The San Francisco call., 1904-02-16
Chicago Board of Trade.
Future Grain and Provisions.

CHICAGO Feb. IA new high record
price was reached to-day in wheat for May
delivery-9S cents a bushel. With the war
advancing foreign grain markets. the visible
supply diminishing and with crop prospects
in the Southwest threatened by the cold
weather short selling Of the May option was
practically abandoned, July absorbing most
Of the new business. Closing prices were near
the top, with May sc above Saturdays final
figures.
The wheat market was bullish from start
to finish. Higher prices at Liverpool and Ant
werp, together with cold weather in the South
west. where the ground lacks sufficient snow
covering, caused an opening advance in May
OF &c to &c. initial sales being made at
l5GAsc at soc to s9Sc There Was 3 an - unno
sually good demand Tor the July and Septem-
Der deliveries, but owning to the congested
condition OF May much difficulty was expe-
rienced in executing orders in that option on
either side. Offerings We're remarkably light
ana on that account little difficulty was en-
countered in forcing prices upward. Commits
sion houses We're active bidders for July and
siloris covered Doth May and July Before
the end of the first half-hour May had ad-
vanced to 9Thc and July to S9Hc The lead
ing long had wheat for sale on the advance
as also did the small holders Under this
prOft-taking selling. the market had slight
setback. May declining to 9619c and July to
possible character on the reaction. A report
that the visible supply was greatly increased
position TO buy on the domestic situation was
more pronounced. The strength OF cash wheat
IN all markets was again a dominating infin-
ence in the speculative trading. The market
was extremely bullish during the last hour
Under active covering by shorts the price Of
May touched new high record mark at Csc
while the July option sold up TO 905kc. The
market reacted slightly on the profit taking
but the close strong. with May at g7ai @
and July at 90l5c. Clearances OF wheat and
flour were equal TO 2S4 0O0 bushels Primary
receipts were $40. 600 bushels, compared with
7O4. 400 bushels year ago. The amount on
passage increased Pip. 900 bushels while the
visible supply decreased So GOO bushels JuIv
higher; oats unchanged, and provisions l0c
to 81 nc higher.
Corn showed Independent strength on an
active general trade. Like wheat il was
helped by the foreign situation. May opened
Ac TO 12c higher at 55c to 55Lc. sold IN TO
J64sc, but reacted on profit taking the close
being at 5Gls M56H C. July showed q final
gain Of "a &c, closing at 533s M53hc Local
receipts were COS cars, two of contract grade
oats felt the effects of the war and the in
dication Of an increased trade sharing the
bullish prcclivities of wheat and corn during
the greater part of the session. Final figures
in May were precisely where they left off
Saturday. The opening was &c to &C higher
at 4414c TO 41ac, and after selling up to
45c, closed at Il 4kc. July closed &c HIGHER
at 39A C.. Local receipts were 400 cars
The provision market comparatively as
active and strong as the grain markets In
the face OF liberal receipts Of hogs and lower
prices at the yards an urgent investment de-
which resulted in marked gains. Packers and
local longs were the principal sellers The
close was strong, with prices near the ton
May pork was up 2719c at $15, after ranging
between Sl4 SO and SIS 05: May lard closed
Zoe higher at . %. while ribs were 10q124c
The leading futures ranged as follows:
Articles Open. High. Low Close