Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-02-27
MARKETS BY WIRE.
A Bulge in Wheat on Sensational Reports
of Damage to the French Crop
Some of the Gain Lost-Pro-
visions Dull.

CHlCAGO-The continued reports of damage
to the French wheat crop and the cold weather
were the influences under which May wheat in
Chicago closed &c higher than on the day be-
fore. The price started with jump of nc over
Wednesdays closing price. $3.50 being bid for
May. There were some sales at that price, but
it soon advanced to 961sc, and was up to E1Sc
inside of the first 10 minutes trading. At the
end of the following 10 minutes it was back
again to 967sc.
For an hour or SO the fluctuations were be-
tween 97c and S71zc. but on the receipt Of some
rather sensational French cable dispatches there
was sudden bulge about II o'clock to VIC.
Another dull and weak spell succeeded, lasting
to within half an hour of the close, during
which the price sagged 10 9634c, but cid not re-
main long at over &c below SIC.
The damage tothe French wheat crop. re-
ceiving, as it does, a stronger confirmation
daily, is becoming powerful factor in favor Of
greater calamity has stricken the French wheat
growers than the American winter wheat
farmers suffered from last year.
There was an advance to 9736c for May wheat
about 1850 o'clock, and by p NJ it was down
again to $3.50. The most of tire early selling
was against calls, the opening price having been
very close to the price at which the most of
these privileges have been sold. On the several
advances which took place the buyers who had
wheat bought at below &c sold it out and the
present position of the market appears to be
made their bets and are unwilling to increase
their amount further than in scalping ventures.
which are not allowed to run beyond N97ac
profit or loss
Corn was In the hands of small clique of
bulishly inclined traders. who advanced the
price for May to 565sc. but the closing figures
were 50Jac, or &c higher than it closed yester-
day. There was not as much excitement in the
pit AS the very considerable range of the fiuc-
tuations in the price would ordinarily indicate.
May opened at 5534c, with one or two transac-
tinns at 5O5sc. but the tone soun became much
more bullisb, and an advance to 5611Q565Sc had
been brought about before the session had run
the first moety of its course. 1t sold back to
5615c and again up to the highest point pre-
vously touched before it finally settled down
around its final resting place. There was one
transaction i'll the course OF the day at 565Ac,
| which is 5Sc higher than any previously re-
| corded rate of May corn on the present crop.
The squeeze was still on IN the oats deal. The
| advance to-day amounted to 1Lc, and it estab-
lished the highest price of the season. 4S3lc. for
| the May future. There is considerable short
| interest, but neither scalpers nor commission
houses have oversold.
The provision business was rather dull.
| There was less bidding on oats from outside
| orders, and at the same time were not pressing
| with their offerings. The hog receipts were
| again liberal, numbering 4l,0OO and the pack
| ing IN the West for the week, as figured by the
| Cincinnati Price Current, was 10000 ahead of
the corresponding week of the past year.
| The leading futures ranged as follows as cor
rected by John 81. Oakley & Co., 45 Sixth street.
members Chicago Board of Trade: