Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-10-03
A GRIST OF BULL NEWS.
The List of Influences Which Doomed the
Wheat Market Yesterday-COrn Active
and Buoyant-Oats Firm but Inactive
uo0 produots Arc Strong.

The List of Influences Which Doomed the
Wheat Market Yesterday-Corn Active
and Buoyant-Oats Firm but Inactive
Hog Products Are Strong.
CHICAGO-Wheat was very strong TO-
day and scored an advance of 20213c. Ihe
tendency of prices was generally upward
from the start. The reasons assigned ior
the advance were the recent rains ana Dad
weather in the Northwest, which, IL Is
claimed. have affected the wheat in the
shock larger clearances from the seaboard,
the covering by shorts, and the generally
stronger tone of cable advices. The mar
ket, no doubt, was q short one, operators
| being of late inclined to the selling side,
and the rather firm undertOne induced many
to cover.
Early Liverpool dispatches quoted that
| market quiet and q shade lower, but last
cables quoted a steady market, with no de-
cline except for California November de-
| livery, which was held lower. London was
unchanged and so was Antwerp, while Ber-
| lin was l3I02c higher, and Paris flour was
! higher and wheat unchanged. Private
| cables said wheat i'll Paris was strong. and
Liverpool cable said that the French were
bidding for red wheat. The official report
of the French wheat crop estimated the
yield at 100000 900 bushels, against the final
report for 1890 of 32S, 900 bushels and for
1889 of $4,000, 900 bushels. The estimate of
this years crop is somewhat in excess OF
previous reports, but did not have any
clearances We're larger and aggregated I69,-
100000 bushels. New FORK reported 10 loads
taken there Tor export to-day. The London
stock of wheat was reported to have in
creased 5000 600 bushels, and the stock OF
flour is also reported as showing large in
crease. Domestic markets were higher and
the receipts in the Northwest were larger.
New York and st. Louis operators were
active buyers in this market. Liberal rains
were reported in Kansas. Nebraska and
Missouri, where moisture was greatly neeced
for the fall plowing. December opened at
973l, against 971%c at the close yesterday;
sold up to 9s1lc, OFF to 9774c, up 1rregularly to
991lc. off to 9SIc, up to 99c, off to 9S4c. up to
9gc again, then to 9S7Sc, and during the last
few minutes bulged to 997sc, closing strong
at 993lc.
Corn was active and buoyant, influenced
by the extremely light receipts the strength
in the wheat pit and the active covering by
shorts. The inspection sheets showed only
IL cars of corn inspected in, where l3O had
been looked for, and the out inspection was
liberal, amounting 0S0 bushels. Shorts
started ut once to covering. and the offer
ings being light strong feeling ruled. Oc-
tober opened at j36D5}14c, against SIC at the
close yesterday, sold up to 5334c, broke to
$3.50, reacted some, and when wheat moved
upward and the estimate of only 100 cars for
tomorrow became known there was quick
lump to 543lc. This was the top figure, and
reaction set in during the last hour which
Carried the price down to $3.50. 1t advanced
again. however, and closed 54sc.
Oats were firm in sympathy with corn, but
trading was light.
Hog products were higher, owing mainly
to the big reduction in the stocks of most
articles during the past month. Ribs were
reduced the most and were strongest, with
shorts active buyers. During the last hour,
however, there was a partial reaction. and
the close shows an advance of l71%@25c on
pork, 213671Sc on lard and 10l25c on RIBS.
rected by John NJ Oakley 4 Co, 4j Sixth street
members of the Chicago Board of Trade: