The Montgomery advertiser., 1907-05-12
CHICAGO GRAIN AND PRODUCE


 Chicago. May 1.-The wheat market to- day was highly excited and exceedingly strong, advancing more than three cents in sections making a total advance of about six cents since the close of Thurs day. The business on the exchange was in the heaviest volume known for & long time throughout the day carrying orders that they had very little time for the transmis- sion of news At the close July wheat was up BIS @h hc. Corn was 1hc higher. Oats were up Q Nc. Provisions were 10c to 321ac higher.
 From all appearances the country at large was today of the opinion that the M far short of that of 1906. Before the open ing of the market orders to buy were stack ed up in the brokers offices and from the first sound of the evng until the close of the session there was constant rusn or buying orders
 Local traders were inclined to the sell ing side, but the country outside of Chicago encouraged with the rise of last week bought wheat constantly. At times there was slight recessions in the upward move ment of prices on heavy realizing sales At one time the market was forced back Bc but the efforts of the shorts and local trad CTS were of no avail against the flock of buying orders that came from all parts or the country. The market started up again and closed strong and near the high mark with the buying demand apparently still unsatisfied. The specific causes of the strength shown in today'se market were a strong market at Liverpool. the continued cold weather in the West and Northwest of this country, which it is believed will seriously injure the winter wheat crop and sensational advances from Canada claim ing that up to the present only 15 per cent. total amount of seeding has been done in Manitoba. Cash wheat at St. Louis and Kansas City advanced two to five cents and the prices of grain at various continent al markets were also reported as on the rise. Just before the close free predictions were made by enthusiasuc bulls that the price of July wheat will pass s1.oo T,I,, had to IL Ar higher Q at SS% @ssc. sold between Ssh and s1hc and closed strong and active at sshc.
 Ciearanees of wheat and flour were equal to 138, 300 bushels. Primary receipts were 466,o 900 bushels. against S74,ooe for the same day last year.
 receipts of 625 cars. against 527 last week and 162 a year ago.
 The corn market was strong and active all day. Local receipts were small but the chief bullish factor was the strength of the wheat market, which carried all other grain with it. Efforts were made at times the setbacks were only slight and lasted but brief time. The market closed strong and with an excellent, demand.
 July corn opened kc to hc higher at 5O%c to &c, sold between 5oRc and 51%c and closed 1Mc higher at 51%c The high point for the day Local receipts were 221 cars, with 40 of contract grade.
 The oats market was strong and active and followed the lead of wheat, the govern ment crop report issued yesterday talk en by many traders to indicate that the crop by June 1st. will show deterioration from the condition of May 1st and much of the buying was based upon this belief.
 Trading was very large. Cold weather in the Northwest was also a strengthening factor.
 July oats opened t Q Ac to hc higher at 43%c to 44c sold between 43%c and 44% c, and closed & q 7sc higher at AA%c. Local receipts 223 cars.
 The boom In the grain markets was re- flected in provisions and prices advanced throughout the day with pork very strong The market for live hogs was Sc higher and there was excellent buying by outsiders for investment. July pork closed 32hc higher at $17.O2M. Ribs were up 10c at SS. 20 Lard 121a @15c higher at ss.37h.
 Estimated receipts for Monday: Wheat 2S cars; corn 267 cars; oats 24s cars; hogs 3S,000 head.