The Montgomery advertiser., 1904-02-20
Chicago Grain and Provisions.

, Chicago, Feb. 19.-Wheat for May de- livery sold at $1 .03 a bushel. an advance of 1-2Gt3 5-8 over last nights closing. Other deliveries were also strong, July at one time being up Sc. compared with yesterdays finals. Sharp advances in for eign markets due to possible war compn- cations were potent factors locally. Com petition among millers for wheat suitable for flour trade was an equally vital .n
 tiuence. May wheat closed 1-443 3-Sc. higher and July 2 7-Sc. up May corn visions F 1-2 to 42 1-2c. higher. On the widest trading experience since the mar ket started on it's present bullish course, May wheat opened at $1 to M.Ol. The ln- itiaI quotations were 1 l-2 to 5-S over yas- terday's close. July opened 1-S to 1-4c. higher at 90 l-S6f90 IA, the action Of the market was foreshadowed by sharp advance in prices abroad, Liverpool fu- lures being quoted Is and lie. hifA Acr and London coming 1-4 to 2 1-4c. hlg UT. The growing scarcity of good wheat throughout the country was an inspira- ton to the buyer. Eastern bidders for Oklahoma wheat made offers of $1, F 0. B., Galveston for hard winter varieties and met with no response from country
 dealers. There was developed a very bullish sentiment and buying increased.
 When May reached 10l 3-S the big long in
 terest became an open seller. For a time 1t looked as though the market was on
 the point of breaking. After reacting to 99 1-2, however. 1t was again forced up-
 
 Trading was So large and general that
 1t was difficult to follow. Fluctuations m
 May were especially wide. Prices climb
 ed upward until noon, when the high
 point of the day was reached. May sell
 ing at Sl.O3 Meantime July rose to 92c
 Some reaction resulted on heavy reallz- ing sales but within the last few minutes
 May again touched H.03 and closed at
 Sl O2 3-4 and July at 92 7-s. Clearancos
 edualed l6S.200 bushels Primary receipts
 4O9. 400 against 4l7, bCO year ago. Ex- ports for the week were 1,657 900. Min neapolis, Duluth and Chicago reported HS4 cars against SS1 year ago.
 While the bull campaign in wheat was in full progress the enthusiasm in the
 corn market had died out temporarily Not until late in the day did the corn news and the strength Tn wheat There was big selling of May corn by one of the most prominent commission houses | The opening on May Was 1-sc. higher at 55 3-4 There was little corn wanted cary | and the prices gradually declined to | 55 Is. There was fair buying on the
 decline. Within the last hour the strength in wheat overcame the bearish | tendency in corn and May rose to 5S I9 | but at that figure more long corn came out. resulting in another reaction and closed at 56 3-S. July closed 1 l-4c. higher | at 54 1-2d54 5-S Receipts, ls6 cars. l Oats were strong bu: not esprcia1l, active. The strength in wheat was the | principal bull factor and offset the bea - | ish lnHuSnce oI nn increase In contract
 stocks and a falling of in shipping dee
 mard. After opening 1-4c. higher at 44 i ! May ranged between A and 45 l-2. clos | ing at 46 Is July closed 1-2c higher 9t | 40 SIS. Receipts. 70 cars
 1 Provisions felt the effects of war as l much if not more than the grains. There | wes an active demand for investment a c- count the entire cay and shorts were | also liSeral buyers. Offerings were wan | taken. however. ard the entire list show | cd gains. May. pork closed 42 1-2 hignor l at Sl5,5T l-2; May lard l2 1-2c. up at S7 So and ribs 17 l-2c higher at N.42 1-2.
 | Estimated receipts for tomorrow: Wheat ] 9 cars. corn 285; oats 1So. hogs aoOOO head.