Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-19
GRAIN MARKETS REVERSED.
Wheat Now the Strong Point and Corn the
Weak-Prices Easier on Oats-Provis-
ions Advance and Then Go Back to the
Opening Prices


Weak-Prices Easier on Oats-Provis-
ions Advance and Then Go Back to the
Opening Prices.
CHICAGO-Wheat was more active to-day
and strong most of the session. For the first
few minutes it seemed inclined to be weak
then wobbled little, but finally struck its
gait and sold UP 1c, and held firm most Of
the day. Corn held firm for a short time
and then f1attened out. September closed
1ac lower than on Friday. Pork, lard and
ribs had an early advance and a subsequent
decline, leaving them about at yesterdays
closing quotations.
The very general, and in some places very
heavy, rains, together with steadier foreign
markets and an active demand for export
reported from New York and other seaboard
cities, gave to the wheat market its stronger
tone. The demand for the near months was
better than it has ruled of late, more especi-
allv for August and September. 1t was as
serted that probably IS per cent of the re-
ceipts to be expected here for the next two
months were already placed for shipment to
Eastern millers and foreign countries.
The opening price for December was s61l@
s65sc, followed Immediately by a drop to
s6ssc. 1t stiffened up and reached $3.50 in
about an hour from the start, with q strong
feeling on the advance. 1t held up well, be-
ing supported by an active demand for cash
wheat and decided improvement in July
and August which were both in good re-
quest in the pit. A sudden drop in the price
of corn and an estimated receipt of 525 cars
for Monday weakened wheat somewhat
toward the close and December sold off to
s61%c: but the reported sales from New York
of go boat loads and the active inquiry for
cash wheat here steadied the market and
the close was firm at s65sc for December and
s6Mc for July.
Corn was steady and seemed inclined to
flrmness early i'll the session. shorts taking
hold very freely, and September opened 11Ic
better than it closed last night selling at So
@53Hc, but the cash demand was not so
urgent, and prices were easier, owing largely
to the fear that shipments made now by lake
and canal cannot reach the seaboard in time
to fill sales for July. Then came the esti-
innate of 525 ears for Monday, and there wns
a season of free selling, under which Sep
tember broke to 5lKc-a decline of 1le-re-
acted some, and at the close was about 521Sc.
August fell from $3.50 to 5435c.
Oats ruled lower mainly on the increas-
ing receipts of new oats, II cars having been
inspected to-day. July was traded in spar
ingly and sold from 345Sc to 34c. August sold
from 271ac to 271sc, and September from 27c
to 261dc.
Pork was nervously strong and higher, but
lard and ribs did not share in the strength
in pork. Prices at the yards were 10c higher.
This started shorts to covering, and Septem-
Der pork sold from sl1 20 to $11 5O fell to
sI1 20, reacted to 81 80, then broke to s11 Is,
but at IL o'clock was Sll l56l1l 20. Septem-
ber lard steady at Sc 5566 co. while Septem-
Der ribs sold at Sc 7O96 Is, and at II O'Clock
was Sc 20 bid.
The leading futures ranged as follows, as
corrected by John NJ. Oakley & Co.. As Sixth
street. members of Chicago Board Trade: