Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-10-11
A BACKWARD STEP
Taken in the Wheat Market at Chicago
Foreign News Kept 1t Up at the Start,
but the Bottom FeIl-Other Produce

but the Bottom Fell-Other Produce.
CHICAGO-The price Of wheat was chiefly
governed by the tone of foreign advances.
Prices were higher most of the day as the re-
suit of speculative excitement and decidedly
higher prices in Liverpool, but toward the
close the prices abroad slackened, and, un-
der the heavy realizing sales market here,
responded, and all the gains over yesterdays
figures were lost, with something besides.
At the opening the Board of Trade cable
quoted futures in Liverpool 1@115d higher,
while private advices quoted the advance at
29213 pence. Continental markets were
quiet, but domestic markets all showed adj
vances, with New York in the lead and send
ing buying orders to commission houses
here. Logan, chwartz-Dupee, LamsOn
Bros, ahu kennett-HOpkinS were all liberal
buyers Mt the start and shorts covered very
freely. For few minutes it. looked as
though the market was shaping for boom,
but outside trade was exceedingly dull, and
after the first rush was over business got
very slack and realizing became quite gen.
eral, prices weakened, but still presented
very stubborn if not a strong front, and
yielded slowly. The bears were cautious
and kept near shore, SO they could readily
get into port on indications of storm.
The factthat the Government report was
due this afternoon had tendency to make
trade dull, as operators were disposed to
wait and see what the final conclusions on
the crop we're.
weather in the northwest, under which the
rain-soaked wheat shocks were reported to
be drying out rapidly with the prospect of a
general resumption of threshing on Mon
day, the market grew weak and continued
SO to the end. December opened at 81 00340
! 1Jl, touched 81 0l15. then receded with
numerous small rallies to 81 003s, reacted
and held for considerable time
around 81 0054, then on the lower cables,
the northwestern weather reports, liberal
realizing, and reports that foreigners were
re-selling, downward movement set in,
which con ntinued to the close, when the price
was at the lowest figure for the day and
weak at 9913c, against 81 0G1I at the close yes
generally stronger. though there was not
much animation in the trade. The speeu-
lative demand was only moderate and sell
ers were not urgent. Bartlett-PraZier were
buying moderately, while Baldwin, Kenneth,
Hopkins and Schwartz-Dupee were moder-
ate sellers.
The reports were only 81 car loads. Octo-
Der opened at $3.50, or nc higher than yes
terday's close, touched 534c, advanced to
5334c, then grew weak in sympathy with
wheat and the slump in hog products, and
sold off to 53c, at which it closed.
Oats were neglected and steady. Hog
products were very weak. packers selling
freely and bears raiding the market for
pork. With the exception of small rally
during the latter part of the session caused
downward throughout the day, with the re-
suit that pork shows decline of 4714460c;
lard is off 715@l0c and ribs 5(DI5c.
The leading futures ranged as follows, as cor
rected by John NJ Oakley & Co., a Sixth street.
members of the Chicago Board of Trade: