Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-16
MARKETS BY WIRE.
A Bullish Tone in the Wheat, but Larg
Offers Weaken Values-Corn and
Oats Lose Ground-Provisions

Oats Lose Ground-Provisions
Fairly Active and Unsettled.
cHIcAGO--The wheat business to-day gave
unmistakable signs OF an underlying sentiment
of strong bullish tendencies pervading the
crowd. The opening price for May. 81 0l@
l 0lss, was about 15c higher than the closing
price on Saturday. The immediate cause of
the advance was the firm tone of the cable ad-
vices and marked advance in the price of sill.
yer at New York. There was likewise
continuation OF Saturdays expecta-
ton OF decrease in the visible supply.
The price fuctuated for half an hour between
81 OH ard 81 O0X, and then an advance to
81 OH took place, the last half OF which was
too rapid to permit of much business while it
was in progress. There was any quantity for
sale as soon as this nervous buying fever had
abated and several circumstances conspired to
bring around in short time reversal Of the
early course of the market. The decline hich
followed the first advance reduced The price OF
May to 81 001S. 1t reacted to 81 Ol1s, but once
more declined to 81 0OM, at which price it
closed with an easy tone.
Corn was inactive and closed at 3c lower than
on Saturday. There are indications OF increas-
ing receipts in the near future and the present
mild weather is not an encouragement to
prices. May corn opened at 533sc. with some
sales at 53l4c and one or two transactions at
5312c, and the sales made at that time were at
the top prices of the day There was decline
to 53c and a reaction to 5S1I@533sc In the first
half hour after which heaviness was the fea-
ture of the trade and decline to 521ac was the
result This was succeeded by q reaction to
522s4c, at which there were sellers, as the market
closed steady.
The extremely small stocks in sight hinder
sales, although very general opinion pre-
vailed among local operators that present
prices are at least or &c higher than is other
wise warranted by the situation.
Heavy liquidation in oats, superinduced by
heavy estimates for tomorrow, caused de-
lp Several brokers from
corn piG turned in and raided the market tend
ing material assistance to the bears. Hutchinson
was the heaviest seller. The May deal opened
ri 40lsc, or &c lower, declining to 441ac. and
fiuctuating between that price and 445lc for a
time. Then the raid began, and the market
went off to 1870, and some was sold as low as
4334c 1t afterward recovered to 441ac. but
another decline occurred, carrying the price
down to 441Sc. The market closed at 4l4 bid.
Mess POrk-A fairly active trade was re-
ported, and prices ruled irregularly within
moderate range. Opening sales were made at
5@74c decline. but fair buying tended to
strengthen the market, and prices rallied 121a
@l5c Later prices settled back I3QlOc.
Toward the close prices rallied l5Ql7Hc, and
closed comparatively steady.
Early sales were made at slight decline, but
later prices improved 5@71ac, and closed steady
at outside figures
Short Rib Sides-The trading was fair. Early
prices ruled about 21ac lower. During the
latter part of the session prices advanced so
TIC and closed steady.
The leading futures ranged as follows, as cor,
recred by John Nj. Oakley & Co., 40 Sixth sire et
members Chicago Board of Trade: