The herald., 1897-12-02
CHICAGO MARKETS
Yesterdays Transactions on the Board
of Trade

CHICAGO, Dec. 1.-The misunderstand-
ing OF an order to buy December wheat
came near demoralizing the market at the
opening commission firms order to
their broker to buy 25,000 bushels December
wheat was misunderstood, and the wheat
ws instead offered for sale. resulting In
some other small lots coming on the mar
ket and an almost immediate decline to
94c as against 95a4c at the close yesterday.
The mistake was soon discovered, and the
buying of not more than 5000 bushels put
the price up again to 96alc in quicker time
than it took to go down. May started un-
changed at 91Hc, but the decentralization
in December caused temporary depres-
sion in May to 90Mc. 1t quickly recovered,
however, and in the course of the fore
noon reached 913sc.
The cold weather continued throughout
the winter wheat region, and the fields
were still uncovered. The st. Louis crop
experts evidently thought the trials that
the plant were being subjected to were
more than it could live through, as several
orders came from there to buy July wheat.
That future, In consequence, was relative
ly stronger than May. Minneapolis and
Duluth once more this week showed some
falling off in receipts compared with the
previous weeks, but were still discourage
ingly heavy, as against those of last year.
Atlantic port clearances were equal to
$4,000 bushels in wheat and flour, and the
western primary receipts We're 1000 900
bushels, compared with only 504, 900 bushels
last year. Zero weather prevailed in the
region around Duluth. so that it was con-
sidered very questionable whether any
more shipments would be made from there
by lake this season. This was delivery
day, but Notwithstanding this fact, there
was hardly any wheat turned over and
1t Is the belief that little will be until navi-
cation closes. Liverpool opened sd. higher
but 1t closed strong, 5sd.@1d. higher for
March, this trading month being the strong
est. Notwithstanding the rather encour-
aging situation, the trade was SO light
and the active local traders so reluctant
to retire with any unfinished business on
their hands. that In their efforts to dispose
of long wheat they had accumulated dur
ing the forenoon's rise. the market slipped
from under them, and the price of May
went down from 915s to 9O3s about fifteen
minutes from the close. New York re-
ported but ten loads for export. The lack
of export demand started the unloading,
which was rendered difficult by the almost
utter lack of buyers, and prices slipped
down very easily. May closed at 902s Gl9Olbc.
December behaved better after this morn
ing's gymnastics, and closed at 9GAc, an
advance of 1ac.
Corn was firm and very little affected
by either the early strength or closing
weakness of wheat.
Up to short time before the close the
market for oats was firm. active and high
er. December especially showing strength.
The market for provisions was for a
time smothered under the enormous re-
ceipts of hogs today. This feature, coupled
with rather free deliveries of pork and lard
on December contracts, caused lower prices
early
The leading futures closed as follows:
Wheat No. p
-1SNeAiiDoA ''''''....s'.s........... 1904
May .9O3s 1901
Corn No. p
december ........................25h
May .......................... aGl29L
Oats No. p
Decemper OBSERVATION-DISCLOSURES.
way
Cash quotations were as follows:
Flour. barely steady; No. spring wheat,
9Od90A; No. spring wheat, SSa9l: No. 2
red. 96AQ96A; No. 2 corn, 26; No. 2 oats,
21Aa; No. white, f. o. b., 231s: No. white,
t. o. b., 231AG24; No. rye, 45a4 No. barley,
+. o. b., 26@n; No. 1 faxseed. 1.O41a; prime
timothy seed, 2.65 mess pork, per bbl.,
7.15@720; lard, per 100 lbs. 4.2OG4. .221a; short
ribs. sides. loose. 4.10046O: dry salted shoul-
ders. boxed. 1905; short clear sides, boxed,
4.45@455; whisky, distillers' finished goods.