Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-21
RUM0RS OF A CORNER.
A Tight Squeeze in November Corn
Whether the Gar Is Bull or a Bear Is
Still the Question Agitating the Wheat

Whether the Gar Is a Bull or a Bear Is
Still the Question Agitating the Wheat
Pit.
CHICAGO-The threatened Russian ukase
| was again the controlling factor in the
wheat market. Indeed, so persistent and so
regular have become the rumors that the
Cars order prohibiting expectation from
Russia has been issued, and so regularly
! have these rumors been proven false, that
traders are anXiously looking forward to
the day when the ruler OF the Russias will
have made his intentions known. Another
Russian ukase story was out early to-day,
and it was to this that the unsettled feeling
which xisted all day was attributed. Ad-
vices from New. York were received early
this morning, saving, Prohibition of wheat
decreed by Russia
This caused shorts to cover and created
the higher opening. Liverpool coming in
higher, after the decline of yesterday, made
operators believe that there were, perhaps,
some truth in the.rumor, and there was con-
siderable covering by shorts and some buy
ing for a further advance. But there were
liberal offerings, good deal of wheat
bought at the decline of yesterday coming
on the market, and this caused a reaction.
But the market was again strengthened BY
further rumors regarding the prohibition of
wheat, and this time prices were carried to
the highest point, but again declined on
report claiming the Minister at st. Peters
burg refused to sign the ukase, and still later
a report was received that there was moth
ing i'll the early rumors, and that they were
false.
The opening was L@1c higher than the
closing of Yesterday, but declined about &c
from outside opening figures; became
stronger and advanced &c; again easeu on,
declining 1c: advanced &c; closed 5000
hi2her than yesterday.
There was great sensa tion in the corn
pit due to the extreme anxiety of those who
were short for the present month and the
rumorS of a corner. November opened at an
advance of nc, and in the course OF the day
made further addition of SIC to its value
December and year corn were affected Dy
the scare in November. and advanced in the
course of the day nc over Yesterdays CLOS
ing quotations, retaining full cent OF the
advance ut the close. May felt the Novem-
Der squeeze to the extent of &c advance at
one time, and left off with gain OF nc. The
cash market was in a rather dlsJolnted con
dition on account of the above-named sensa-
tional jump, but prices were fayorably
affected, No. selling as high as SIC.
The oats shorts took fright at the bulge in
November corn, and forced the November
future up nc in their efforts to cover. The
May future failed to keep pace with the nd
vance, and the nearby delivery sold at one
time at nc above it. The market opened Is
@ssc higher for both November and May.
The former advanced to $780, and the latter
to 33@331sc. Shortly before the close Novem-
ber turned down to 33l4c. 1t recovered after
of the session. May closed at 33c, sellers.
The imagination of some of the traders in
provisions appeared, from the reported re-
ceipts of hogs this morning, to have been
drawn upon considerably yesterday, when
predicting what might be expected in the
way of hogs at the yards this morn
ing. The receipts were by no means small,
but, being considerably under the previous
estimates, and the demand for the time be-
ing reported good, caused provisions to start
firmer and at some advance upon closing
quotations of the day. December pork
opened at So 45, sold as high 50 go and
wound up at same price as it opened. Janu-
ary. from s1l 90 sold up to Sl1 321a and closed
at Sill 50, being gain for the day of 15c.
Lard was not affected by advices from Liv-
erpool of Sd decline there. 1t followed
the upward course of pork and ribs, closing
with gain of lOc. Ribs are higher at the
close to-day by &c on May and TIC each on
December and January.
The leading futures ranged as follows: as cor
rected by John NJ. Oakley & Co.. - Sixth street,
members of the Chicago Board of Trade: