The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-11-11
WHEAT ADVANCED 2 CENTS
Frost 10 Argentina and Big Exports
the Cause OF It
UNEXPECTED JUMP At LIVERPOOL
Elorts 10 Discount the Frost News
Were unsuccs ssfuI--cOrn and
Oats Were Higher.

Chfaxo. November i0.--Every trace OF
the weakness which has prevailed In the
wheat market iatcly disappeared today.
stroag cables and reports of serious dam
age by frost IN Argentine caused a very
substantial opening advance. which was
added 10 later by the large export engage
,ntr,ts, May cloeing at &c advance. Corn
was firm and ssnts higher Oats adj
vanced u. but provisions dragged and
closed at small declines.
Wheat started with n bulge OF 1Ss1lE
for May, opening trades in that option
ranging from 9o,sm9o7s. and somewhat
excited demand existed al those hgures.
The cause was the wholly unexpected
lump at Liverpool, witch advanced from
~ 10 Oh per busiel This, II was soon
explained was due 10 a Buenos Ayres DIS
patch to the London Times stating that
the wheat ard fax crop of Argentine mad
been severely Injured by frost. Great et-
forts were made to discredit the frost
news, but 1t was too well substantiated 70
be dssbeiieved. The only possible nnccr-
tairTty connected with the matter was as TO
tho extent of the damage and It gave a
scare to short sellers The opening Az
vance OF course, attracted seiiMg ORDERS
from people who considered the rise TOO
sharp AID sudden TO be maintained. Such
selling kept the price from getting Algher
than IL opened for about an hour. nut All
the efforts OF the heavier shorts VINO re-
fused 10 buy on the bulge could DO ifOtn-
ing TO help to depress II except IN inc Wy
OF ta.iting 1t down, could not accomplish
more than X reaction from the highest
point of the opening range. The market
sold down very gradually 10 soA. tnen
back and forward between that prsce ana
gOs. bnt by noon was selling around 81.
IN ,..aar 10 tha 2 n.
chiefly in connection wlh domestic re-
ceipis. Chicago had i0i cars Inspected
into store. against 10 a year ago. Nj lne-
apolis and Dulurl 1880 cars. against ilS
the corresponding day of last year The
acceptances from abroad OF wheat offered
by cable yesterday ord the day before
resulted in the largest sales effected dur
ing any similar previous limit this season.
Before the day was done It was reported
that i25 boatloads, 100000 bushels, had
been sold for expert The market ruled
strong near tho close, May closing at 90S
d9i.
Corn was very firm. particularly for Dc
cember, but trade at no tune was very az
tive. The market was helped principally
10y the uptur'n in wheat. Cables were up
ihH1d. Receipts 239 cars The close was
strong at substantially top prce
oats were uiAisnally active for the open
ing. being quite strong. following wheat
and corn and cool buying by c,mmiss!5n
houses, which advanced prices ~ The
advance was somewhat curtailed hy per
sistent selling on the bulge. Cash bust
ness continued urgent. Receipts 2i7 cars.
Provisions were disappointment.
scarcely maintaining themselves in spite
of the wheat strength and the practical
ending of tho yellow fever scnre. At lhe
close January pork was 2i5a5 lower; Jan
nary sides a shade lower and January ribs
Is ,ower.
Estimated receipts tomorrow Wheat.
HI corn, 435; oats, 800 cars; hogs. $500
head.
Nae leading futures ranged as follows