The Montgomery advertiser., 1907-05-22

Chicago. May 21.-The prices of ali lead
ing cereals advanced sharply to-day on the
concerning alleged serious damage to the
growing crop by drought. green bug and
eSidweather All deliveries of wheat. with
the exception of the July option touched
new high record marks. At the clos. July
wheat was up az @3Nc. September show
cd net gain of 4hc and December gain Of
Csc higher.
The wheat market opened excited and
strong with prices ranging from u a &c to
NC higher than yesterdays final quota
tons AS trading progressed. prices con.
tinued to mount higher until all deliveries
higher price than previously recorded this
season Even the MAY delivery in which
there is very little trading advanced today
time sold at 81 .04 and December at 81 O4ss
The highest point of the July option today
was o2 which Is Nc below the mark
Commission houses ana shorts were eager
bidders all day and The large part OF the
was Influenced chiefly by crop news, the re-
ports today being OF a more serious nature
than those previously received. Advices re-
garding the condition Of the winter wheat
crop of Nebraska and Kansas were especial
ly bullish and told of great damage by
drought and cold weather. In addition to
merous unfavorahle reports from abroad
particularly from Hungary: and Southern
Russia, where the crop is also suffering be-
cause of a lack of rain. The market deriv-
ed additional strength from message from
New York, which claimed that Europe pur-
chased today about 100000 bushels Of
American wheat on passage.
One reason for these purchases It is said
might be seen in a decrease CT over !, 200, 900
bushels in the European visible supply az
shown by. Rradstreet's. The market closed
exceedingly strong. with the continent wide
demands still apparently unsatisfied July
opened 4 20 a u a &c higher at-ss9 nc.
advanced 81 af
September opened nc to hc higher at
ashc to es%c. jumped to 81 .04 and closed
higher at H.oo% to s1.o1K, advanced to
81 :o4% and closed at 81. o..
Clearances Of wheat and flour were equal
to 132.700 bushels. The worlds visible sup
ply shown by Bradstreet's decreased 2es-
600 bushels. Primary receipts were s9o
600 bushels compared with 100000 the cor
responding day year ago.
Minneapolis Duluth and Chicago report
ed receipts of 4ss cars, against s27 last
week and Pas a wear ago.
Commission houses and cash interests
were bidders for corn which caused ad-
vance Of over one cent per bushel in all de-
liveries The strength of wheat was partly
responsible for the sharp upturn. but con-
tinued small receipts and delayed seeding
because Of unfavorahle weather were more
potent influences Local receipts tomorrow
were estimated at only 81 cars and this
caused additional bullish sentiment during
the last half Of the day, Trading was
extremely active the entire session. The
market closed strong July opened a shade
to nc to NC lower at 52h 20 &c advanced
to SAC and closed a. 541k 20 &c. Local re-
ca!pts were 1874 cars with two Of oontraet
grade.
The oats market shared in the general
advance in prices. the Septemher option
being especially strong and closing Mt a net
| advance Of two cents compared with the
previous close. Advces from Kansas. Ne
braska. Indian Territory and Illinois claim
ing that the crop in those states has been
seriously injured by green bugs and cold dry
weather were the chief causes for the ad-
vance. Commission houses and shorts were
the principal buyers. OFFERINGS were scat
tered.
July opened &c to sc higher at 4e& a
47hc advanced to 4sAc and closed at
| 47%c
Trading In provisions was quiet hut the
market was steady. The sensational AID
vane in grain was the main reason for
the flrmness Of provisions. although a five
cent advance in live hogs helped To some
extent, English houses were moderate pur-
chase-s OF lard. while pork and ribs were
bought by public traders. At the close
July pork was up Csc at SIS. 92h. Lard was
up 15717isc at 50 37iA q 40. Ribs were
| t7hc higher at 50. Is.