The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-10-15

CHICAGo-Corn led the grain mar
kets to-day. 1t sold at the lowest point
in points and carried wheat and oats
with It. Changing from December ia
May and general liquidation by disgust
ed longs resulted in O decline Of lAG1Ssc
for December wheat declined %9Nc,
bulllsh foreign news steadylug the mar
ket to certain extent. Oats closed &c
lower, Provisions were helped by an I'M
proved cash demand and closed 2hq5c
higher. About all the strength the wheat
market showed to-day was confined to
the first few minutes trading. Decem-
Der started at H%Q9l%c, with one or
two sales as high as 92c, as compared
| with yesterdays closing prices OF 9l&c.
and for about half an hour the price held
| at about that figure. Opening infiu-
/ ences affecting wheat were the higher
cables and the revised estimate by the
Hungarian minister of agriculture re-
| garding the worlds wheat and rye pro-
ductlon. Liverpool before the opening
here had advanced MQlxd over yester-
days prices, while Paris was unchanged
| to 10 centimes higher. The Hungarian
| figures made the worlds wheat produc-
ton for this year 203, 900 900 bushels less
than last. The worlds rye crop this
year was estimated at 100000 900 bushels
short of last year. The northwestern re-
ceipts showed u rather marked falling
off. The total at Duluth and Minnea-
polls was ISL cars against 1,046 week
ago and 1897 year ago
Chicago receipts were also very light,
165 cars. The effect of all this was offset
In measure by the Cincinnati price cur
rent, which said that rains had 80 i'm
proved the outlook that an enlarged area
was practically assured although thu
opening was strong there were quite q
number of holders who were willing to
take their profits and selling OF this sort
was sufficient TO start the market in the
opposite direction.
Very bad reports concerning the Rus
sian wheat production came In while the
market was weakest, but It's effect was
not noticeable. Broomhall's special
correspondent said the Caucas province
would not import over $4,000. 900 bushels
OF wheat against 100000 bushels last
year. Very little life was shown after
the opening furry. Realizing sales by
longs coupled with the weakness IN corn
made combination which the market
could not overcome and there was
steady drift downward. The decline was
not rapid, as the trade was
too light to warrant much movement.
The early selling by the longs simply
supplied the more urgent of the shorts
after which the market was left largely
to its own resources The exports for
the day were equal to $4,000 bushels.
Primary market receipts were 1881 900
htdhaIu Unlnpf In ri
cember gradually settled down to 90%0
9Olsc, and closed at 9Ohd9OSc bid.
Corn developed great weakness almost
from the start. An attempt was made
by the holders OF the December future
to change their property to May. In do
ing SO the difference between the two
months wldened out TO 10 per bushel.
December declined 1c per bushel during
the first hour. Large quantities OF corn
were thrown on the market as the session
advanced, much of which was credited
to New York longs. TO add to the weak
ness there was apparently no short
interest and at times It was
very hard to dispose or Cash demand
showed a slight Improvement. Receipts
were 599 cars; clearances were small.
$4,000 bushels, The price Current" said
offerings OF new corn will be early. De-
cember ranged from 20 to 26Mn26&c,
closing lhnl%c lower at 26&c bid.
oats suffered with corn. There was no
trade OF Importance and the market was
entirely n sympathetic one. There was
some selling Of oats against purchases
OF corn. Receipts were light. 296 cars
charters were for 265.OOO bushels. De-
cember ranged from 1870 TO 1SAc, clos
Ing &c lower at tS3sc bid.
Considering the weakness OF corn, pro-
visions showed considerable strength. |
The market started stronger with some
outside support and on the better cash |
demand There was period Of weak
ness due TO the decline IN grain, then |
quiet but steady buying by shorts start
ed prices upward again and kept the |
market firm for the remainder Of tho seq
sion. Al the close December pork was
2Ac higher at 81 70; December lard 2ISc |
higher ut 81 27i6 md December ribs 5Gf |
TIC higher at 81 52is@i 55.
Estimated receipts Friday:
Wheat 2lO cars corn S25 cars: oats 1926 |
cars hogs $4,000 head
The leading futures ranged ms follows.