The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-04-17
CHICAGO MARKETS.

CHICAGO. ILL, April 16-After an early ad-
vance on short covering to-day wheat weakened on
the liberal shipments Of the competing countries
and closed unchanged for May. May corn closed
lac lower and provisions at slight declines.
The news received by cable this morning was so
decidedly bearish that previous to the opening OF
the session decline in wheat for the day seemed
inevitable. That was the impression on the curb
previous to the start, 5614c being the quoted value
then for May, compared with 5613c as the market
was coming a close yesterday.
When trading was commenced upstairs so much
found to be wanted at 5614c and even at 563isc
that very no one would sell at any such
prices. The result was that instead of expected
break advance commenced which carried the
May price up to 5712c, and it had no other appar-
ent foundation than panic among the Nav shorts.
st. Louis shorts, 1t is said, covered 100000
bushels, more Of May wheat in the first hour OF
the session and the local contingent were not far
behind in the struggle with ST. Louis for share OF
the limited offerings.
The Liverpool cables quoted wheat 15d higher
than that market closed on Thursday last and such
an advance was considered very inadequate APP
probation of the bulishness here. In addition TO
that, the Russian shipments OF wheat for The week
were 2,0S0,000 bushels and the Argentine ship
ments 100000 bushels for the same time. The
weather for the coming crop on this continent was
most favorable, and it was in the face OF such
combination OF bearishneSs that the advance
already noted occurred. The Offset was the cou-
paratively small domestic receipts and the gradual
reduction of the elevator stocks.
Bradstreet's usual statement of the weekly
changes of stocks in this and other countries
showed that Notwithstanding "a decrease in the
United States and Canada of 1887 600 bushels the
increase OF stocks afoat for Europe reduced the
amount of the worlds decrease for the week to
1907 900 bushels. The amount on passage for the
United Kingdom and Continent Increased l. $50 900
bushels since week ago. Minneapolis and Duluth
receipts 172 cars compared with 1855 cars
year ago. The export clearances from Atlantic
ports amounted in wheat and -four together TO a
little over 100000 bushels. The closing cables re-
ported advances of 1886 per bushel at Paris and
from 81 TO 11sc at Berlin. The market here ruled
weak and lost in the end what gained earlier
the market closing with sellers at 561ac for May.
Corn was active in spots at wide Intervals but
was weak the greater part Of the time.
May opened at 4534c, sold at 455sc, then ad-
vanced 10 1870, selling down later to 451@c and
closing at 451ta0455sc. Receipts were 1874 cars and
125 are estimated for tomorrow. In addition to
the rail receipts, 20,l00 Bushels came in by
steamer The primary receipts were 1874 600
bushels, compared with 305,000 bushels a year
ago.
Oats attracted but little attention. The trading
consisted almost entirely Of small scalping and
local covering. Fluctuations were confined to a
narrow range and an easy feeling influenced
by the weakness in wheat. May sold from 2S1lad1
1884 c and closed al 2812c. July ranged from
2714027 12c closing at the low price at which re
ceipIs were given.
Pork advanced loo per barrel, but there an
evident desire TO sell at the advance, and when
wheat broke provisions followed suit and left pork
in the end at a decline for the day of 10c per
barrel Lard and ribs pursued similar course,
being firm early but closing weak, with respective
losses of 71,2c and sc per 100 pounds.