The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-09-15
Grain and ProyIsions.


CHICAGO, ILL.,, Sept. Ia. - The action in
wheat today was most unnatural one
Markets elsewhere were weaker and the SEN
timent bearish. The cable news was OF the
sort 10 make operators sell long wheat.
There was great quantity Of long wheat,
and some short wheat was sold here, but
whenever the price got down to the opening
figure there appeared TO be string 70 IL.
Just when the crowd thought q good decline
had set in, the market would firm up and
react l4c. The range for the greater part OF
the session was but &c, but the track was
Travelled over very often, especially Just
around Ole for December Whether the
strength came from clever manipulation, or
whether IL was q uniform change OF scnu'
mcnt in favor of buying on the breaks, every
| time December got down about UAc II got
! boost from somewhere, sometimes stopping
at 0llSc, again at 0lAc, and once reached
| 81 20, the outside for the session. October
| sold Mt $4,000, and May Mt 900
| 0jHc Primary receipts were large, and the
| grading ut most points fairly good.
Wheat closed ut / o'clock at about the
! pivotal point OF the day, 0OAW0lc for De-
Ccmbcr May closed at $3.50.
IN corn active speculative trade was wit
| messed, transactions being on q larger scale
than for some time, and a lower range of
prices was established. The feeling from the
opening was weak, owing 20 the receipts
| being nearly 100 cars above expectations, and
this feeling was intensified when the csti-
mate for tomorrow was made knuwn-I25
cars. This was the main cause for the weak
ness of the near futures. Tho more deferred
deliveries were quite active aud weak on
prospects Of a large yield, now that the grow.
Ing crop is reported pretty generally out OF
danger Of frost Operations were on a large
scale, and the market all day was the scene
Of activity. The market opened at about the
closing prices OF yesterday sold of mt &c,
reacted &c, then gradually declined nc re-
acted ne, but again became weaker, aud
closed with the near futur slUllsc and the
deferred months i9@94c lOw.r Than ycster-
dlv Many operators who have been in
clncd 10 favor this cereal oi late were re.
ported us being liberal sellers today, aud
this, together with the oNcriuE, ct the local
! crowd, created weakness and considerable
long property was sold.
Under the influence OF q weak corn mar,
kct aud the prospects of heavy receipts, oats
were heavy and weak, with decline Of -
Mhc.
II was another DUH day In the provision
pit The opening WIS rather weak ana d
a little lower In some Instance the nervous
ness owing to loar Of yellow foyorsprcad bcing
! the prime factor IN produDius this effect
! Mess pork recovered piri 0l iis loss clos
Z ! ing at o'clock at sli9DGil3lI Tor October
and January or jml2kc lower than las
{ nights close. Lard was stfrur most Of th,
time for october, closing at ''pil4, while
/, january lost Toe, closing NJ Hu2'g Rib
sold oil % little Tor near ~ month, and Jan
uary, recovering In the fotinyr and closing
at ~ Tor the latter aud 1896 fur October.
! Az the afternoon session wheat was active
aud strong, ranging between 100 e. and 81
fpr December. Corn was in fair demand an,
Z price, steady Oats VEN Boo moderate re
quest nud lrmcr. Pork advanced 2'sc 10
October. but ruled unchau ud for later de
lycrics. Lard was steady iOr October, "a
lower for November and unchanged Tor late
| futures. October short ribs advanced "a
|, | aud January was a shade stronger
" The leading lutuUs rang, as follows;