Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-12-21
Grain and Provision Markets.

The following is the circular issued
by the commercial department of the
Banking House of Henry Clews s.
Co. -
WHEAT.-The market has been |
active during the week, and as advices
generally have been of a more or less
bearish nature prices have declined,
and are now at almost the lowest on
record, so far, for this crop. The selling
for short account has been very pro-
nounced, even at the lowest figures.
but, on the other hand, the cheapness
of wheat has induced splendid buying,
and the decline has been very stub
bornly resisted. The buying for both
foreign and domestic account has been
very good indeed, and but for the pro-
portions it has assumed the market
would be at least Sc. lower. General
sentiment seems to favor higher prices;
but the bears have been very success
full of late, and they are losing no OPP
portunity in their endeavors to force
prices lower. 1t is an interesting strug-
gle; but owing to the large short inter
| est, which is increased at every turn,
the chances appear to be somewhat in
favor of the bulls, especially as prices
are now at such a low ebb. Statistics
have as usual been rather bearish.-
The visible continues to increase, the
total now ashore and afioat amounting
to 105, 085, coo bushels; and although
the export clearances are fairly good
they are not sufficient to offset the
daily receipts, consequently the visible
supply continues to increase. Spring
wheat receipts are still abnormally
large, but winter wheat receipts are
| 70 nd ic fn1 hot toto
of that cereal in farmers hands are
much smaller than rsual at this time
of the year. The growing cropis in a
fairly satisfactory condition. A biz
zard is reported as raging in the West,
but as the winter wheat is well pro-
tected by snow about the only damage
will be temporary interference with
receipts. Cash wheat is being well
held, as the demand for December to
cover short contracts shows. That
option is now only SIC. under May, and
as the short interest is still large, 1t is
very probable that the difference will
become even narrower. AS the Anti
option bill may be brought up in the
Senate at any moment, it has caused
some selling during the week, but We
do not believe that it will ever become
a law. Cables have been dull and
lower, chiefly on account of the large
stocks at all points and in sympathy
with our markets. English markets
are lower on the large farmers de-
liveries and the large visible supply
Autumn sown wheat is doing fairly
well, and the area planted is about the
same as last year. In France, the
usual area has also been sowI and the
condition is encouraging Russian adj
vices have been unimportant during
the week, and as 10 complaints have
been received it is safe to presume that
the situation has improved.
CORN has been active, and on the
anticipation of heavier receipts the
tone is easier. The Anti-option bill
has also caused some selling, but there
has been no marked decline. Farmers
are not marketing very freely, as they
! expect better prices, but the bears
J figure that if they can get the price
low enough the farmers will be com
PEELED to SELL Commission houses have
been fair buyers, and the selling has
been confined to the scalpers. Storms
have interfered with receipts in the
West and the movement has been
small, as the decrease of ], 341, 900 bush
els in the visible supply shows. The
market is well supported. and, as we
have said before, seems to be a pur
chase on breaks and sale on bulges
PROvISIONS.-Th bull clique in
Chicago appears to still have contro
} of the market for hog products, fol
Notwithstanding rather heavy receipts
at the opening of the week, prices were
rapidly forced upwards with but little
effort to prevent it. Later in the week
the market was not so we'll supported
aud with hog arrivals still disappoint
ing, prices sagged-the heaviness being
: augmented by the fears concerning the
Anti-option bill.