Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-23
GRAIN GOING UP.
The Boom of the Day Before Continued
Yesterdsy-A General Advance-wheat
Closes Nervous and Fluctuating-Hog
Products Up, While Hogs Are Down,

The Boom of the Day Before Continued
Yesterdsy-A General Advance-wheat
Closes Nervous and Fluctuating-Hog
Products Up, While Hogs Are Down.
| CHICAGO-There was another boom in
wheat to-day and another advance in prices
| was scored. The early news was nearly all
of bullish character. A foreign crop au-
thority gave an estimate of the worlds
wheat crop. which made the total yield of
the year so, 600 900 bushels short of the con-
sumptive demand. Paris cables reported
an advance of l franc on wheat, and IL
francs on -four based on late Russian ad-
vices and the fact that the French crop is
turning ont worse than expected. Liver
pool was firm. Rains and warm weather
in the Northwest caused fears of damage
from rust, and, finally, the receipts were ITO
cars under the estimates. About the only
beariSh piece OF newsstand it had little or no
effect-was cable, saying that prices had
fallen marks in Bremen because of the
collapse of the July corner there, and that
the clique were settling with the shorts.
The market opened quiet, and for the first
Is minutes trade was dull and the feeling
seemed inclined to weakness. For a time
the buying was slow and cautious, and the
selling rather free. For some time Decem-
Der held between SSl4 and 1885,, and showed
no decided trend in either direction. Then,
to aid the bull news already received, in
cluding a rumor that Russia had prohibited
the expectation of breadstuffs, came heavy
buying orders from New York and st. Louis
and the Northwest also began to take a
good deal of wheat. Shorts took alarm, and
under the sharp buying the advance was re-
maTkably rapid. December selling up to S93
in few minutes and with much excitement.
After touching S919, realizing sales sent it
back to S91s. 1t reacted to sS5s and receded
again to S9Is. After the noon hour the mar
ket was unsettled and alternately weak and
strong. December sold up to S95s, back to
sS7s, then up excitedly to 900. The feeling
toward the close was Very nervous and
feverish, with advances secured more easily
than declines. The close was at S9}s against
s9l4 at the close yesterday.
Corn was strong most of the day. There
were few weak spots, but they did not last
long. Shorts seemed disposed to cover
while there was not much for sale. After
time the sharp advance in wheat gave much
strength to corn. Receipts were lighter
than expected. As the day advanced the
market continued to develop strength. The
shorts covered freely. There was an active
demand for the cash article, and this stirred
up the shorts in July, who excitedly bid that
month up to 6019c at the close. September
started at 5S5sc, sold up to 5Sl4c, rallied to
543sc, broke to 5234c, then near the close
doomed to 55ssc and closed at 551sc.
Oats were strong and higher, July showing
the most strength on the small receipts of
new oats. That feature closed at 4lc against
Sjc at the close yesterday, while September
closed at 27Isc against &c yesterday.
Hog products were higher in sympathy
with wheat, though hogs were lower. Shorts
in pork became alarmed and proceeded to
cover their trades amid considera bic excite
ment. The bulls were assisted by higher
prices abroad. September pork opened at
Sll 4215, broke to Sll 90 sold up, with Some
fluctuations, to $ll 20, receded to $ll 65, raj
lied to Sll S5 and closed at Sll 7215, against
Sll 4713 at the close Yesterday. Lard closed
with AN advance of l0@l219c, and ribs were 5
@71ac higher.
The leading futures ranged as follows as
corrected by John NJ. Oakley & Co., 45 Sixth
street, members of Chicago Board Trade