The Montgomery advertiser., 1904-07-31
CHICAGO GRAIN AND PROVISIONS.

CHICAGO, July 3o.-Reports from the Northwest of damage by rust combined with the anxiety of July to cover sales caused a strong but cratic wheat market here to- day. At the close September wheat was a shade above yesterdays closing figures. Corn Is off l. Gp Sc; oats are down a shade and provisions 21s d15c.
 The wheat market today was influenced mainly by the action of the July delivery, although a number of factors entered into the situation. The outstanding July short age dld, not appear very extensive, but it sufficient to keep the market in a fsverish and unsettled condition. Under active covering the July option showed a gain of about a cent at the immediate start, the opening quotation being at 972 Sep tember was a shade lower to Is c 1ic higher at 90 A M 90R. Other factors that contrib uted to the bullish sentiment were numerous reports from the Northwest of damage to the growing crop by rust and the strong tone of the continental cables No quota tions were received from Liverpool, owing to holiday there. Soon after the opening an active demand from foreigners for the distant deliveries developed, followed by good buying by pit traders The price of September was lifted to SIS, but reacted again to 9o7s. Meantime July made about a cent advance from the opening prices. Later the demandl from shorts became urgent that July made sudden rise to s1.ool2. Under the influence of this sharp upturn distant deliveries also advanced. September selling up to 9l9s quick reac- tion. however. followed. Small holders who had been waiting for the price of July to reach the dollar mark eagerly took advan- tage of the opportunity to secure profits The selling of sufficient volume to cause a decline in that month to 97. At the same tinis September sold off to 9OA Re- ne~ed covering by shorts again started July upward and final figures were at 99 1s. Oth- CT deliveries failed to rally, September clos ing at 903s. Clearances of wheat and flour were estimated at S0,000 bushels Pri- mary receipts were 674,100 bushels, against 622,500 year ago. Minneapolis. Duluth and Chicago reported receipts Of 2g2 cars, com pared with 270 last week and 249 a year ago
 In sympathy with the strength of wheat a firm tone was manifested in the corn market during the greater part of the day There was selling of importance until the sharp break in wheat occurred, when con- siderable profit taking took place. During the last half hour the market became quite weak. Crop advices were favorable. Re- ceipts were fair and the cash demand was good. September opened unchanged to a shade higher at 49&s to 499s c 49A, sold be- tween 49A and 49A and closed at 49 co 49%. Local receipts were POI cars. with IS of contract grade.
 small furry in July immediately after the opening was the feature of trading in oats. Active covering by shorts with only light offerings was responsible for the up- turn in July. The advance was soon lost on realizing by local holders. The market showed an inclination to follow corn. Sep tember opened shade lower at 33L sold between 3SI and 331s and closed at the low point. Local receipts were 120 cars
 Provisions were easy on selling for outside account and on lack of support from pack CTS A weak hog market had q depressing influence. The market closed near the low point with September pork down 12Is q 15c at 12 92 F 12. 95 Lard off 21s q Sc at 7.6Tla.
 Estimated receipts for Monday: Wheat 150 cars; corn, 227 cars; oats l29 cars: hogs 10000 head.