The Montgomery advertiser., 1904-06-11


 CHICAGO. June 1o.-Unofficial forecasts that the Government report on the condi- ton of growing wheat would be oear1sn caused general liquidation Of wheat teday. At the close July wheat was down if a # c. Corn and oats are both off a shade. Pro- visions are up 15@35c.
 Wet weather in the Southwest caused al firm tone in wheat at the opening, the July delivery being up M@Ac at s6% a s6A. The firmness, however. was of short duration, sentiment in the pit soon became bearsh. The main factor in causing the change was apparently apprehension among the bulls that the Government report would show considerable improvement in the condition of both winter and spring wheat That this fear was not groundiess was made evident by the Kansas and Kentucky State reports. both of which showed an inn tor that brought out numerous selling or ders was the large Argentine shipments. In referring to the crops situation St. Louis trade journal made the statement that no damage of consequence to winter wheat had resulted from the recent heavy rains in the West and Southwest, and that from many sections improved conditions were reported. To add to the discomfiture of the bulls cash prices in all markets were lower report that break of cents in the price of cash wheat at Toledo proved very unsettling to speculative trad ing here. The market became weaker as the session advanced, and before any re- covery was made July sold off to S5% There was some buying late in the day on decline of [ points in the condition of Michigan wheat, as shown by the monthly State report. In consequence part of the earlier loss in price here was regained. Final quotations on July were ss9ssK. Clearances of wheat and flour were equal according to Bradstreet's. were equal to l. 4S2.000. Primary receipts were 256500 compared with 3o2.s00 bushels a year ago. Minneapolis, Duluth and Chicago reported receipts of 159 cars. against POS cars last week and 3o1 cars a year ago.
 Notwithstanding the weakness of wheat Under the influence of wet weather in Ne braska a firm sentiment prevailed early in the day. On the break in wheat there was some reaction in corn. the declining receipts The market. however appears to be well supported, the general belief being
 large holders of July corn in this market. Prices rallied on the late upturn in wheat and the close was practically unchanged from yesterdays final figures. July opened
 a shade to Mc lower at 4s% @4SN to 4sH, sold between 4Sh and 49%, closing at 4SA Local receipts were SEQ cars. 31 contract Although prices of oats were affected by
 the weakness of wheat the decline was very
 slight. Apparently there was desire to venture far the bear side. owing to the
 fact that all the heavy operators are on the opposite side of the market. Light stocks and small receipts continue to be the prin- cipal bull factors. After opening unchang-
 cd to a shade higher at 3s% @3s% to SsN. July sold off to 39% and closed at 39%. l Local receipts were s5 cars.
 Provisions were active and strong. The
 feature of trading was buying by prom l inent packer who is said to be short q l big line. Small receipts of hogs at al Western points had an important bearing on the situation. The market closed at the | high point with September pork up 35c | at 12 65. September lard was up 15c al | 6.90. Ribs made a gain of 17Mc. closing l at '. 30.
 Estimated receipts tomorrow: Wheat, 21 | cars; corn. 61s cars; oats. 10s cars; hogs II, 900 head.