Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-30
GRAIN AND PRODUCE.
Trading in Wheat Was Not Very Active
An Effort Was Made to Check the Down
ward Tendency, but 1t Proved Ineffect-
ual-The Provision Trade Active.

Trading in Wheat Was Not Very Active
An Effort Was Made to Check the Down
ward Tendency, but 1t Proved Ineffect-
ual-The Provision Trade Active.
CHICAGO-Trading in wheat was not
very brisk to-day and the feeling tended
to weakness during the carly part of the
session The news was. all bearish. The
weather in the winter wheat belt was favor
able for harvesting operations; there were
some showers yesterday. but not enough to
interfere with the gathering of the crop. 1t
was fair to-day with high barometer and In
dications favorable for a continuation of
clear skies. Cables reported dull and lower
markets abroad and new wheat was begin
ming to arrive quite freely at st. Louis. Un-
der these conditions the demand was rather
limited and there was free liquidation OF
July which was comparatively weaker than
the more deferred deliveries. An attempt
was made by the bulls to check the down
ward tendency by circulating IA story from
New York to the effect that the injury to
the Russian wheat crop was so serious that
grave alarm was felt in that country and
that there was talk of prohibiting tine cx-
port of breadstu1ls. But US all the private
cables continued to quote increasing weak
ness and growing indifference among buy
ers, the dispatch was quickly voted take
and exerted but little influence. Later IN
the day it was noticed that there Was IN IN,
way OF investment and partly to cover
shorts, and prices hardened. Pardridge
covered d big line and Cudahy also took II IN
several large lots. July improved with De-
cember and the general strength was In
creased by the sharp up turn in corn the
fact that the increase in the visible supply
was larger than expected and free buying by
5. V. White, MiImine and Bormsn and
Schwartz-Dupee, supposed to be short wneat'
for the account of New York men. 1ne ship
ments from New York last week were heavy,
at
aside nom 2l loads for Antwerp, went to
British ports
Late cables quoten Paris e5930 centimes
lower on wheat, Liverpool Id lower. Berln
lower and Antwerp demorallZed. July
opened at 955sc against 915sc at the close on
Saturday, sold or to s97sc, back to N2sc, up
to 905sc and closed at 90J6c.
Corn started slow and weak on fine grow
ing weather, but when it was known that
the receipts were nearly 100 cars less than
expected, sharp demand sprang up from
the July shorts and under good buying led
by Congdon, Boyden and Harvey there was
sharp turn of fully cent from the low point,
though part of this was soon lost. BALDWIN
Farnum bought in good line on the early
depret sion, but then sold freely on the sub
seQuent decline. But the feeling continued
nervous and the cash demand becoming
and July was quickly bid &c from low point
and September advanced l3sc. This was
followed by q period of weakness, accom-
panied by considerable recession in values.
July opened at 5l15G5l51c against 5l3zc at
the last price on Saturday, advanced to 5355ssc,
sold off TO SIC and closed at that.
Oats were nervously strong, especially
for July. There appears to be a liberal short
interest in that month and the buying in
started the market. Other features followed
suit. Buckley was good buyer most of the
day and Pratt also took on n good deal.
Fluctuations in July were confined to a
range of 3214 @335sc, closing at SIC.
Provisions were firm, partly in sympathy
with the strength in grain and partly from
the light receipts of hogs and the higher
prices at the yards. Opening at $40 IL, the
final price of Saturday, september port
touched SO 0715, advanced to $40 40, reduced
to SO % and closed Mt $40 30. Lard and ribs
followed the fluctuations in pork.
The leading futures ranged as follows, as
corrected by John NJ. Oakley & Co., As Sixth
street, members of Chicago Board of Trade: