington's birthday, appeared to be ma terially effective in bringing out the heavy buying orders. Late in the session there was practically May wheat on the markets and shorts were bidding H4l6c over the market price in order to get it. The high point was reached at Slo7. a gain of 4hc over last nights close. The demand for July was al- most good, but there was more of the de- ferred future for sale and the advance was not as sensational July rose to e6. or 3hc above yesterdays close. Realizing sales re- suited in May declining to Si.o5%. while July fell back to 94&c. Another rally fol- lowed the last few minutes of trading May closing at sio5a and and July at s5%. Clear Duluth and Chicago reported 272 cars. against 4S4 last week and 333 @ year ago.
 The early corn market was weak. There was rent1y not much corn wanted. May opened unchanged to hc higher at 56h656k but declined gradually to 55% Toward the mid de of the session the market felt the effects of extraordinary strength in wheat. shorts became active buyers and there was a good commission house demand, prices advancing to 57S for May. July closed %9kc hiGAs.- at 55, after selling between 54% and 55h@56 Local receipts, 234 cars.
 There was an active trade in oats with the best dena d from shorts. Selling early in the way of liquidation caused a little easier feel ing, but on the decline the demand became general and prices advanced. The main in- A'NShS "oS StioHB wheat AItef opening unchanged to r higher at 45hd45% May sold between 45B and 46A. closing at 45% July was up lh at the close at 4IX. Receipts. I67 cars.
 Provisions were active and strong through out. Buying by packers ands outsiders were the factors. Small hog receipts with higher prices and the strength in grains were in- strumental in bringing out the demand. May pork closed 37iac higher at SIS. 95: May lard l5c up at S9.o5 and ribs soc higher at S7.72h.
 The leading futures ranged as follows: