Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-30
MARKETS BY WIRE.
Good Buying Sends Prices Upward
Bullish News From the Northwest

BulliSh News From the Northwest
Provisions Strong.
CHlCAGO-Wheat opened quiet and about
steady at around Saturdays closing quotations.
There being more buying than selling orders at
the starting moment, there was a rapid but
only momentary advance from 96l4c to 9615c for
the May delivery and as sudden drop back
again to the starting point. After few min
ute OF moderate trading there followed an
hour or more of heavy give and take between
the buyers and sellers. The course of prices
at this time was strongly downward, the sellers
having the advantage in such sputterings of
news as came off the wires at the time refer
red to. The price quickly dropped to 9o13c for
May, and was assisted in its decline by numer-
Gus Stop orders which had been reached at 96c.
There was very heavy trading on the way down.
and it continued no less active as it surged up
ward around 96c. The cause of, the moderate
degree of trmness which existed for q few
minutes at the start was the rather better tone
than had been looked for of the English adj
vices
There was liberal selling against calls on the
hrs. advance to 965sc and once more when,
after reacting TO 96c. The price again advanced
to $500. Firmness was sustained by the dror
ping IN of numerous reports from different
sections OF this State complaining of long con-
tInued drought and an absence of snow. Kan
sas sent similar messages and letters. and these
all kept coming in much the same fashion, al
though earlier than the first murmurs of dis
aster from the winter wheat fields in the year
preceding There was very clear evidence OF
heavy short interest, which took alarm when
to the items of news last referred to was added
sales for export made here to-day of 1000
bushels of No. red winter wheat at sc per
bushel under May. and a further order for
MOCO being on hand, but limited, about lc uD-
der the market. This resulted in an advance to
VIC, and the close was 9719I6.
The corn market was firmer and higher, and
was maintained in that condition even when
wheat was bending and breaking under the
nnS S1nrT rTerhf of InA honrc p1rnri arlH
Hutchinson were both credited with having
their brokers in the pit quietly picking up the
offerings and others who were short took the
hint thus given. The opening was at a slight
advance upon the price at the close of last
week, first sales being made at 5O5sc against
50%c as trading ceased on Saturday. There
was very little movement either upward or
downward in the first half hour, but as soon as
wheat began to shake OFF its raiders the corn
shorts became more anxious, and the advance
was too rapid for many of them to get covered
until previous paper profits had been obllter-
ated. After a momentary dip to 501ac there
followed an advance to 501sc. Another down
ward turn to 501ac was once more succeeded by
an advance, which lasted until 5l5sc was paid,
and after that the price fuctuated between
5l1sc and the price last named. the close being
close TO the top, the las. sales which took place
having been at 5l1a@5l5sc.
More interest was manifested in the oats
market and the volume of business showed an
agreeable improvement. There was free SELL
ing of long oats. led by Dunham and Hurchin-
son. Baldwin and the crowd were good buyers,
so that, although there was an early break, the
| market hardened with corn ana closed at an
advance of &c
The provision market opened strong, appar-
emily because the receipts of hogs at the yards
were TO- 900 head under the number which had
been estimated. The opening price OF May
pork was at an advance of from 71ac to l0c on
the price it closed at on Saturday. 1t declined
| 715c afterward. advanced 1211c, sold off TIC
| and then ruled strong to the end, which was at
| about 20c over the opening price and at an ad-
| vance OF Soc since Saturday.
Lard advanced. after huctuating early be-
| tween Sc 40@6 4215 for the May delivery. and
| closed at Sc 1895 471I, which was the highest
| price of the day. Ribs were relatively consid-
erably stronger than lard, and the gain In the
end over Saturdays closing figures amounted
January deliveries.
The leading futures ranged as follows. as cor
rected by John NJ. Oakley Co., 45Sixth street.
members Chicago Board of Trade: