The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1907-05-18
CHICAGO GRAIN AND PRODUCE.

Chicago. May 17.-New high record marks
for the season on all the leading options
of wheat were established on the Board
OF Trade mere today during a session that
for volume Of trading eclipsed any previous
session. Wheat for the July delivery to-
day sold at $1.02S, more than two cents
above the former high record point Sep
TENDER advanced to $1.03A and the De-
cember option to 81. o3H Part of the gain
the market closed strong. with July show
ing a net gain for the day OF 1 NC. Septem-
Coarse grains shared in the sensational
advance, July corn closing with a net gain
of y q NC. Oats were up 2hc and provisions
wer loo to 15c higher:
The wheat market throughout the entire
dav was extremely nervous and trading
was of such huge proportions that 1t was
the market was subjected to heavy selling
pressure which caused initial losses ranging
pared with the previous close. few min.
utes after the opening. however, all of
this loss had been regained and the prices
had advanced fully lie above the final fig-
ures of yesterday.
There seemed to be no limit to the
amount of wheat buyers were willing to
take All the leading private wire houses
were swamped with buying orders which
came from all sections of the country. The
only sellers were those who had good
profits in sight, or elevator concerns VINO
were hedging against such purchases
The highest point of the day was reached
about the noon hour, following which prices
of damage to the wheat crop in Kansas and
Missouri were accountable for a portion OF
the Dit But the chief reason for the SEN
sational demand was the seemingly uniVer-
sal opinion that this years crop report OF
normal yield. Improved weather Conditions
for seeding in the Canadian Northwest
had apparently effect on the majority of
traders. The market closed excited and
July opened ,ac to &c lower at s6hc to
csc. sold up to $1.02%c, and closed at
81. oo%. September opened 4 @2c lower at
97hc to &c. jumped to 81. 03 and closed
at sl.O1k. December opened lie to &c low,
the upward to s1.o3% Final quotations
were at s1.o2A.
Clearances Of wheat and flour were equal equal
as shown by Bradstreet's were equal to p
1850 900 bushels. Primary receipts were
695.000, against 2S50OO for the correspond
Minneapolis. Duluth and Chicago report
cd receipts of 42s cars. against sos last
week and lis year ago.
Corn prices also touched new high record
marks for the season. There was an act
i've general demand and selling was scatter.
ed The strength of wheat was the chief
bullish Influence. but decreasing receipts
proved of great benefit to those traders
who, were working for for. higher prices Ss. The ne
warmer weather in the corn belt but prices
soon responded to the advance in wheat and
continued to rise until late In the session
when some reaction occurred on liberal pref
it taking The close however was strong,
July opened Nc to Nc lower at 52%c
rose to 52%e and advanced to S4hc and
closed at 5:S9%e; Local Local.. receipts pts were IS
Trade in the, oats pit was OF enormous
volume and prices advanced two to three
cents per bushel report that the oats
crop of California is almost total failure
was one of the reasons for the sharp mp
turn. The strength of wheat stimulated
additional bullish sentiment. The price
OF the May delivery touched 4s%c, which is
the highest point reached since 1902. In
the cash market offerings were readily tax
en- and prices were up 1@3 cents. The
market closed strong.
July opened unchanged to NC higher at
44h a NC, advanced to 47%e and closed at
46Mc. Local receipts were 119 ars.
Active covering by foreign shorts and buy
ing of ribs by southern packers caused
strength In provisions. The strength of
grain had considerable influence In bring
ing out the demand from shorts, The mar
ket was rather weak early in the day ow-
ing to continued liberal receipts of live
hogs At the close July pork up loo at
| SIG 20. Lard ten cents higher at s9.27h.
| Ribs up 15c at 80 90.
The leading futures ranged as follows:
Articles. Open. High. Low. Close