Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-02
WHEAT VERY CHANGEABLE.

Yesterday the Bears Were Ahead Again
Until Near the Close, When a Squirt
Took PIace-Corn Weak at First, but
Soon Braces Up.
CBICAGO-Again ths sentiment in the
wheat pit changed during the night. Yes
terday it was bullish and an advance of over
cents was scored to-day it was bearish and
at the bottom price of the session was So
cents under yesterdays last price, though
the close showed a recovery of cent
The wheat bought yesterday for Decem-
Der at around Sl.G4 was ali for sale at n con
ideraDle red ction as soon as business
started this morning, Buyers were as hard
TO find at the start as sellers were yesterday
morning ntll the asking price had gotten
down to to q bout Sl.021I. There were a few
sales at Sl.O3 snd some at $l0215, but the
great bulk of the first trades were ma de at
around SL023s@IO2 with the offerings SO
great as 20 prevent any recovery to speak of
from those prices.
The estimates this morning, based on the
per centage figures of the Vienna Congress,
were much less bullish than those made
yesterday, as they put the worlds shortage
in wheat at only $4,000 bushels. There were
Eot lacking those, however, who were una BILE
10 see how these figures were arriv ed at.
The trade, no ever, inclined strongly to the
bear side, and heavy business was done
The price tended strongly downward and
not until after December had sold as low as
Slclls was there any rebound from the sever
Al lcsSes it had made.
There was some good buying, partly for
foreign account, about midway in the ses-
sion, which caused sudden squirt to 81 OK.
The Board of Trades second Liverpool
cable, showing a decline of from 3Ia11d,
coming to hand about the time OF the cul-
usin&tiCp of tie temporary advance gave
more encouragement to the sellers and they
quickly forced the price down to ST Oo15
There was some tendency toward q Slight
recovery from the last drop during the last
hour, hut trading, which up to that time had
been brisk, cuieted down and orders from
the outside almost ceased. There was the
usual active spurt during the last ten MIN
Etcs OF tie session. The price, being in
fuenced by the closing bulge in corn. recoy-
cred 10 and closed at 81 Gl15.
The corn market creBed weak. with
hoiders trying to get5sc Tor October but no
buyers could be roiInd at above 57slc, and
not very many at that j155c, or &c below
where 1t had closed yesterday being
reached before buyers iii any number could
be secured. The tendency continued down.
ward for sbout an hour, IN sympathy with
rEe weakness IN wheat, but after October
had declined to 5613c tho market began to
take an independent course, and a recovery
to sc took place, and after temporarilv
Siuctuating between the latter figure and
5G5+c is made rapid advance to 5slZc. Firm
ness was the latest Characteristic OF the
trading and the reactions in a downward
direction were quickly recovered from 5s1sc
being the trading price ABOUT 90 minutes
from the close Of the session, with the short
sellers evidently anxious, as shown by lc
furtaer advance in the following five min
ufes, 5a1%c. and for one or TWO lots 5g3Ic
being paid The closing quotation wss
5T<c The advance was very evidently the
result OF manipulation. The fluctuations
were confined to q range of &c.
The provision market was easy at the
opening, in sympathy with the decline in
corn ana wheat at the same time, but
quickly firmed up on some buying orders
End remained rather strong during the rest
Of the session. Pork shows an advance of
2Oc over yestei days closing price; lard is
5G111ac higher and ribs l19l71sc.
The leading futures ranged follows, cor
rected by John NJ. Oakley & Co., Is Sixth street.
members OF Chicago Board Of Trade: