Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-04-03
MARKETS BY WIRE.
Bull News All Along the Line Causes a
Bulge in Wheat-Prices Kept Down
by Heavy Selling-Corn Steady
nofs


Bulge in wheat-Prices Kept Down
by yHeavy seIling-Corn Steady
and Oats Excited.
CHICAGO-A heavy demand for cash wheat
and the state of affairs abroad shown by the
tone Of the cablegrams, which plainly indicated
serious apprehenslons regarding supplies
spreading in England, made it easy to advance
the price spite of the determined efforts of
many heavy sellers to prevent it May wheat
opened firm at 81 041% and closed strong at 81 O5
bid. or about lc improvement on the price cur
rent at the corresponding time yesterday Corn
was steady to firm in sympathy with wheat and
gained &c. Provisions, after a weak start,
braced up and closed firm 1T the best prices of
the day.
While the foreign news was mainly RESPONSE
BILE for the advance in wheat, local influences
also made for higher prices. The state of the
weather was disduieung TO shorts and those
of them who trade on the principle of submit
ting TO only small losses were the principal
buvers. From 81 04I& May quickly shot I'D to
81 O4sz. but not with heavy selling orders at the
latter price, and fell back slowly to 81 04lL.
The trading was only brisk in spots and the
fluctuations for long time were confined
within comparatively narrow limits, the figures
already quoted marking the extremes during
the first Ealf OF the session.
Bull news was crowding in over the wires,
but every bulge met by heavy offerings
from the bear contingent. The taking of con-
siderable lines of spring and winter wheat from
store here to 90 East by rail so close TO the
opening Of lake navigation was the cause of
further desire to buy on the part of the shorts.
There was an advance on this TO 81 D. and the
reaction from that point did not carry the
price below 81 041%, and that was followed by
another bulge and jump to 81 O31s. New
York reported u boatloadS OF wheat worked
for Lisbon, Minneapolis millers were bid Is
advance on patents. The closing cables report
ed Berlin lower for wheat futures by from &c
to 1c per bushel. London was Sd 20 41ad per
husEel higher. Paris advanced 10 centlmes on
wheat and centimes on -four.
The damp weather and light receipts were
fayoraele 10 holders OF corn, but prices were
maintained with difficulty early IN the day
owing 10 an apparent willingness to sell on the
part OF some of the firms who were identified
with the Dull clique during the previous heavy
advance. The opening for May was Csc and 1t
declined to G715c and advanced again. striking
GS5sc for m0ment
Considerable excitement was occasioned in
oats by dispatch from Frank Ryan, of ST.
Louis, to W. G. Mccormick. 1t reported a
corner and an advance in May from 5Sc to 5Sc
&c Of which was subsequently lost. The market
attracted large attendance of traders and
was excited. hut not particularly active, Nav
started at 541zc, or sc above yesterdays clos
ing and sold TO 535sc, hardening to 55c on the
strength of the above mentioned dispatch Ii
reacted TO 541Hc, but recovered and closed firm
IISc higher at 5jc. A blizzard which was re-
port, 20 be raging in Nebraska helped the
advanc'.
Tie provision market immediately at the
starr was fayoring lower prices but after a
lnomentary drop there was a sudden bulge fol-
lowed by another weak spell and that in turn
by an advance which left the prices at about
their best as the market came TO a close Nav
pork closed Sc higher than it did yesterday;