The Montgomery advertiser., 1905-04-06
CHICAGO GRAIN AND PROVISIONS.

Chicago, April 5.-An advance of 3& c
 in the price of the May option gave strength
 to the entire wheat market here today. An
 urgent demand from shorts was responsible
 for the sharp upturn in May. At the close
 May was up an even cents. July Is up
 X 1c. July corn also shows a gain of
 $ c 1c. Oats are up $ e sc and provisions
 1OG 2Oc.
 Strength in May wheat was in evidence
 at the start. that option opening t %c higher at $1.14 to $1. IA. Distant deliv- cries. however, were weak. July being off B c l2c to F a Sc at STAG to 7hc. The cause of the strength of May was an active demand from shorts fin anticipation of a
 bull raid Weakness of the July and Sep tember deliveries was due to lower cables and to continued favorable weather condi- tions. Frosts were reported far south
 as Texas. but temperatures recorded were not low enough to suggest any inquiry to the growing wheat crop. Conditions in the Northwest also were most favorable for
 seeding. State reports from Ohio. Kentucky and Missouri were received and all were ex- tremely bearish. showing marked improve ment in the condition of fall sown wheat. Under ordinary circumstances these influ- ences would have been sufficient to create extreme weakness in the market. Manipu- | lation of May by the bull clique. however, was enough of a factor to counter balance all these bearish influences. As the session progressed the price of May mounted high | CT and higher until 1t had reached $1 17% l Offerings were very light and the entire volume of trading in that option was com
 paratively strong. Strength of May gradu- ally started a covering movement in July. which later developed into quite active de-
 mand. The only item of bullish tenor in the days news was estimate of the amount of wheat still in farmers hands | In Ohio Official figures place the amount
 at 2.75O.0oo bushels. compared with 4.50O,- | GOO bushels year ago. bulge in corn
 was late bull factor in wheat. Realizing
 in May caused some reaction just before | the close. but the July option closed at the highest point at SS5s. Final quototions
 on May were at $1.17. Clearances of wheat
 and flour were equal to 103.100 bushels | Primary receipts were 627600 bushels. com | pared with 653.S00 year ago Minneapolis, | Duluth and Chicago reported 16S cars. against 24O last week and 241 a year ago. The feature of trading in the corn market
 was active covering of May and a conse-
 quent advance of Nc in the price of that delivery. There was little in the way of the condition of the market. although cables a trifle higher. Trading in May corn revealed a congested condition, offerings being wholly inadequate to supply
 the wants of some of the larger shorts. Strength of May had a bullish effect on the
 more distant deliveries. July opened un-
 steadily advanced 70 4s1s @4sAc where 1t clcsed. May ranged between 47kc and l 4SHc and closed at 4shc a net gain of i Qlhc. Local receipts were 1S5 cars. was light and the market was governed almost solely by the strength of corn. July
 opened a shade lower to a shade higher at
 29la Q 29%c, sold up to 3OBc and closed at soc Local receipts, 1855 cars
 Provisions showed considerable strength and business was of liberal proportions. An advance of l0c to 15c on the price of live hogs caused a scramble by shorts to cover by the outset and as packers were sup
 porting the market the bulls had their own
 way. Local longs sold moderately. The
 market closed at the highest point with
 July pork up zoe at SIS. .17iA; lard was up
 loo al sT,l5. and ribs were 15e higher at
 s7.4O.
 The leading futures ranged as foiiowA: