Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-12
GRAINS AND PROVISIONS.
Wheat Both Opens and Closes Weak-The
Bearish Governments Report Depresses
Corn at the Opening, but Quite Bulge
cucoaadas v1tt, Tator naclinas

Wheat Both Opens and Closes Weak-The
Bearish Governments Report Depresses
Corn at the Opening, but Quite Bulge
Succeeded, with Later Declines.
CHICAGO-wheat opened weak this
morning on the bearish tenor Of the Gov
ernment crop report which it was estimated,
presaged, according to the averages, total
yield of about $50, 900 600 bushels. The cables
told of lower markets at London and Liver
pool with brilliant weather there and but
little trading. Paris was also lower. In ad-
dition to this the receipts here and in the
Northwest were large.
As the result of all this bearish news, De-
cember wheat, which closed at 973sc yester-
day, opened weak this morning at 9574@96c,
and at once sold down to 951%c which proved
to be the bottom figure of the day. The
points received later in the day favored the
buying side, and were taken full advantage
of. The price advanced to 9614c, reacted to
951ac, and following that there was success
sion of bulges which carried the price to
9s34c, with an hour of the session still to come.
Orders to buy came from all points of the
compass. Locally for a time some opposi-
tiOn was offered to the rising prices.
In the middle of the excitement attending
the advance to 955{c, a European scare rumor
was promulgated. Late cables were firmer,
ported cold wave in the West, had SYM
pathetic influence on wheat. The market
eased off in the last half hour of the session,
and in the last few minutes IL was quite
weak and closed at 9s1Sc.
Corn opened weak ON the rather bearish
Government report heavy receipts and fine
weather In the corn belt None could be
sold for October until it had been offered at
55c, or &c below the closing price of the pre-
vfous afternoon. Great blocks Of 1t were
sold and more were wanted at that price,
and in consequence the price very suddenly
recovered about 1c. Later, the Weather
Bureau prediction OF O cold wave with frostS
in some parts of the corn belt tomorrow,
was received, and aided in q further ad-
vance There was an advance to 5615c for
October before much reaction took place.
From that price 1t declined to 551Ac, and then
advanced in successive stages and with
moderate intermediate reactions to 6J1Ic,
6611c and &c, after which it declined once
more to 554lc and closed at Sc bid.
Oats, while sympathizing with the other
cereals, were comparatively steady, the
fluctuations in October being confined to q
range of &c.
Provisions were very irregular, being
weak and strong in turns several times in
the course of the day. One of the weak spots
was at the opening. In fact, the lowest
prices of the day were made at that time,
largely in sympathy with the concurrent
drop of corn. The flrming up of the latter
market caused provisions to strengthen,
ceipts and higher prices for hogs, made the
market for the rest of the day, on the whole,
favorable to buyers. Pork closed 215QI0c
higher than yesterday. Lard was unchanged
to 215c higher, and ribs unchanged to l0c up
The leading futures ranged as follows as COR
rected by John N. Oakley C Co., IS Sixth street.
members of Chicago Board of Trade: