The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-12-10
UPWARD WHIRL IN WHEAT.
The Price Higher Than at Any Time
10 Six Years.
GRAIN AND PROVISIONS AFFECTED.
Much wheat Sold at the Highest
Figure Reached-Review OF the
Days Transactions.


Chicago December o.--Not since August,
1891. has any months delivery OF wheat
sold as high as December today 1t rose
from 1olie ut the opening tic Loo, but 81
the most irregular fashion, 1t had many
a backward slide, but It rested at 1,G7. or
the not inconsiderable improvement OF ~
for the day. january vas a good sec
ond. winding UP with a gain Of cents
May was less ieucnstratve IN its bulish-
ness Its advance was rs cents. Other
grain and provision markets were more or
less influenced by tho advance IN wheat,
corn and oats closing 3-s higher and pro-
| visions 5nlO higher. Shorts were evident
~ alarmed by the announcement that the
| bull clique had made arrange ments to ship
by rail all the wheat delivered them on
| December contracts, and had ahso made
advantageous storage contracts in the
| East. The consequence was there was a
host of buying orders for December at the
opening, mostly of Moderate lots, It Is
| true but they had the same effect on the
already strained market as IL they were
| for millions. There was no wheat for
| ~ "a,
but today bids ranged at the opening all
the way from 1.0ila to lO and even at
the top there was scarcely a bushel to
he had. This precipttated perfect scram
| ole among the shorts, not In December
! alone. but in january and May also Be-
| fore wheat came out los was offered for
| Dccen Der. Then came lull which lasted
| for an hour. Brokers operating for tho
bull clique attempted to stem the tide,
| but probably from 10000 to 10000 bushels
| were taken before a reaction Occurred.
mber declined to l.03lb. but by 1l:6
| had again RISEN TO los. Then came the
storm Within five ninutes amid a
| "hlrl of excitement. December was bid up
TO los. 1t reacted with a Jerk TO 1O6ls
then I'M again without a stop to 100. the
| hlehcgt point bid for wheat in this market
fof six years. Probably as much wheat
was sold on this advance as earlier. After
that the market was queter January
| shorts In tho meantime had not been idle
That month opened strong at 80 to "a, and
1t sold as high as N during the excite
ment, an advance of so cents above YES.
| tcnay. The figures that influenced con.
| tf"lanH December also applied to January
ana shorts got under cover as quickly as
they could May was also very strong,
Though 1t did not have uhe same panlcl<y
appearance Of the other options. 1t opened
at 9lii as compared with yesterdays clos
ing price OF 90,2@Qo 5-S and had advanced
| by noon to 20 5-Sa92% II the market
| at the opening had been left as usual to
take its imprint from those things tina,
usually affect 1t, decline would IN att
| probability have occurred Minneapolis
and Duluth received Sla cars comparcd
with 75S last week and 67S the week be-
fore. Chicago got i2sO00 bushels by lake,
besides aiS cHrs by rail. AS e was, yes
tordavs figures indicated that receipts in
the Northwest would from now on show
steady falling Off. This. however. WAS a
disappointment. The wild antics of the
December opening caused Northwest re-
cents To be entirely oVerlc olQed Tho
quantity inspected ont from here was 40
700 bushels. Liverpool opened firm at an
ADVANCE OF 6-Sd and closed "A shade higher
although they must have known ,herls be-
fore the ond of their session Of the carly
strength of the market here. Continental
markets were very l!ttle changed The
exports from Atlantic ports were quite
up to their recent liberal average. the
total being equal In wheat and flour 10
oSa'on bushels, including 6i.ooo bushels or
wheat from Galveston Reports OF ra,ns |
inlerit ring with tho harvesting of whe,t |
VI Argentine and THAT the cxportable sur.
pt"s would be reduced In consequence. |
was ono OF the items of the DAYS naws |
Ike good many more received. had |
very httle attention paid TO il. pecem. |
"a hal
regularly between loSle and I.o7. closing
near mat "rlce. After May had reacted |
to ~ S-Sa'Sls it closed at 9s,s. while lam |
aarN wound up at "a
Corn was dun but firm, the range belns |
'20e-S The tone was due largely TO an. |
Nahce IN wheat and better demand FOR
i'e0e'nber' which sc,d wiahin 3 lis of Nav
ne market did not advance much durtnr
the mornsnS. but later IN the d1v tna
persistent strength Of wheat drove shorts
10 cover and the mareet ruled strong 10,
the resi- of the session. Receipts. s73 cars.
oloarancos 10000 bushels.
oats like corn. I'D not respond mucb a.,
flrst TO the jump In wheat, hui when n
AID start the market became quite NO.
i've ana stroGig. There was some reanz.
ing at THE ton Receipts. 800 cars,
NO. much interest was manifested IN
PROVISIONS, Tho market IN a general u,,
exhibited moro strength ana closing prInes
were higher AT the close January nork
was higher hard IN and ribs 5 niaher
estimated receipts F'riday--Wheat. sl5oo
bus bells corn. As and oats. SEQ ears. Hogs
sS.0oo head.
.ne lsaaing futures ranged as fo.lowa.
Articles 1Open TTlsT5- r.. -
Wheat, No . - ,'--'----' '------Ss'
December . lM na NJ
January .. 81 az i'n"si,ri i,o,
Man uiit oNt.i ~ Wig