Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-06
MARKETS BY WIRE.
Almost Panic In the Wheai Pit-Every.
body Trying TO Sell, Causing a Break
Corn and Oats Active
Dor

CHlCAGO-The wheat market was active
and the feeling very unsettled to-day. Prices
1uctuated within wide range and the changes
were rapid. making the execution of orders
very unsatisfactory. The market opened 21z@
&c lower, due to the reports of general rains all
over the country east of the Rocky Mountains.
There was general pressure to sell and the
speculative offerings were unusually heavy.
Everybody wanted to sell, and the feeling was
decidedly panicky but at the decline better
demand sprung up and prominent operator,
II was claimed, put in numerous brokers to buy
and sustained the market. Persistent buying
for while absorbed the offerings and at the
same time encouraged parties who had not
already sold to hold on to their wheat, and the
feeling changed, resulting in rally of 31sc for
July, which at present is attracting the prln-
cIpal attention. then declined l15c, ruled irreg-
ular and closed about SC lower for May, 21zc
lower for June and 21sc lower for July than
closing figures Saturday.
Both buying and selling orders were attended
to with difficulty In the first place, the decline
of 215Q3c from the close Saturday to the open
ing this morning was very unsatisfactory, espe-
cially TO parties having stop limit orders to ex-
ecute, and again the upturn OF nearly 4c in
prices was unwelcome, part of this advance
being so rapid as to make the filling OF orders
at a certain price difficult. About thres-fourths
of the acreage in the Jim River Valley is re-
ported seeded. Rain also fell in the winter
wheat sections.
There was another large trade in corn, with
the surrounding condition about the same as
vailing continues strong, though upon the open
ing there was rather more disposition to sell.
but offerings were quickly taken by all classes
OF buyers. and the market ruled higher. The
principal Strengthening influences were the
small receipts, large shipments and decrease IN
local stocks, as also the upturn in wheat. There
was a good general demand on local account,
and New York was said 10 be buying freely, as
also provision houses and parties with foreign
correspondents. The market opened active and
excited at &c under Saturdays closing prices,
but offerings were absorbed, and the market
advanced with slight reactions lssc. offered &c,
rnled irmer and closed 1165sc better than Sat
urday.
Oats were active with an unsettled feeling
prevailing, and prices changed frequently
within a range of &c. The principal trading
was in July. which, owing to the receipts of
grain in the West and Northwest was offered
quite freely at times, particularly at the open
ing, and the difference between it and May
spread from g to &c. Opening sales were at
1zG2sc decline. Buyers took hold freely and
prices were bid up 79G1sc, May showing the
greatest advance. The strength in wheat also
ket weakened, outsiders sympathized and re-
ceded sc. and the market closed steady for
May, but nc lower for June and July.
Trading in pork was unusually light. Sales
were almost exclusively for July delivery.
Prices ruled lO@2Oc higher and the market
closed steady at medium figures.
Trading in lard was moderate. At the open
ing few sales were made at 21ac decline.
strength, and prices slowly improved 5@71Ic.
Toward the close the feeling was quiet, and
last sales were made at about inside figures.
A fair business was done in short ribs during
the early part of the session, and prices were
unsettled. Offerings were fair, and few sales
were made at 21nQ5c decline on SATURDAYS
closing figures. Later the market exhibited
considerable more strength, and prices grad
ually improved 7H@l0c, though trading was
only moderate The market closed rather easy
at medium figures.
The leading futures ranged as follows:
WHEAT-NO. 2. May. 95@9T99415 June,
$685. G95@95c; July, 9015@9iss @gO1S S@D925sc.
CoRN-No. z May, 3S1SQ34s4 @3353s G349Sc;
June. SS34GS59SS34GS515c; July S41agS1A@S4ss
oars - No. 2. May 25l@26@25H@25skc
June 2434G25A@2i5s@24ssc; July, 2f7lG25z9
Mss PORK. per bbI.-May. s1S 2OG1S 2Oa
lS 2o9lS 20; June. SlS S5@lS S59lS IS; July.
