Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-04-04
MARKETS BY WIRE.
Wheat Strong at the Opening, but Falls
Back at the Close-Good Crop Pros
pects-Corn, Oats and Provisions
Finish With Concessions

pects-Corn, Oats and Provisions
Finish With Concessions.
CHiCAGO-The weather here and the
strength of the foreign markets favored the
holders of wheat and caused the market to
open very strong with 81 O51z very generally
bid for May at the start and also large quanti-
ties on sale at that price. Longs with profit
in their holdings and shorts were sellers. There
was wonderful absorptive faculty displayed
by the market for such lines of long wheat as
were abandoned. The range for an hour was
very narrow, 81 05715 and 81 05A marking its
upper and under edges. Some items in the
news, notably cablegram from Berlin, which
reported Russian crop prospects better than
had been generally supposed here. and ship
ments of wheat from that country increasing,
created a temporary weakness which caused a
decline in the price 20 81 047s, but on reports of
a continuation of export demand and further
inquiry for cash wheat here and flour at ad-
vanced prices at Minneapolis the market stiff
fened again. and by II o'clock was back again
to 81 0o1a
The bear news principally RELATED to the
home crop prospects which, SO far as wheat
is concerned, are generally considered excel
lent. Kansas reports GS per cent increase of
acreage and the average condition never better
at the corresponding time in former years.
The closing of the foreign markets was quoted
generally higher. a cargo of Oregon wheat
sold in London at ABS, or Cd per quarter ad-
vance on yesterdays prices. Berlin was about
Sc per bushel higher. In Paris wheat was up
~ confines and -four from 15 to % centimes.
The firm tone of those dispatches held the
market until near the close, and the reports of
considerable cash business at New York,
Duluth and Chicago were likewise contributory
to maintaining the prices, but the bulls had ap-
parently bought all they required, and bear
sales depressed the price at the close to los.
Corn opened for May 1T 69,:. compared with
eSssac at the close of yesterdays session. 1t was
run up rather excitedly to 9Sasc. but very little
done at over 69c. The tendency after the first
five minutes was in q downward direction, and
gradually sold off to GS11c; there was a subse-
quent recovery to- &c. but the lowest prices of
the day were made within the last Is minutes
May selling down to CSC.
Oats were very strong early. weakening later,
but recovering toward the close. The trading
was fairly heavy and all of a scalping nature
with no prominent transactions to note
The provision market was firm at the OPEN
ing under the influence of l5c advance in the
price of hogs and the early strength in grain
PORK opered at advance of about &C. and
made a slightly higher price STILL almost i'm
medIately huctuated within 713c range for
time, then weakened and closed l21ac lower
than it opened and 10c under yesterdays rest
ing price, Ribs were stronger than pork, OPEN
Ing with jump Of l0c, but In the end closing
at a loss of SC. Lard was also firm during the
greater part of the session. but finally closed at
a loss since yesterday of 21s45c.
The leading futures ranged as Follows, as cor
rected by John VI. Oakley & Co., 45 Sixth street,
members of Chicago Board of Trade: