Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-05
PROVISIONS THE FEATURE.
The Removal of the German Embargo on
American Pork Booms Hog Products,
and Incidentally Corn-The Latter Opens
a.

Inc Removal Of the German Embargo on
American Pork Booms Hog Products,
and Incidentally Corn-The Latter Opens
Lower-wheat and Oats Quiet
CHICAGO-Only a moderate business was
| transacted in wheat, and while prices were
| subject to numerous fluctuations the
| changes were within O smaller range than
| usual. The market was governed a good
| deal by speculative operations-according
to which way the majority of the orders
happened to be.
Wheat showed little strength around the
opening, Unfit enced chiefly by the fact that
cables quoted Liverpool I'D higher on
futures. There was some good buying at the
| start, partly by the local professionals and
partly on outside account. New York had
some buying orders at the opening, and
there seemed to be but little for sale.
The first trading in December was around
| 81 Oh and 81 or the market getting little
strength from the excitement which ruled
in the provision, pit; but the demand soon
slackened, and New York turning sharply
| to the selling side that market and the
Northwest being weak, there was an trregu-
| lar decline to 81 001S. The decline reached a
| good many buying orders, and rumor gain
| ing currency that Germany was to remove q
| part of the duties on American grain, there
| was something of a rally, December fell back
| to 81 OIL.
There was a decline to 81 90 1Sat noon The
market continued weak, declining to 81 00L,
but rallied near the close and closed at 81 oil.
Corn was lower owing to the fact that the
anticipated frostS did not materialiZe. There
was light one at Des Moines, but otherwise
/ there was no appearance of one in the cCrn
belt. As the market was bulled yesterday
on the danger of frost, the failure Of the pre-
dtction knocked out the prop, and q decline
| followed. October opened at 59@5911c, but
broke steadily to 5S4c. Then there was
gradual hardening, owing to the strength In
provisions and the large demand from
shorts, with a reaction to 5911c, eased off and
held for a time around 591lc, then sold up
sharply to 6O%c. The clique was said to
have sold freely on the advance After noon
there was a break to 595sc,a reaction to 6016c.
The market held around 60c for some time,
but finally weakened and closed at 593lc.
The advance to 60l4c was on scare about
manipulation and indefinite rumors of frost.
tember and October the trade is rapidly
drifting into the year and May deliveries.
Oats were comparatively steady, with the
fluctuations In October confined to range
OF nc, closing with 1sc advance. The re-
ported reduction of the duty on grain caused
q furry in rye, especially as there were
foreign buying orders on the market, and
that cereal scored an advance of &c.
Provisions were excited by the announce
ment that Germany had removed the en-
barge on American hog products. The
crowd was caught short and made haste to
cover. October pork sold from SO 7215@
10 95 broke to SO 70, reacted sharply and
closed at SO 90. against $40 GO at the close
Yesterday. Lard gained 15@2Oc and ribs III
@2oc.
The leading futures ranged as follows, as cor
rected by John M. Oakley C Co., IS Sixth street,
members of Chicago Board Of Trade: