Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-21
MARKETS BY WIRE.
Wheat Opens Weak, but Improves and
Closes Strong-Bearish Infiuences-A
Bulge in Corn and Oats-Provis-
ions Einish Mt an Advance.

ions Finish at an Advance.
cHIcAGO-The wheat market was quite
weak. and H0z<c lower at the opening. but &c
higher at the close and strong. AT the start
cables were easier and the bears were offering
the May option at 81 OO5s9I OOA0l OO7s in diff
ferent parts of the pit as the bell tapped for
the opening. There were numerous buyers at
those prices and when the bears perceived
they we're being outnumbered, the price shot
up instantly to 81 OIL. The course of the market
following upon the opening slump was for the
most part upward. and that in the face of con-
siderable bear talk, and many items OF news
which ordinarily would have caused the mar
ket to sell of.
The support given to prices came mainly from
the reported movement of cash wheat at out
side points. Duluth reported about 100000
bushels loading on cars. and New York con-
frmed the talRing of the ten boatloads reported
as being worked do there ne YESTERDAY. DAY 81 Louis
terday and showed 95 900 Bushels to have been
shipped. The Atlantic clearances were liberal
of wheat and -four. On the other hand, the
Minneapolis and Duluth receipts were 4O5 cars.
compared with 251 cars one year ago. Then the
failure of the Keystone Bank. of Philadelphia,
and the exports of gold were taken into ac-
count. The chief bear influence, however. was
the easier tone of the European markets.
There wasan undercurrent at the opening that
Europe would take much more wheat, and
that the crop here viii be shorter than the fig
ureS lnulCaIeu. lne price Vi IudI HunS dTOuuu
81 0l3s@1 OH during the greater part of the
day. reaching once to 81 0l34. and again of to
81 0lI. but shooting up again. reaching 81 02N
in the course of an active half hours trading
at the end.
Corn shorts were completely unnerved and
badly squeezed. May in The end advanced ex-
citedlv to 6615c and closed at G6c bid compared
with 641lc yesterday. There was an easy spot
in the market just at the opening. but it was
only momenetsry The weather was still favora-
BILE to holders, being damp and tending to lower
the grade of corn still in first hands. 1t was
ported that 10000 bushels of the corn in store
here was under orders for immediate shipment
bv rail, and the bulls evidently meant to press
their advantage. The clearances from the Attain
tic were liberal and New Orleans shipped III, 600
bushels. 1t was estimated that the receipts for
the week of contract corn would only amount
TO eight carloads. 1t was difhcult TO find corn
for sale. and accordingly prices advanced with
spasmodic jumps.
Oats were active and greatly excited at times,
closing strong near the top price of the day.
Considerable weakness was noted early. caused
by free selling of May by Patten Brothers and
Fowler. The price, which was SIC at the OPEN
ing declined to 525sc. Fowler then commenced
bidding July up. presumably to make 4 market
to sell on. The shorts took fight, forcing May
to 54c.
The provision market was easy and lower at
the opening ana ruled heavy and tending down.
ward until near the end of the session, when
the sensational jump in the prices of corn
alarmed the shorts and caused a sudden ad-
vance. Cudahy was free seller of pork and
mick & Co. sold about 900, 600 pounds of ribs.
The Anglo-American Company were buyers of
lard.
The leading futures ranged as follows. as cor
recte d by John NJ Oakley 4 Co., As Sixth street,
mem bers of Chicago Board of Trade: