Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-18
MARKETS RATHER MIXED.

Wheat and Oats Weak, but Corn and Pro-
visions strong-Almost a Panic in the
Oats Pit-No Apparent Sympathy Be-
tween the Cereals.
CHICAGO Wheat opened lower and the
| news was generally unfavorable for holders.
| Offerings were free, and about the only de-
mand was from shorts who wanted to cover
their sales made at higher figures and take
their profits. This they were enabled to do
| advantageously, as their taking5 were on a
market the tendency of which was down
ward.
The opening sales we're about Nc decline
from last night, and finally lost about as
much more, but reacted later. The situa-
tion, both at home and abroad, seemed I'M
mistakably bearish. Liverpool cables
quoted decline of I'D on spot wheat and
Id on future, while private advices from
Paris reported decline of u franc in that
market, with weather brilliant and crop
prospects improving. The weather in this
country was favorable for harvesting, and
the receipts at the winter wheat markets
were large. About the only comfort the
bulls got was that Portugal had reduced it's
tariff on wheat one-half
A reported failure in the grain trade in
London, reports OF big yields from thresh-
ings, and weakness in nearly all markets at
home and abroad, were depressing factors.
December opened at s6l@S615c, fuctuated
downward to SEC, rallied to S6ssc, and weak
ened to S613c. Later the market was
strengthened some by the liberal export
vance reported in Berlin and December sold
at 96Ac. Later cables, however, showed
weak and declining markets at Paris, Liver
pool and London, the last mentioned show
ing break of Is I'D, equal to over cents
bushel. December weakened on this to
s6ssc at which it closed.
Corn showed much strength on the smaller
rpcp1Dta than eYpncta0 firmpr rrcas in,
New York, an active demand for cash and
light offerings, and was also helped by the
advance in provisions. Shorts showed a
good deal of alarm and covered freely. Sep
tember sold around the opening at $3.50
5314c, and went up quickly to $3.50; but at
thiSspoint the selling became free and there
was drop to 52s4c, but this was followed by
a reaction to 5355sc, but broke again with the
late weakness in wheat and closed at 5234c.
Oats were weak, and one time rather
panicky, and especially for August, due
chiefly to a rumor of large receipts of new
oats tomorrow. July was steady at 34l4@
34115c. August opened at 2s14c, but soon be-
came slumpy on the free selling and fell to
&c, but reacted to 2sc. September sold from
27& to 261ac, but recovered to 27Ac.
Provisions started in excited and higher,
especially pork. Receipts of hogs fell below
estimates, and prices at the stock yards were
higher Then It was reported that France
was about to reduce the duty, and shorts got
excited and began to cover. The whole
crowd seemed to be bullishly inclined. This
IeellnS WAS dSSlsttu ny I'LL dTtlClc Iuo Clu-
cinnati Price Current, which, taking the
stocks in hand and the probable packing,
estimated that the entire product would be
taken for consumption. September pork,
which closed at $40 9713 yesterday, opened at
S1I O5, advanced irregularIy to $11 50, broke
to $11 25 advanced again to $ll IS: then, the
shorts having covered, weakened to $l1 10,
advanced to s1l 20, and closed at 81 Is. Lard
was less irregular opening ut IS 571%, ad-
vancing to Sc 6211S, and closing at $6 IS, the
bottom figure Of the day. Ribs opened at
Sc 721S, advanced to Sc 80, reacted to $6 8715,
and closed at Sc 80.
The leading futures ranged as follows, as
corrected by John N. Oakley & Co.. As Sixth
street, members of Chicago Board Trade: