Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-20
THE BEARS REIGN OVER.
Bulls Once More Turn the Trend of the
Wheat Market-Not a Furore to Begin
WitIi-Corn Nervous and Fluctuating-
Provisions Down.

Bulls Once More Turn the Trend OF tho
Wheat Market-Not a Furor. to Begin
Wi.I-Corn Nervous and Fluctuating-
Provisions Down.
CHICAGO-There was decided improve
ment in the am ount of business done in the
wheat pit on the Board of Trade to-day in
comparison with that of the past few days,
though it was chiefly of n local character.
Prices started at about the closing figures of
yesterday, but the tone of the market was
hesitating and uncertain for time. The
chief influence here during the week
has been the foreign situation, which
has been intensely bearish. Both
the British and continental markets
have not only been quoted lower from day
to day, but accumulated stocks and very
limited demand were noted in day cable adj
vices. For the last two days, however, the
sentiment here seemed to be veering toward
the bull side. and operators were more and
more inclined to think the prices had
reached point at which it would pay to
buy. 1t needed but q turn i'll the trend of
foreign advices to translate this sentiment
into a moderate buying movement.
The early adYices from across the water
this morning were conflicting. The boards
Liverpool cable quoted wheat futures 15@l
penny higher and the market active, but its
London dispatch noted a decided decline in
values. This was thought to be error,
but 1t was sufficient to becioud the situation
somewhat and to cause uncertainty. A few
longs made an effort TO unload, and the
bears sought to start raid, but it proved
failure. The later cables showed that for
eign markets were really stronger; that
there were liberal acceptances of last nights
offers and that foreigners were good buyers
at New York. Paris was said to have ad-
vanced sharply, and one private cable said
that Russian agents were buying large
quantities of wheat in Roumania.| This
news soon turned the trade. EARLY sellers
covered and went long. and the selling
pressure was quickly relieved.
There was no furore in the market. but a
strong, confident feeling and good liberal
buying. Trade, however, was neither heavy
nor very bread. May opened at 9714c.
touche 9155c, weakened to 97ssc, reacted TO
9Sc held around size for time weakened
to 971%c, but rallied some near the last and
closed firm at 01Mc.
Corn was decidedly weak early. Improve
ment in the inspection started pretty liberal
selling, and weakness was at once apparent.
increased the depre$ sion. Later, on the ad-
vance in wheat, the tone of corn improved,
but it became unsettled during the last hour,
going still lower and cloting near the bot
tom. The market was rather nervous. De-
cember opened 11ac lower at 4711c, and fiuc-
tuating as noted above, receded to 4534c and
closed at 45c. january shows loss OF 1c
and May of &c.
Oats steady and withot feature.
Hog products were lower. Packers were
free sellers from the start. The close was
near the bottom figures of the day.
The leading futures ranged as follows, as cor
rected bv John NJ. Oakley Il Co.. 45 Sixth street.
members of the Chicago Board of Trade: