The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-07-25
Grain aud Provisions.

| CmcAGo. M, July A.-Thc prime cause
| Of the weakness In wheat that developed
here today was the practical abandonment
Of the idea which hes been generally enter
tiiucd by many In the trade that there was
| going Ia ice u squeeze In July. During the
last lew minutes Of the trading session yes
| tcrday the July premium narrowed L., and
| later ON the curb July got down 10 the level
Of August, or nearly So, it being offered at
| 11'sc. The opening quotation this morning
was Sllsc, or li.c above August Trading
la July was not large, aud throughout
| the morning the difference ranged
| from ic to iAc. The opinion gained
ground, however that fears of n deal or
or squeeze in July might safely be aban.
| dOucd. This caused q great lot Of misCcl.
| laEcuus wheat, bought IN anticipation that
the alleged July deal would be- carried over
int August 10 bc odd out. The effect Of
this procedure was to weaken the nearby
futures disproportionatcly. The greatest
pressure was at this end Of the market. IL
WIS not until after II o'clock that the
market got especially dOwnCast, but about
half au hour before the ,.qsc the prups gave
way and further break Ut &c occurred.
July went to SOC, August to 1S)sc and De
ccmbcr 20 Sic. Measured by the Blessings of
the two days, August shows depreciation
Of H. &C. aud December OF &c. Last prices
was large the last hour aud light previously
Cora was weak and loser, a further shrink
age In values amounting 10 lsCJs.c, occur
rang As in wheat the closing quotations
were practically ut the bottom. AT $40
o. - fpr August, aud 4jAmIjb,c d large
firm came m With tafJ'O buying orders.
This turned the market aud 10 rallied Sc,
holding steady for an kouT.or two at the inn
proNcmcni, with "a moderate business. The
irst hall vi the session Witnessed the cover
ing ui large lines OF short corn. but Tor which
prices might have gone lower Brilliant
crop prospects and good uruipts have GRATED
widespread hcarisl sentiment against
which the bulls find IL impossible ~ make
Roadway
Oats exhibited further weakness today.
with u decline IN July OF fully lt.c, and In
most other futures Of 20 &c. Tue specula.
tive demand Tor new crop deliveries was
pretty well distributed all along the line
There were some outside selling orders. aud
10 the further decrease IN the demand from
July shorts and moderate estimated receipts
for tomorrow was largely attributed the
weakness.
Ia provisions the movement wa, IN general
bullish Hog continued a. he marketed In
comparatively small numbers, aud with no
diminutiun In the distributiyc trade the
market i steadily gaining friends aud sup
port For the past twenty four hours the
shipments made from this point amounted
a. Agn, Si2 pounds II meats. iO2, O7i pounds
OF lard and I 81 barrels II pork In today's
market speculation was quite active. short
ribs lei Ia interest, though lard and pork
received considerable attention. A heavy
local spsculntpr was the largest individual
seller, while the buying was general. Higher
price, were the rule. The advance actually
established In pork aud lard was j6j7i.c and
IN short rib, iOr.
The leading futures mnecd hs follows: