Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-07-31
MARKETS BY WIRE.
Sensational Foreign News Gives Firmer
Tone to Wheat-The Russian Crop
said to be the Worst for
Many Yenrs-Hog Prod
ucts Moving Freely.

ucts Moving Freely.
CHIcAGo-The wheat market to-day has been
moderately active, but with the trade largely
local. Outside orders were light both ways,
and the feeling is still quite unsettled Despite
the fact that a maj ority Of the traders we're
working on the expectation of an advance,
speculative values for the leading futures
averaged a shade under yesterdays closing
most of the forenoon. The weakest feature of
the day was in the posting of receipts, which
showed l47 cars more than expected. Gables
were depressing. The opening for futures here
was L6Xc under yesterdays latest bids for
all fut res beyond July and business in the pit
throughout the entire session was of the scalp
ing sort, though toward noon prices firmed up
sS@1c from the early inside range.
The reaction was due chiefly to sensational
cable in regard to the excessive dry weather.
1t said: Russian official reports now admit
that the condition of the crops is the worst in
many years, and that unless all signs fail the
estimate of the worlds product to be compiled
at the Vienna international seed fair August
"a will show situation considerably worse
than that of last year." Undoubtedly local
bear operators were somewhat intimidated
by this news Considerable short wheat was
said to have been covered here to-day by St.
Louis parties, and there was some selling on
the big failure in Boston of prominent boot
and shoe concern. Toward the close the mar
late cables through private sources and the
good local cash demand. Final closing quota
tions were around the top, and MQ1c above
yesterdays cloSings.
in corn, and transactions were at slightly high
er prices. The volume of business was not
large, being mainly local The better tone was
attributed largely to the strength in the cash
market, the shipping demand being good, and
July and August were relatively stronger in con-
sequence, local shorts covering and shippers
TVrnxv fr.NW lad
of &c compared with September. The market
opened at Yesterdays closing prices; was steady
for time, then advanced z@3sc, receded a
little, ruled steady and closed HQHc higher
than yesterday.
Oats were traded in with little more free
dom, and a steady feeling developed. especial
ly for July, which was purchased by the shorts,
and it developed that there was more out than
most operators had an idea Of Longs as a
rule were disposed to sell, and met buyers
freely but prices showed little change. The
more deferred deliveries were quiet and steady.
Early the market for mess pork exhibited
considerable activity. Opening transactions
were made at l0c decline, and prices ruled
irregular within a range of 21f@5c. Later re-
ductIon of l0c was submitted Co with fair sales,
but this was quickly followed by an advance of
lOQl21sc. Near the close prices settled back
again 5G71Sc, and the market closed quiet.
A little more steadiness was manifested in
the lard market early in the day, and prices
were slightly improved During the latter part
of the session offerings were slightly increased,
and prices receded again and closed quiet
Quite an active trade was reported in the
market for short ribs, mainly in September de-
livery. Prices opened slightly lower, followed
by a further reduction of 21Sc. With good
demand later the feeling was steadier, and
prices rallied 21595c. Toward the close the
market ruled weaker again, and the impreTe-
ment was lost.
The leading futures ranged as follows:
WHEAT-No: 2 July, 79QSOH@7Ss4 4Q7954c;
August, 76ssg175SQ761397711c;S September. 76ss
@77hg76Ssg771sc; December, 7S2s@791sQ7g4G
79c
CoRN-No. 2 August, 361s5S6k@ @36lc;
September. S61sQS6ssG GS69S64c; October, $500
0ATsHNo. Z August, 22@3c: September, 2l5S
@2lN@2lz@2l7sc; October. 221s@22Hc.
MESS PORK, per bbl.-August SO 5215610 SIX
@l0 45@loA "a AZ; September. go 59@iO cog
iS iS aaSl0 q '2'S' October $40 4'@l0 4'Sio $50
LARD. per 100 Bs.-August, SO o21S@6 OK;
sepTTeeInSer pTeI Sc s6 l214G6 l21ai October IS l5G6 Is
SHORT RIBS, per 100 bs.-August, s. a296@
5 S712Q5 S21z@5 371a; September. S. 4214@5 As
@5 40@5 40; October, IS a211@5 45G5 4OG5 40.
and unchanged. No. spring wheat. 1870: No:
spring wheat nominal: No. 2 red, 7934c. No. 2
corn, $3.50. No. 2oats 22l4c. No. rye 4S@4S1Sc.
