The Montgomery advertiser., 1905-01-04
CHICAGO GRAIN AND PROVISIONS.

Chicago. Jan. 3.--Unconfirmed reports of
 an excessive increase In the visible supply formed the basis of break of 1kc today ! in the price of May wheat. There was a | reaction, but the market closed easy with
 May %c off compared with Saturdays fig- ures. Corn is down A6&c. Oats show kc loss. Provisions unchanged.
 The greatest strength of the wheat mar
 ket was at the immediate opening: Initial quotations in May delivery showed a gain of X 9%c at 1.15@1.t5%. The principal source of strength lay in the weekly statis-
 ties Worlds shipments were $500 ,ooO bush
 els snaller than for the previous week. Furthermore the quantity on ocean passage decreased 2.736.0 900 bushels In addition the | weather in Argentina was unfavorable to harvesting operations, being wet in all four provinces The domestic situation was also construed as favorable for the bulls the | arrivals in the Northwest being much small CT than those of last week. When the trad ing began shorts and commission houses l were active bidders. The demand, however.
 was quickly satisfied. several large holders selling by houses with St. Louis connections. This selling was partly attributed to the ex- az in report of Cincinnati trade journal. Claims were made that latest reports re- l gardinK the condition of the plant during the past few days of warm, rainy weather fered less from the effects of drouth than
 was, generally feared. With increased of-
 made, the market declining . trifle from the opening figures. Later in the day rumor
 that the visible supply had Increased near ly 3,00o.000 bushels caused c decided conn
 motion In the pit. For e time offerings were much in excess of the demand. The result was sharp break ih prices, May dropping to 1.l3x, Official figures. how ever. failed to confirm the sensational re- port. the increase being estimated at only
 sO1.00o bushels The market recovered a portion of the loss in consequence of fair buying brought out by the more bullish as- pect of the statistics. The undertone was
 further strengthened by reports from Minne- apolis stating that flour was in good de- easier with May at .l.14. Clearances of
 wheat and flour were equal to ll2.5o6 bush
 eis.
 In consequence of the bearish character
 cd considerable weakness. Trading wss
 fairly active but offerings were too liberal
 for the demand. Several prominent com mission houses were free sellers the visible
 supply increased c,3es.o00 bushels and the
 worlds shipments were large. Strength of
 wheat was an early factor. May opened at shade to hc higher at 45k to ASK a 4S $,
 sold off to A, where 1t closed. Local re"
 ceipts were 7s1 cars. contract
 The decline in corn had a depressing e1-
 slight loss, notwithstanding a considerable decree in the visible supply Trading was very @iiet. May opened a shade higher at
 s1S. sold off to 3lk and closed at SIX @ IsI% Local receipts were l07 cars. | Considering a decline of 10c In the price of hogs the provisions market displayed
 moderate firmness. The volume of business. however was extremely small and prices
 showed only slight fluctuations. Al the S close sS May pork and lard were unchanged at l2'SO | and : .O2h 6T. 05 respectively. Ribs were a | shade lower at 6.I9.
 | Estimated receipts for tomorrow: Wheat.
 5s cars: corn. 5s6 cars; oats. s1 cars; hogs. 44.000 head