Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-11
CONSERVATIVE BEARS.
They Are in Control, but Are Satisfied With
Making a Dull and Easy Grain Market
Uncertainty as to the Coming Govern


They Are in Control, but Are Satisfied With
Making Dull and Easy Grain Market
Uncertainty as to the Coming Govern
ment Crop Report.
CHICAGO-Bear sentiment was in the pit
this morning, but was not aggressive and
contented itself with making dull and easy
market. This was expected, because there
was nothing in the news to unsettle traders
in the attitude of expectancy with which
they were awaiting the appearance of the
monthly Government crop report. The
weather continued favorable for the gath
ering in of the harvest; cables, while quoted
firm at Liverpool, showed no advance else
where; the receipts of new wheat were
heavy, being 14S out of total f162 cars, and
l22 cars of the new graded contract. The
receipts of new wheat were also heavy and
increasing at all winter wheat points.
In the absence of any stimulating news it
should be downward. Longs and shorts
offered freely for q time, but when the last
figure of the day was reached the shorts,
who had sold with considerable freedom
around the top yesterday, saw 40 Opportu-
nifty to scalp good profits and began to cover.
About the same time New York buying or
ders began to come in. This buying, with
late private cables quoting a better tone,
of % boatloadS there for export, and the re-
ported loading of 100000 bushels here, had
strengthening effect, and caused q recovery
to near the closing price of yesterday.
This proved only temporary, however;
fears of the Gov vernment statistician again
took possession of the traders. the market
grew dull and again Sagged off to the bot
tom figure, but rallied q shade before the
close. December wheat opened at S65sc,
against soc at the close yesterday, sold off to
ss3sc. rallied to Ss7sc, dropped again to sS7sc,
and closed at SS1ac.
Corn opened weak and lower, CHIEFLY be-
cause of the continued favorable weather
for the growing crop, and because the re-
ceipts were about 80 cars above the esti-
mates. There were free offerings at the out
set, with only a limited demand; but bust
ness was not pressed, and there was only
small recession from the opening figures.
This was succeeded by better feeling later
when wheat began to advance. Shorts
in corn began to cover and at about the same
time to realize profits, and an Improvements
in values took place. An active demand and
better prices for cash corn, also, had a
tendency to advance futures. Another ele-
ment was the free movement of that cereal
Chicago alone shipping $4,000 bushels, with
the aggregate for all points of 81, GOO, while
the receipts were only $4,000 bushels. Sep
tember opened 51ss@5l15c, touched sic for O
moment, hung within the opening range for
a time, went to 5ls4c, receded and closed at
5l8c.
in September confined to 2SI62s12c.
Provisions were generally strong on
smaller receipts of hogs and better prices at
the yards. Packers were good buyers. Sep
tember opened unchanged at $40 2715 sold to
$40 80 and closed at $40 4715 making a net
gain of .Oc. Lard advanced l5c and ribs
171%c.
The leading futures ranged as follows, as
corrected by John NJ. Oakley & Co., As Sixth
street, members of Chicago Board Trade: