Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-26
MARKETS BY WIRE.
Wheat Active, Excited and Lower-A Rally
Makes Prices FractionaIly Better
Than the Lowest of the Day
Oats and Provisions Down.
CRlCAGo-Great irregularIty charact

CRICAGo-Great irregularIty characterized
the fluctuations Of the wheat market to-day
" heat averaged from firm to strong early but
toward the close II weakened and left off at a
decline of sc from Yesterdays closing figures
Corn was easy toward the close after again
touching high water mark; it closed &c under
Yesterdays prices. Oats made slight advance
and provisions were duh and lower
There was general feeling among the local
spectators previous to the opening that wheat
MAS a sale. That opinion was based upon news
ot decreasing character, but simply because
since uday last, there viii he an advance of
O. &c Der bushel Frequently a rise so sudden
and material is an irresistible temptation 10
those having bought near the bottom to accent
the good fortune so quickly placed within their
IeaCu. and enough selling usually takes place
in such cases to cause the reaction which was
expected to materialize to-day. The news was
certainly indicative of strength rather than
weakness, In the situation. The mixed charac-
Ter Of The news was Immediately reflected in
the course of the market. The prices were
irregular May wheat selling from 81 021s11 OPS,
with few sales at 81 G213 at the same time.
There was an immediate decline to 81 Ola and
this for the time being was the utmost extent
10 which the reactionary theorists deemed it
prudent TO mdOrse their opinion. After an ad-
vance TO 81 Ul3s there was another slump to
81 0l5s.
1he second decline was caused by the report
OF the closing OF the Exchange at Buenos
Ayre-, owing to the Generalization of the
finances ;here and an advance of % per cent in
the gold premium. There was another gradual
recovery and the price had worked up to
q O-12' wnen telegram was received from
Minneapolis quoting cash wheat as selling
there at Sjc compared with SIC on Thursday
last upon the showing around of which mes
sage the price shot up at once to 81 c. There
still another such rise in ore: this time in
favor of the short sellers on grain the price
dropping very suddenly to 81 Ol34. These
changes were crowded INTO the first half of the
session, ana about u O'clock the price had
again recovered TO 81 OPS The December de-
livery was difficult to trade in. seller having
as a rule TO keep Offering it down &c below the
usual spread. and q buyer. on the other hand
had to bid II up about &c before finding Gus
TONERS.
The failure of an important cotton hou. do
ing business at Memphis, New Orleans and
New urk was reported shortly after nonn
The bull ammunition had been all expended
previous TO this time and the bears picked up
the prOnts IN their scalping trades and retired
satisfied with the verificatiOn of the predictions
they had made before the opening. One of the
influences tending to the weakness in the last
hour was the report that the shipments from
Russian and other ports last week were 2OS0-
QUO bushels
The trading was very heavy and some big
bears worked tooth and nall to get the price
down. Ream. Cudahy and Linn were disposed
to have sold very heavy ON every hard spot
and Hutchinson was buying openly in small
lots and selling in wholesale parcels through
brokers. closing prices were &c over the low
est prices of the day.
The corn market was fairly active and dur
ing the greater portion of the day 1t was strong
and higher. There was considerable nervous.
ness in the trading and the fluctuations ap-
peared governed in a great measure by the
changes in the price OF wheat. The opening
price for Nav could not be exactly determined
except by striking an average, which was taken
a. being 5513c. The range in the pit at the
moment OF starting was from SOL &c to 55slc. 1t
advanced to SIC and December ended to 553lc
al one time, but very little was sold under SOC
untII near the end of the session. There were
sellers at 55c as trading ceased.
oars were moderately active but without
features of importance. After opening Lc
higher, prices advanced sc, receded &c. but
arsin rallied 15c. The weakness and decline in
oTper grains and fair selling price advance of
&c. and the market closed quiet at about in
SIDE fiGures.
and prices fuctuated considerably within a
moderate range. Prices ruled 71@@ll0c higher.
Later there was little more pressure to sell.
and prices gradually declined l215@l5c. Market
closed quiet.