The Montgomery advertiser., 1908-10-28
CHICAGO GRAIN AND PRODUCE.

Chicago. Oct. 27.--Wheat prices on the local exchange advanced more than
 1c. today owing to crop damage re-
 ports from Argentina and to de-
 creased movement in the Northwest. At the close prices were up l to l 1-S
 to 1 1-Sc. Corn, oats and provisions
 also closed firm.
 The wheat market opened strong at
 prices up 3-Sc. to T-S to 1c. above the previous close, and despite liberal re- alization at times made additional gains during the day and closed at almost the top notch.
 Final quotations on December were at 100 1s4c. and on May at 103 l 1-2 to
 10s 5-sc. Commission houses and 10.
 cal shorts were active bidders Tor
 commission house being credited with purchases aggregating more than 1,- 00O,000 bushels. The situation in Ar
 gentina was perhaps the chief incent- from the South was conflicting. but some of the advices were of a sensa-
 tional character. one dispatch claim ! ing that 20 per cent less wheat will
 be available for export this year than was exported the past year,
 Damage by recent frosts was given
 as the reason for this shortage. The strength of the Liverpool market.
 which closed at gains of 5-S to 1-4d. seemed to furnish ample confirmation l in the minds of many local traders, of | the numerous reports Of injury to the | Argentina correspondence. At the
 same time a decided falling of in re- ceipts in the northwest caused consid- erable comment among traders and | inspired additional buying. Receipts
 today at Minneapolis and Duluth were l 4S9 cars, compared with 7S9 the corre- | spending day last week. Many trad CTS, however, were unable to decide | whether the decreased movement was
 prophecy of smaller receipts or was
 merely a result of unsettled weather | in that section.
 ] The market was also bullishly af- | fected by an excessive export at Du- luth, where 1t was claimed exporters took everything offered overnight. Pri.
 mary receipts were small for the first l time since the movement of spring
 wheat really being less than for the
 corresponding day a year ago Total receipts today were 961, ,000 bushels, | compared with 1,070 bushels last year, l The corn market was firm all day, l partly as the result of thes advance in
 wheat owing to numerous reports which claimed that much of the new | corn now coming 10 market Is in poor condition, More reports. also were re-
 were the best bidders but the demand
 was not extremely urgent. Continued | wet weather was bullish influence. Cash corn at the. sample tables was l steady. The market closed firm with | prices IA to 3-Sc. above the previous 1 close. December closed at 63 3-4 to | 63 7-S and May at 63. Trade in the oats market was but firm. tone pre- vailed the entire session as result of
 the strength of demand. Demand came chiefly from shorts. The market clos | ed firm at the top with prices 1-4 to 3-Sc higher than yesterdays close
 December closed at 4Sc. and May at 1 49 7-S to soc. Local receipts, 224 cars. There was hrmness in provisions. The
 market at times. however. showed
 moderate weakness owing to consid- l erable profit taking. The strength of grain traded to inspire demand for l provisions. The market closed strong
 nr,cas sne nDpphapn1ed t0p p01d t tn 9ss gay witn than the previous close.