Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-29
MARKETS BY WIRE.
Wheat Moves Up Early, but Settles Back
and Closes at a Loss-Other Cereals
Also Let Go - Provisions

and Closes at a Loss-Other Cereals
Also Let Go - Provisions
Join the Procession.
cHICAGO-The opening prices in all the
speculative commodities were without change
from those prevailing prior to the Thanks
giving interruption of business. An advance
in the first few minutes gave the bulls some rea-
son to think this side was likely to maintain its
recent ascendency. but early appearances were
deceitful, and in the end there was universal
weakness and lower prices Wheat closed 11sc
lower, and corn and oats &c lower; and the sew
eral articles on the provision list also made a
slight loss, compared with Wednesdays closing
quotations.
With nothing in the wheat situation to cause
any change in speculative sentiment since
Wednesday afternoon, the price Immediately
on the opening indicated that none had taken
place. May wheat, which closed on the after
noon preceding the holiday at 81 021s, opened
at about the same price this morning. There
were some sales at 81 02, but the offerings being
light hardening tendency developed, which
had its acknowledgement in an immediate ad-
vance to 81 023s. Trading was not very ami
mated. and while no cause was apparent why
there should be a decline, there were no new
developments tending fOrcibly in the other
direction. The local sales, however, were
heavier than looked for, but the increase was
mark.
After the price of May wheat had wavered
for time around 81 0214@1 025s there was an
advance to 81 025s on reported sales of 2j,0O0
bushels of wheat to Buffalo milers and the
charteriDg of vessels for the shipment of l250G0
bushels. The improvement was of very short
duration; however Uneaslness was created by
the freedom with which December was being
offered and the wide berth given to that de-
livery by the speculators, as evidenced by IS
increasing discount Such sales as were ef-
fected early in the session were at 7Hc under
the prices. for which there at the same time ap-
peared to be plenty of buyers for May delivery.
This lack of demand for what will be cash
wheat Monday morning had its effect. and a
sudden decline to 81 0l5s. which took place
about IL O'Clock. was due to this cause.
The advance in railroad freights has neces-
sarily lessened the selling value of flour at
Western milling centers, and proportionately
reduced the price which millers can pay for
wheat. The price Of wheat broke to 81 OILS or
1c below the resting figures on Wednesday.
liveries lessened as the session advanced, and
toward the end was the carrying charge. The
wheat weakened still further in the last few
minutes, and prices were at their lowest at the
close. May wheat rested at 81 OIL and Decem-
Der was nominally worth 93Ac.
Corn was firm when wheat was firm and con-
tinued its sympathy when the reverse was ap-
plicable to the latter cereal. The opening
price for May was 541ic. and it advanced dur
| ing the first half hour to 541sc. Owing to the
cause already referred to, there was a gradual
weakening, WHICH was most pronounced close
| to the end, and during which 4 decline to 5334c
| took place, the closing quotation being 500
54c. Hutchinson was credited with selling
freely, and there appeared to be no support to
prices except what came from shorts. There
was much more putting out of further short
lines however, than covering of those previ-
ously existing. The local receipts amounted to
l55 carloads.
Oats were fairly active for May, but near de-
lveries were neglected. The weakness in other
grains and increased offerings by longs pro-
duced decline of nc. and the market closed
quiet at almost INSIDE prices and about the
same as Oh Wednesday.
Pork-Trading was moderately active. and
the feeling was somewhat unsettled. Prices
fluctuated considerably Opening prices were
made at 21995c decline and prices rallied 12149
15c. Later, prices gradually receded l5Ql714c,
closing at about inside figures.
Lard-A fairly active trade was reported and
the feeling was somewhat nervous and un-
settled. Prices ruled 251%I5c higher early in the
day, but gradually settled back 5Q51ac and
closed quiet.
Short riE sides-Trading was moderately
active. Prices ruled 21S@5c higher early in the
day, but later the advance was lost. The
market closed steady at about inside figures.
The leading futures ranged as follows, as cor
rected by John NJ. Oakley d Co., 45 Sixth street,
members Chicago Board of Trade: