The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1888-07-26
GRAIN AND PROVISION MARKETS
CHICAGO.

CHICAGO, July A.-The prime cause of weak
ness in wheat that developed here to-day IVES the
practical abandonment of the idea which has been
generally entertained by many in trade that there
was going to be squeeze in July. During the last
few moments of the trading session yesterday, the
July premium narrowed cent and later on curb
it being opened at 1885 C. The opening quotation
this morning was S0H or14 above August Tradir g
in July was not large and throughout the morning
the difference ranged from lc 10 125c. The opin.
ion gained ground, however, that the fears of a
dealers squeeze in July might safely be
abandoned. This caused great lot of msCella-
neous wheat bought in anticipation that the al
legged July deal would he carried over into August
to be sold out. The effect of this procedure was
to weaken near by futures disproportionately.
The greatest pressure was at this end of the mar
ket 1t was not until after II o'clock that the mar
ket got especially downcast but about half an
hour before the close the props gave away and a
further break of nc occurred July went to Soc.
August to 1880, and December to Sic. Measured
by the closings of two days, August shows a
depreciation of lac, and December of &c The
last prices were at the inside. The volume of
business wac large the last hour and light pre-
viously.
Corn was lower, a further shrinkage IN values
amounting to h0aIc occurring as in wheat. Clos
ing quotations were practically at the bottom at
459s0452lc for August and 45ls@45kc september. A
large firm came in with large buying orders. This
turned the market, and 1t rallied &c, holding
steady for an hour or two, with a moderate bust
ness the first half of the session. Brilliant crop
prospects and good receipts have created wide
spread bearish sentiment against which the bulls
lind 1t impossible to make any Roadway.
in provisions the movement was again bullieh.
Hogs continue to be marketed in compar atvely
email nambers, and with no diminutiOn in the dis
tributve trade. The market is steadily gaining in
friends and support, For the past twenty-four
hours the shipments made from this point
amounted to 3,693,Si2 pounds of meats, 14O,2Il
pounds of lard and ,2S7 pounds af pork In to-
days markets speculation was quite active. Short
ribs led in interest though lard and pork received
considerable attention. A heavy local operator
wa the largest individual seller. While buying
was general, higher prices were the rule. The adj
vance actually esabls he'd in pork and lard was SO
nc, and in short ribs 10c.
FUTURES.
Following are the highest closing prices in lead
Wheat-No :, July, SOc August, 1880; Sep
temher, 1890.
Corn-,NO: :, July, 45ssc; August, 459sc;
September, 45Sc; October, 442sc
Mess pork-Per barreI-August, 1875; Sep
TENDER, l3. So; January, 1895.
Lard-August, S.62x; September, $40; Octo-
Der, S.625s January, 10.
short ribs-.Ausust, s.12h; September, SD;
October, SD; January, 6.62n
CASH QUOTATIONS.
Flour-Steady and unchanged.
SOdS1c
Corn--No. ., 45ssc.
Mess pork-l0 I5.
Lard-Per 100 pounds, S6O9s.621s.
Short ribs-sides, loose,S.l0
Dry sailed shoulders-Boxed, 6.9O07.OO.
short clear sides-Boxed, S.75dS.sO.
NEW YORK.
NEW YORK, July 24.-Coffee-Spot, fair; Rio,
dull, l4Iac; options, unsettled; opening firm clos
ing dull but steady Sales 81 600 bsgs; July, IL Is
gu. %; August, 10 5oGlO.6J; September, 995G
1905; October, 9.75; December, 9.7o9e. IS.
sugsr-Quiet, steady: English Islands, 5bc; fair