The Montgomery advertiser., 1905-04-26
CHICAGO GRAIN AND PROyIsIONs.

CHICAGO GRAIN AND PROVISIONS.
 Chicago April 25.-Comparative calm prevailed In the wheat market here today. To all appearances the famous deal in May wheat is now absolutely thing of the past. Influenced by substantial decrease in the worlds available stocks the market closed firm with July up F c Sac. The May op- tion closed practically at yesterdays final quotations. Corn is up hc Oats show a gain of bq14c. Provisions are up 50
 An altogether different feeling from that recently in evidence existed in the wheat pit today. The opinion was generally express ed that the Gates line Of wheat had been entirely liquidated. With the deal in May definitely settled. attention of traders turn ed to the July delivery. Rumors of a con templated deal in that option under the guidance of influential bulls gave consider able confidence to shorts. who covered free ly. Notwithstanding favorable weather for ment during the greater part of the day was quite bullish. At the opening July S5 %c. May was Ac to sc higher at 9SAc to 93&c There was a little nervousness immediately after the opening and trade in the May option was made at 95e, with other trades at the same moment at 931t to 94c From there figures gradually de citned under scattered offerings by North western houses and little eleventh hour liquidation by small traders. One of the big longs also was credited with moderate sales The selling pressure sufficient to force the price of May to 92c, toward the end of the first hour. Meantime the price of July had eased off to S4Jac under selling by pit traders. Sentiment then changed and for the remainder of the ses- sion a firm tone prevailed The principal cause of the firmness a decrease of A. 414.O00 bushels in the worlds visible supply as against increase of SIS, 900 bushels for the corresponding week last year. Another bullish factor was report from Baltimore that the first contracts for shipment of new wheat to Eunrope had been made there to- day. On the theory that future deliveries had been generally oversold during the smash in May prices, the demand for the most distant options active during the last half of the session. The market re- Sponded to the improved demand. July ad- vancng to S5%c. The close was strong with July selling at the highest point. May closed at 93c
 Liquidation of the May delivery was the feature of early trading in the corn market The selling was quite evenly dis trbuted, without particular prominence to any individual operations. Prices eased off trifle under this profit taking. Later an ket became strong. Closing prices were at the highest point of the day. An In crease of only S6,000 in the worlds vis- ible supply was one of the bullish influ- ences. Estimated small receipts for tomor- row formed another strengthening factor. July opened unchanged to 5sc lower at 46%c to 461 1ac. sold between 46hc and 47c and closed at the top.
 Influenced by early weakness of corn. oats experienced some depression during the first hour but later rallied sharply on an attempt by early sellers to reinstate lines. A decrease of 1.55S.O0O bushels Tn the worlds visible supply was the main bvllisE' influence. July opened a shade lower at 29bc, sold between 2Sss C 29c and 29%c and closed at 29 Sc.
 Provisions were weak at the start on the profit taking in pork. Covering by shorts caused n substantial rally and the market closed almost at the highest point of the day July pork closed Sc higher at $t3. 5n; lard 1hc higher at ST 32 F, and ribs Sc higher at $7.l2Q7.l5.