The Montgomery advertiser., 1904-08-05
CHICAGO GRAIN AND PROVISIONS.

| CHICAGO, August 4.-Sensational reports
Of damage by rust to spring wheat caused
4 intense excitement today on the Board of
Trade resulting In sharp advances in prices
At one time the September delivery was up
3% @s%c compared with the lowest fig
ures Of the day. The market closed almost
at the top. September showing a net gain
Of IN G3Ec over last nights quotations
ctber cereals were affected by the strength
| Of wheat. corn closing at advance of an
even cent oats are up Il q Nc. Provisions
show gain of 7 " d12kc.
At the opening the wheat market exhib-
tied considerable weakness, the September
option being down about &c at 93% m94
The decline was due to absence of any
additional damage reports from the North
west and to drop of I'D in wheat quota
tions at Liverpool Influenced by the re-
markable advance in prices during the past
two weeks, a disposition shown e go
slow for time. During the first hour
the market regained part of the initial loss
on moderate covering by shorts. but no
great strength was in evidence. Towards
the noon hour, however, alarming reports
OF damage to spring wheat in the North
west again flooded the pit. According to
latest advices the area affected by rust ex-
, tended over the greater part of the Da-
kotas and Minnesota 1t was asserted that
little hope was entertained for even a mod
crate yield Much short wheat having
, meanwhile been sold a sudden demand re-
suited that reused the market into intense
activity With the increased demand came
a dearth OF offerings, and in consequence
prices rose rapidly. The early decline was
entirely overcome and the big additional ad :
vance followed rapidly. the market reach
ing the highest point so far touched by the
september delivery. that option selling at
W II @sI Is. Trading continued active the
remainder of the session, the market closing
practically at the top. with September at
81 Clearances of wheat and flour were
equal to 72,40O bushels. Minneapolis. Duluth
and Chicago reported receipts of zee cars
against 2OS last week
Lower cables good weather and Favorable
crop advices brought out heavy selling %,
corn early in the session. With the bulge
In wheat. however. an active demand for
corn developed, resulting In an advance of
&c in the September delivery. During the
last hour the market held firm the close
being at the top. September opened "A G
lower az u, sold between 50A and 52T
and closed at SEX @52B. Local receipts
were 221 cars with 16 of contract grade.
Similar to other grains. oats opened cas-
Ter Subsequently. however, the market
| yielded to the sentimental influence of the
strength in wheat, the early loss being en-
| tirely regained. The market closed at prac-
shade to nc lower at 33% sold between
s3% and s4as and closed at 34k Local
receipts were 208 cars.
Buying by packers and for foreign account
caused a firm. tone ip provisions. At the
start the market Was a tfifie easier as 4
result Of selling by pit traders but with
the strength of grains firmer feeling de-
veloped. September pork closed with a gain
of 121sc at IL. 95. Lard was up loo at 7 90
| Ribs were INC higher at TO.
Estimated receipts for tomorrow: Wheat
101 cars; corn. 245 cars; oats. 216 cars; hogs
| 1000 head.