New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-26
WHEAT BULLS RAMPANT.
. WEEK OF WILD EXCITEMENT CLOSES
WITH THE FEVER STILL on.
pr-Gs AND PREDICTED FRosTs IN TIE WHEAT
,r,r currK A RELAPSE AND bring
ANOTHER BULGE n PRIcEs-A

prcs AID PREDICTED rROsTs IN TIE WHEAT
pr,r CHECK RELAPSE AND bring
ANOTHER BULGE II rRIcEs-A
REMARKABLE ADVANCE.
u,re renort. about damage TO the crops pv fo''
and storm male the bulls on the Produce TX 'h"hs'
a,,ao, again Yesterday and the supporters OF the
,,,.,, orl uessan nv went into ecstasies over
,h ad,anclnr market All options 81 wheat cIosel
o., aqi cents above Fridays closing. ana on the
curh Juiv wheat sold at the close AT vs. Inc e'
m.nt which has been advancing wrat recently
again reiterated belief in the ability OF the re-
nor,el ,rosfs and bugs 20 work together in bcauii-
mi harmony anl the close OF the week IN IN" "h'a'
mark@, left the big bulls snortlng about 81 wheat
,r this veek IT, as they Insist. the bugs are able
"a live and thrive while icices and cold storms are
heating their way through the wheat belt then 81
whea, mu1i come.
Tho arguments used by the bulls all me week we're
cold and heat storm and sunshine. bugs ana "o'"'s'
All thes. according 10 the Huils. are elements "h'h
uu nrcv.nt a wheat crop - any size and there
Tor. ought 70 advance the price Fortunately. these
factors cannot be discovered M actua. crrAinurf
In fact the best Information reports that ihH crops
M. in no great danger from the recent Hos's ana
thar the bugs nave been unable 20 make any "ad-
way This however. does not interfere with what
the oo.rators are shouting and In most spccu-
l,.tve movements actual conditions are playing a
small part In tho wheat market Yesterday There
were not only reports thai new cold wave Ia !
made the outlook dismal. but also that another
frosty storm would strike the wheat belt last night
The wheat market last week was wilder and more
active than ~ any time since i'fl when the short
age Of the European crops stimulated a hlg bull
movement The advance OF the week was about
, - cents above the lowest point reached In inc
wntcr \ significant feature OF the week was
that the advance 90 over 10 cents on top 90 a
prevous large improvements did not check domestic
4.
bullsn features appeared IN the announced restrc-
ton %. exports from Russia and Argentina. coupled
with reduced export ability OF nearly all the lead
Ing producing countries. and the evidence OF in
crea sod nccossi.s from the leading importing coun-
tries
'Hradstreei's" reports the exports OF wheat from
the United States both coasts. and Montreal. for
the week AT 275,.cu bushels. against $4,000 bush
els In the previous week $4,000 bushels IN thiri
week In May 1885, 3.l'-t"o bushels IN the same
time In 1875. and 2.gooUo bushels In the correspond
ing period III 1892
Chicago May = (SpcciaD. Wheat started to-day
as If 1t were to be- "A very weak market. The July
price got under 10 cents. drop OF ! cents from
the high point Of Thursday. Immediately after the
opening there was lot OF selling The weather
map showed plenty OF rain IN the West Inc
cables were easier. Within an hour after the open
ing there came from Washington the prediction OF
killing frosis FOR Sunday night. II made an In
stantaneous change In the market The-~ was an
advance Of about ) cents "A bushel Prices closed
al about the top. July opened from 75Is to 15i4
sold between ~. and 9a. and closed at ~. cents
At night the curb the price Was up TO @'s cents
for July.
crop reports wore as bad as ever. a great many
thought worse. The Agricultural Department al
Washington. IN summary OF the foreign crop
situation pronounced the prospect everywhere poor
except In Italy. There was some cash business
about 10000 bushels II estimated that there
would b. decrease In the Visible supply Mon
day OF. possibly 2oO OD bushels. Export cearanccs
from the scaboard made total OF about %~.1O
There was notion In the pit that Armour was "a
very large buyer.
corn opened wheat did. with downward ten
dency. Within the first half-hour II showed a loss
from Friday OF almost cents bushel IL recovered
1t all very suddenly just the instant the prediction
| OF killing frOsts In Nebraska was received July
| sold between % and g. and closed at $50 cents
| Enormous receipts started professional selling
| movement early When the frost news was re-
ccivcd there was u stampede TO get covered. The
receipts were $50 cars IN" estimate for Monday. LOO
| cars There poor cash demand, charters
| only 1000 bushels. cables were easier. sea
| board ccarances. $4,000.
In "A small way. there the same sort OF nm
experience In oats ms In corn. weak opening with
"A lo, OF selling then rush 10 cover on the frost
Monday. $50 cars Charters reported for 1000
| July sold between %.and 3o's and closed at 2s'.
cents.
Provisions dull They opened very weak on
| large hog receipts. finally rallied with the
| grain markets and closed whore they did Friday
| There 1900 hogs; the estimate for Monday
| was 1900. for week. l5J.eO The hog receipts
| last year.
ON the curb puts ON July wheat closed AT 10: calls
at So. cents Puts on July corn closed nj 'S'-
| calls, 20 cents.