Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-07-12
MARKETS BY WIRE.
Intensified Weakness In the Wheat Pit
Good Weather and Government Crop
Report Cause Values to Let
Co All Alous the Line.

OHICAGO-Ine weakness IN WQedt winch Sol
in yesterday was followed with a further ma
terial shrinkage to-day, and a heavy, weak
feeling existed most of the session. From the
highest point reached yesterday prices de
clined SIC for July. 41xc for August and SIC
for December, closing SIC lower for July, 2aSc
lower for August and l6c lower for December
than closing figures of yesterday. The short
interest, assisted by the bear element, took
courage at the weakness and sold freely. They
hammered the market by selling large lots and
this brought out large lines of long wheat
which had been bought at the higher prices.
They were encouraged in their action by the
unfavorabie tenor of European market advices,
improved weather here, and the prospects of a
freer movement of wheat. The weather was
fine in the West, with light rains reported III
the Northwest and the South. Samples of some
Is carloads of new winter wheat were shown, OF
which the wheat is here and will be shown in
the inspection blank tomorrow. Nearly all of
the new wheat was of good quality and in
spected No. red, and this was made the most
important weakening feature on the market
1t was reported that Chicago hrm had bought
l5O cars at indianapolis to arrive here next
week.
Operators scarcely knew whether to accept
the Government crop report as weakening or
strengthening feature. 1t is calculated
that the yield from percentages of con-
dition furnished would be from 475,-
900 to 49,, 100000 bushels. or a reduc-
tion of about 80, OO0, 900 bushels as compared
with the June report. The market no doubt
had been bulled on the expectation of still
larger reduction in the anticipated yield than
the figures represent, and this may nave In
duced some selling.
Corn ruled moderately active, with the feel
ing easier. There was only a moderate local
demand. most of the purchasing being done by
a prominent local trader, whose operations had
a sustaining influence early In the day. As the
session advanced however, offerings became
quite liberal. considerable long property being
sold, and the market ruled easier, due largely to
the weaker tone OF wheat The market opened
at Yesterdays closing quotations, was steady
for time, then declined &c, became quite &C
tive, closing &c lower than yesterday.
Oats were fairly active; but weaker, and
chiefly attributable to fine weather for harvest
ing and good crop reports.
Trading was moderately active in the market
tTvely steady. Early prices ruled 5@711c lower.
Later the market was steadier and prices i'm
proved 5G71zc and closed quiet.
An easier feeling prevailed in the market for
lard. Prices ruled 215@5c lower. and the mar
ket closed quiet at medium figures.
Rather less doing in short rib sides and the
feeling easier. Prices declined 219@5c early IN
the day. but rallied again and closed steady at
about medium figures.
The leading futures ranged as follows:
WHEAT-No: July, Ss14@ssM@7shG G7s914c;
7s5S@71sG771sc; December, sO5s@Sl1sG7s5s8
GoRN-No. 2 August, s5xQs5I@s5A0s5Ac;
sepse96eT, SSzsgSS1s@95'1@oo1fc; October. SS99s
oATs.So: 9 August 22@22@2lss@2l Sep
ON sss S. Pss sSAussif sf 81 s s5S g
u 2519Gn S21z; October. $40 SOGlO 40@lo so9
L1s4 5zs y gsE 100 SsAAusu:s ga g sSss 9Ss ses se
6 9717; October, S. 4096 ago 35@6 3S
SHORT RIBS per loo ns-August. IS 7714@
s 7735Q5 7595 IS; September. S. s2h@5 s211@
Cash quotations were as follows: Flour firm
and unchanged. No. spring wheat 7S15@79c;
No. 3spring wheat, nominal; No. red, 7s1s@
rye 4Sc. No. 2bariey nominal No. faxseed,
81 80. Prime timothy seed, 81 AZ. Mess pork, per
barrel, sl1 301ll S5 Lard. per 100 pounds S. Is.
snS5s Is' oH ssss SGs @ sBGis Py sessd essl
sides (boxed), Sc l24@6 Is Sugars, unchanged.
Receipts-FIour, :. 900 barrels: wheat. 5000 bush
els: corn. 222OO0 bushels; oats, Ia 900 bushels;
ments-Flour. 5000 barrels; wheat. 4l000 BUSH
els; corn, $4,000 bushels; oats, l75 900 bushels;
rye. 1000 bushels; barley. none.
market was quiet and unchanged. Eggs quiet
at n14@l2c.