& ss smehH 9Ga seed s. S IS haisss Msss pork per
s. O25fGs O5. Short ribs, sides Qoose), IS S5@
g5 dg Dry salted shoulders tboxedl, $ l2H
Sugars unchanged. Receipts-Flour. 10 900
barrels: wheat, 10000 bushels; corn $4,000
bushels; oats i22 900 bushels; rye. 4ooo bushels;
wheat, 22.O0O bushels; corn. 26S, 600 bushels;
oats, $4,000 bushels; rye. none; barley,
On the Produce Exchange to-day the butter
market was fairly active and unchanged. Eggs
quiet at l0154llc.
NEW YoRK-F1our dull and weak. Corn
meal dull. Wheat-Spot moderately active,
Nc lower and steady; options moderately
Il M nc sro fu IN
&c advance; the changes in prices were wholly
through local operations. Rye higher; west
ern, 52Q581sc. Barley nominal. Barley malt
quiet Corn-Spot fairly active and firmer:
options less active and stronger. Oats-Spot
quiet and steady; options frmer and fairly
active. Hay active and firm. Hops easy and
points advance and closed barely steady 25Q4O
points up; better cables; moderate busi-
ness; sales $3.50 bags, including
l470914.eOc; October. l460@l4.65; November,
1460Gl475c; December, l4.559l475c: January
l460@l4.75c; March, l450@l4.70c; May l455@
l4.6oc; spot Rio stronger; fair cargoes, l715c.
Sugar-Raw easier and nominal: fair refining,
ll6c; centrifugals 96 test, 7szc: refined steady
and quiet. MOlasses dull, Rice quiet and
easy. Cottonseed oil firmer Tallow duh.
Eggs firm with good demand; western, l36l3%
@l4c; receipts, 8 lS6 packages. Pork lower and
dull; mess Inspected, sl2 OO@l2 so: do unin-
spected, sll 75Ql2 OO; extra prime, sll co. Cut
meats firm; picked bellies, 1850; picked
hams, Il1z@llAc; picked shoulders, 5E@5Tc;
middes quiet Lard more active and easy:
closing at s6 40; city, s6 10; August, S6 I6G
80, closing at s. 36 bid; September s6 47@6 So
closing at S6 AZ bid; October. Sc 1906 So closing
s6 AZ; November, s6 3lQ6 80. closing at S6 81
bid. Butter easy. with fair demand; western
dairy, 10@l211c; do creamery, ll@l7c; do fac
tory, S@l212c. Cheese-Colored firm; white,
weak; western, 697c.
ST. LoUIs-Flour quiet and unchanged.
Wheat higher. The market opened weak on
unfavorable reports and there was enough SELL
recovery of nc followed advices of stronger
foreign markets. but there was a raid when it
was reported that the late strong cables were
fictitious and the early lower figures were
last, a good upturn following, and the close was
firm at L63sc above yesterday; No. red
cash, 73ss@735sc; July, 7336@7334c, closed at
7318c bid; August. 73@733sc bid, closed at 7S1<
at 74ssc bid; December. 7714@7756c. closed at
TIC bid; year, 1890; May S2Ssc, closed at S25S
@S234c bid. Corn higher. a corner in July was
developed, and though a sale was made early
at 34c, a late bid of 37c failed to purchase. The
balance of the market was strong and better,
especially for nearby options, which improved
&c; No. mixed, cash, SIC bid; July, 34c
closed at SIC bid; August. 331s@3S1zc, closed at
closed at 345sc bid. Oats dull and easy; No. 2
cash, 22c; July, 225sc; September. 2lc asked;
May, 345Sc. Rye dull and lower, to sell; No. 2
offered at 42c. Flaxseed quiet; 81 S for spot
and 81 % for August.
PHuADELPHIA-Flour- and weak for
everything except choice old winters, which
ruled firm. Wheat opened A@1c lower, under
liberal receipts in West, but, with stronger re-
ports from other gram centers, the decline in
July fully recovered while later months re-
acted nc from lowest rates of the day and
closed firm; old Pennsylvania red, on track
81 05; new, No. Pennsylvania red in export