The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1885-01-08
THE MARKETS.

| The markets show a decided revival this
| week, and seem to indicate better promise for
| the future. Last Saturday wheat took con-
| siderable squirt upward and in the city mar
kets reached something of boom. In Balti-
| more No,2redwinterWestern spot, which sold on
the morning change at S7a8713 cents per bushel
closed at 9O19a9Os4 cents in the afternoon, with
the feeling strong and excited. The business
was large; the sales for all deliveries reached
probably million and quarter bushels. The
advance from the point touched about the mid
die of December is l21a cents per bushel, The
other leading markets were equally strong aud
trading at all points was equal If not greater
than ON any previous day. The Improvement
is attributed to the light receipts at the West
ern collection points, to better European ad-
vices, and belief that the principal domestic
markets. have been largely oversold. Many
operators have taken the position that the adj
vance was fictitious, and large quantities have
been sold short at each fresh improvement
Other grain participated in the movement to
moderate extent. On Monday the price ran up
to 81 to 92%.
In Chicago on Monday the feeling was strong
er as indicated by the following dispatch to the
Philadelphia Press: Wheat to-day was again
the leading feature on Change. The pit was
over-run with multitude of anxious buyers
and sellers and doubtful individuals who could
not make up their minds but tried hard to do
so. The fundamental feature of the days trans
actions was the heavy buying by outsiders and
the heavy selling by several strong local par
ties and the general crowd of sealpers. The
scalpers plainly got the worst of it, the motto
of the cerial, staunchly adhered to, was un-
questionably "Onward and upward" The out
siders. and particularly that faction of them
u
because the price was going up. Tho strong
local parties sold for the same reason convinc-
ed that the higher it got the further it would
eventually tumble, The professional sealpers
sold partly because the strong parties sold, and
partly because they had made uptheir minds
over Sunday that the present boom had about
exhausted itsely.
The market opened at SIC. for May. For the
first hours trading the boom seemed to have
lost some of its snap, and at 1880 O'Clock the
price had declined to SG7sc. From this point
the market steadily advanced, until sellers who
had put out lines at S6Ac. were struggling to
get them back at S8Lc. At I o'clock the mar
ket closed at 8sSe. for May and S21sc. for Febru-
ary There was an easier feeling during the
afternoon hour, the May option declining to
S77sc. and the February to Size The general
impression on Change to-day is that wheat
90c. for wheat next week and 81 before March. !"
Although corn has to q cert ain ex tent partic-
ipated in the bouyancy of the wheat market,
yet the indications do not promise any perma-
nent advance in price. The rather do they
point in the other direction. A dispatch from
Omaha states that the movement of corn from
Nebraska and especially from the Republican
valley has begun in earnest and the volume now
going to various markets is something remark
able. Both the Burlington and Missouri River
and the Union Pacific are unable to meet the
demand for cars. The reason assigned Is that
the farmers can hold on no longer, being COM
PEELED to sell to pay taxes and meet current ex-
penses. heavy movement in wheat is ex-
pected in o few days.
The local markets sympathized with the gen.
eral tendency in the centres of trade, and Il
general advance is noted in the prices of grain.
Quotations yesterday were as follows Flour
family, 81 90 to 81 %; extra 49, to $780, super
fine So 90 to IS 49, Wheat 80 to "a: Corn So to 55;
oats 81 to So; clover seed So 70 to 81 IS; Hay,
Mixed from $40 to Sl2; Timothy $l2 to Sl2 so.
The produce market exhibits no change
worth noting, the prices quoted below repre-
senting the figures held by merchants
STANTON MARKETS.