NEW YoRK-F1our less active; high grades
steady; low grades easy. Cornmeal quiet; yel-
ately active; export ard milling l1I@l15c lower;
options more active anu l1&4lszc lower on ac-
count of larger receipts OF new crop at the
West and expectations that supplies will be
sufficient for all contract needs; closed heavy
Barley malt dull; Canada. 9OcGS1 05 for
old and new. Corn-Spot moderately active
and weaker; options dull, lower and weak.
options dull and weaker. Hay steady and
quiet. Coffee-options opened barely steady
at 10@A points down and closed steady
business; sales, 1850 bags, including
July. l3.90c; August, H00@l4 40c; September,
l4lO@l455c; October, Al5@lL5Oc; Novem-
Mso@if SOe; February. y'e Sc; March M sAaaa %a5S
l46Oc; May. l45OQl460e; spot Rio stronger:
fair cargoes. 1Izc. sugar-Raw easy and
test, s1s@S4c; refined quiet and steady. Mo-
lasses-ForeIgn quiet; New Orleans quiet. kice
steady and quiet. Cottonseed oil dull. Tallow
6rmer. Rosin quiet and steady Turpentine
frmer and in fair demand at 3S@3S15c. Eggs
in fair demand and firm: western, l43z@l5c;
receipts, 1899 packages. Pork quiet. Mess,
Sl2 0O@l3 %; extra prime. sll 25Qll so. Cut
meats strong; sales, picked bellies, II pounds
&c; picked hams, lls4c; picked shoulders, SIC.
Lard lower and dull; western steam, S6 IS;
sales at S. 62K c. and f.; city, s6 20; august.
a, closing at Sc rs bid; October. Sc 81, closing
at So 76; January, S6 1896 4a Butter moder-
ate and demand weak; western dairy. l06l3c;
Cheese strong and fairly active, western S ga
TIC. ....
ST. LoUIs-Flour quiet and weak. Wheat
lower; the market opened very weak and grew
worse, as nothing turned up to sustain values;
bearish influences; foreign markets were de-
clining, receipts increasing. and with every
cnes Of i@e and The Close wsas was an nnay the 1e
tom; No. 2 red, cash, 74c bid; July, 73366753Sc
closed at 73ssc; August, 7311@7511c closed
at 7S19c bid; September, 7474G761lc, closed at
7Sc asked. Corn-The near options were firm,
influenced by an advance in cash and July;
No. mixed, cash. 33szc; July, 323s@3211c. closed
at S213c: August, S216c; September, Ss5 closed
closed at 341lc asked. Oats-No trading, and
May offered &c lower. at 253sc, with 2511c bid.
Rye neglected; No. 2nominal at Ale. Flaxseed,
81 Is bid. Provisions quiet
PHILADELPHIA-Flour quiet but prices
Arm. Wheat-Options weak. and closed x63Ic
lower; spot lots quiet but firm; ungraded red,
choice on track: s2c; No. 2 red July. S6@s61<c;
Der, S4GS5c Corn-Spot lots firm; futures dull
and nc lower; steamer No. 2 low mixed in
Twentieth street elevator, 43c; No. 2 low mixed
in do, 4S54c; No. 2 mixed. on track and in
Twentieth street elevator. 44c; No. 2 yellow, In
grain depot 44c; No. mixed July. 421S643c;
August, 42s4q4Sc; September, 431I 1I@lS74c: Octo.
white, 3Sc; No. white. 3411Sc; futures dull and
weak: No. 2 white, July, 331S@335<c: August.
September, 3034@3016c: October, BOZ
@Sl14c; Eggs dull and irregular; Pennsylvania
CINCISNATI-Flour firm. Wheat in good
demand; No. 2 red, S5c; new, Sic: receipts.
57p0 bushels; shipments, 35O0 bushels. Corn
2 mixed, &c. Rye firm at 4Sc. Pork quiet at
sl2 Lard nominal at s6 10. BuIkmeats easier;
short rib, IS 95 Bacon steady. Butter quiet
Sugar firm. Eggs heavy. Cheese steady.
MILWAUKEE, - Flour unchanged. Wheat
easy; cash. 7SHc; September, 1916. Corn
firm; No. 8, 36lzc. Oats steady; No white,
2Sc. Rye firm; No. ], 44zc. Barley firm; No. 2,
sfpsssm9eT Sc ss sid 6e ss Provisions steady Pork
INDIANAPoLIs-Wheat strong; new No. 2
red TSc bid. Corn tIong: No. mixed, 35c
bid. Oats steady; No. mixed, 245zc bid.
ToLEDo-Cloverseed dull; cash. a 50; Octo-
ber, "a go.