Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-12-02
WHEAT, CORN, AND PROVISIONS.

& Co., of November 28th ssys:-
WHEAT.-This has been rather an off
week in wheat, owing to the arrival of
THANKSGIVING Day, which is usually &C
companied for few days before and after
by general indisposition to do business,
and also owing to the almost eomplete pros.
tration of the wires east of Chicago by the
heavy storms of Monday and Tuesday, and
the consequent dullness resulting from this
lack of telegraphic facilities, which Is al.
ways keenly felt 10 speculative markets.
Trade has been principally of light local
character, with an undertoue inclined for
the most part to weakness. Nothing, either
from home or abroad, has been of nature
tending to encourage purchases, and as the
bears we're not inclined to be very aggres-
siye, the net movement in prices is not
large, and the professionals have been dis
posed to even up their CONTRACTS over the
holiday week. There has been 40 Rlateri.
allzation of the foreign buying which, it
was hoped, would accompany the final pro-
hibition by Russia; and not only this, but
foreign markets. instead of bracipg up, sag
god even further, without any show of q
revival of life. This YVES certainly discour-
aging to the bulls, but no more than we
expected, for we said long ago that the eff.
feet of Russia's action had been discount
ed, and the actual issue of the "ukase''
ought not to cause much, if any, further
advance. Added to this is a general In,
crease in stocks both at home and abroad,
and also ON passage. The visible supply
increased this week 2, 1856, 900 bushels, which
brings the total over Al, 600, COO bushels,
against about "a, 0O0 900 bushels last year
at this time Bradstreet estimates an in
crease in the supply in sight, both east and
west of the Rockies, of nearly 5000, 900
bushels. The amount of wheat on passage
increased nearly 1900, 900 bushels, making
the total SO, 1872, 900 bushels, and, as q caps
heat, the English visible supply showed a.
heavy increase, resulting from extra large
farmers deliveries of native wheat. These
have been the principal factors during the
week, and little of bullish nature has pre-
scented itself. The movement of wheat in
the West is heavy still, and the prospect
of further increases in stocks on hand, with
only a moderate export, is not at the mo.
ment encouraging, when taken together
with the depressed foreign markets and the
inclination on the part of Europeans to sell
in our speculative markets. The condition
of our winter wheat has been improved |
somewhat, according to the Government
weather bulletin, by warmer rains; but, at |
the same time, the crop will not go into the |
winter this year in nearly as good condi. |
ton as it did last year, and unfavorabie |
crop news is liable to have strengthening
effect on prices at any time. There il not |
much news of positive nature just now to |
bull wheat on, still we are inclined to re. |
purchases now for turn on all |
breaks.
CoRN.-The November and December |
options are still leading the market, and |
the principal activity and strength are in |
those months, the others being rather dull |
and rejecting the strength of the near flu, |
lures but to limited extent. The receipts |
of corn are moderate, but the grading is |
very unsatisfactory, aud the clique appear |
to have the market we'll in hand. Their |
is on the basis of this poor |
grading. for if it continues it is feared that
there will not be sufficient contract corn iu |
the West available to supply the export de
mand and have enough left to fill in the |
short interest, and consequently the efforts |
of the clique have been materially aided by |
the nervous covering of short contracts |
The heavy SHOWS throughout the West dur |
ing the latter part of the week will have |
the effect of still further delaying the coun.
try movement. and unless good portion of
The outstanding short interest can be Gov
BRED by private transactions, further ad.
vance would not be surprising.
PROVISIONS are still in disfavor, and the
trading in them is only on a moderate scale.
There have been short periods of frmness,
continued strength in corn; but, for the
most part, particularly in the far options,
here has been 70 marked tendency to i'm
NOVA thouph toward tha clooo NJ the