The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-23
WHEAT MADE A BIC JUMP.
December 5 and Nay 5 So Cents
Higher at the Close.
DRoUTH REPORTS PRINCIPAL CAUSE.
Liverpool Also Opened Firm and
Higher and Was q Purchaser Of
May-Corn Active and Up.

Chicago, October 22.-Sensationaf ad-
vances marked today's session in wheat,
December closing cents higher and May
at a 3ss advance. The advance, which was
attended by the heaviest trading In sew
eral weeks. was caused principally by
the huge export engagements. Sensational
reports as to tho drouth condition east OF
the Mississippi cut no small figure In the
advance. Corn was also active and ad-
vanced 1G1M, caused by good shipping
demand. Oats advanced Y and provisions
closed 21a higher for lard to 171a higher for
pork.
Wheat traders were surprised at the
opening at the firmness at Liverpool, that
market showing h@%d advance when
trading opened here, Notwithstanding yes
terday's weakness. The result Of the I'M
expected strength and further immediate
advance here put prices within small
fraction of yesterdays highest figures.
December, which closed yesterday at ON,
started at s1M@s1N and advanced
perhaps the more active OF the two
futures, opened Is higher at 9o% and ad-
vanced to 81. Buying orders for May wheat
from the United Kingdom were in the
hands OF several commission houses at
the opening and their execution in the nit
caused further lessening Of the premium
at which December Is selling over May.
What are styled in the provision trade here
the quiet English houses" had a good
share OF those buying orders for May
wheat. Very early III the session New York
wired that twenty-five boat loads had been
taken for export and claims were made a
little later in The day that 1000, 900 bush
els had been sold. Strong cables were not
the only factors in the early strength. Re-
ports from the winter wheat districts cast
of the Mississippi showed decidedly
gloomy, not to say sensational, state Of
affairs on account OF the drouth. The fall
Ing off in the domestic receipts also at
tracted attention.
Chicago got la cars, against 244 a year
ago. Minneapolis and Duluth reported $50
carloads received, compared with 1912 a
week ago and 1925 the corresponding day Of
the year before. Total receipts at primary
western markets were 1.040, 900 bushels,
against 1,131. 900 a year ago.
Later in the session there was 4 brief
period Of reaction. There was some dis
appointment at the comparative weakness
IN the Paris market, the consequence be-
Ing that December, which had meanwhile
advanced to 92Ss, declined to 92h, while
May eased off from 91ss to 911s. The reac-
tior Tested only few minutes and was
succeeded by brisker demand than at any
period Of the day. Although 1t could not
be ascertained With any degree OF accuracy
whether the sales Of wheat made at New
YORK for export We're 900, 900 bushels. as
some claimed. according to the reports. but
1t was undoubted By all that the export
engagements were large and the bull stock
came in with rush. About fifteen min
utes from the end of the session the mar
ket BEGIN spinning around in an excited
whtrl that caught up December and 9iM
Tor that ontion was the closing figure. May
closed at 9S%
Corn was active and strong. Some OF the
heaviest shorts were conspicuous buyers.
me shipping inquiry was again good,
which was one reason for shorts being
anxious to cover and the extraordinary
strength of wheat did the rest Clearances
were $4,000 bushels. Receipts $40 cars,
cables We're B@% higher. December
ranged ranged from 263i N26B to 25%, clos
1h.
| oats were firm and higher. The advance
was in sympathy with wheat and corn and
on better English buying. Light offerings
also had good deal to do with hs,p,ny
the price. The export demand was good,
ABOUT 100000 bushels heing nold here for
'hat purpose. Receipts were 215 cars. De-
cember ranged from 1s% 11s7s to 1874 and
closed X higher at 1S&d1SN
In provisions reports that frost had &C.
CURED In the yellow fever districts helped
10 make strong market Strength OF
wheat was. OF course, feature. RI GENTS
were very light and prices ruled higher
IRON the start. At the close December
pork was IN higher at 500; Decent r
lard 2hsdS higher. at 4.42h94. IS. and
december ribs 7A higher, at 4.65.
Estimated receipts Saturday-Wheat $50:
corn 90; oats 235 cars; hogs $4,000 head.
The leading futures ranged n, fo,inwa.
| Articles IOpen-TH oh : -. ~