LARD, per 100 bs. - May IS S71l@6 400
6 S5G6 57114; June. S6 1905 471a@6 40g6 421122;;
July. S. 4719@8 55Q6 1906 50.
as sSss5 S. sS J1ne ees S 81 s g 4 g S5 55 40
July. IS 1895 s5@5 45@5 Az.
Cash quotatIons were as follows: Flour quiet
and unchanged; No. spring wheat. 94G95c;
No. corn. S4s6c. No. oats, 251S@255sc: No.
2 rye, 5l1lc. No. l faxseed. 81 as Prime
seed. 81 %. Mess pork per bbl. SIS 20
ais % Lard, per 100 lbs. IS S5d6 S715. Short
RIBS sides Iloose IS S5@5 40 dry salted shoulders
(boxed), IS 0OQ5 10; short clear sides (boKed).
SIS 7O@5 70. Sugars, unchanged.
On the Produce Exchange to-day the butter
market was firm and unchanged. Eggs, lie.
NEW YoRK-Flour irregular and moderately
active, closing steady. Cornmeal dull and firm.
B andywine, 81 80. Wheat-Spot dull and Ia
nc down and unsettled. closing weak; options
fairly active and sE9I5fc down early, advanced
above the lowest. or 5zGl1kc below Saturday;
the close was weak: the decline was owing to
reports of rains at the West. Rye firm: West
ern 561a060c. Barley strong. Barley malt
strong. COrn-Spot unsettled and a moderate
demand, closing weaker; options fairly active
l@l55c mp and steady Oats-Spot unsettled,
lower and moderately active; options fairly
active Hay steady and quiet. Hops dull and
steady Coifee-Options steady; unchanged
to points down; sales, 40500 bags includ-
ing May, l6.559l66Oci June, l65O9l655c; July,
IG G45gl650c; August, I625@l6SO; September,
1555@l560; spot Rio dull and steady; fair
Sugar-Raw dull and easy; refined easier and
sc; granulated, &c; cubes. 5-16c Molasses-
Foreign dull; $40 test. offered at zoe; Now Or
leans firm. Rice in fair demand and firm,
Cottonseed oil strong: crude. S51Sc: yellow,
81 45. Turpentine dull at 3SQ3S1<c. Eggs
Choice firm and quiet; Western, l21L6l23<c:
receipts, 1856 packages. Pork steady. Cut
meats dull and steady; picked bellies, 5k656c;
clears, Sc 20. Lard easy and dull: Western
steam, 250 tierces, IS 20 closing at S6 675<; op-
tons, sales. $50 terces; June, S8 SO, closing at
S6 20 bid; May Sc IS: July. S. 50; August, S6 80;
September, IS SO; October, 81 o.. Butter less
firm and quiet: Western dairy, 7Ql2c; do cream
cry 9@l9c; Elgln. l91SG120c. Cheese quiet and
easy; Western old, S159S54c.
MINNEAP PoLIS-Receipts of wheat for the
past IS hours were 2S5 cars; shipments 43 cars
No. Northern was in pretty good demand to-
day, both from elevator people and local
milIers. though the elevator companies were
not quite as active as on SATURDAY. No. l
hard wheat was little slow. There we're a
good many scattering orders from outside for
different varieties. This market was governed
largely by the situation In the futures market,
and the early sales were consequently consid-
erably under later ones. Closing prices were;
No. hard May, 9l13c: June, 92l<c; July.
9S15c; on track, 9215a93c; No. Northern, Nay
9l13c; June, 92c; July, CSC; on track 92c; No.
2 Northern. May and June. sSc; July, S91Sc; on
track SSGS9c.
ST. L0UlS-Flour-Trading light, but mar
ket firm. Wheat-Cash higher; options lower
The market opened low, improved on advices
of advance in outside markets, then weakened
and closed with July 3zG5sc lower than Satur-
day. though May and June were &c higher;
No. red cash, 92l4 4693114c; May, 9lG93c. closed
at Csc: June. 9l@9S4c, closed at 9S1lc July,
oil To-.