New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-27
DECEMBER WHEAT TOUCHES 81.
SHARP BULGE CAUSED BY ANXIOUS SHORTS
AT CHICAGO

SHARP BULGE CAUSED BY ANXIOUS SHORTS
AT CHICAGO.
Chicago Nov 26.-Wheat sold at 81 to-day for
the December option and closed at 99ie cents, an
advance of 3% cents. May showed considerable
amount Of sympathy with the advance In Decem-
Der and closed lAGlS cents higher. Efforts OF
shorts both here and from st. Louis. caused the
advance In December and they were not supplied
until 81 had been bid. Other markets were unin-
terestirg Corn and oats advanced xqk cent,
and provisions closed 21a cents higher.
Wheat started firm at from sl1s cents TO % cents
for May and Sis cents to 96i. cents for December.
compared with 9l&Q9lA cents and 96s cents re-
spectively at the close Of the session. The add'-
tional strength came from an advance at Liver
pool of I'D 10 begin with. added to the effect
Of a cold wave prediction from the Signal Service
Bureau. There plenty Of bearish news in cir
culation and for nearly an hour there was moder-
ate selling with the tendency OF prices slightly
downward for May. December however. holding
firmly. THE Cincinnati Price Current" estimated
that after December there would stu be w.
10000 bushels available exportable surplus IN TINS
country. The Kansas crop report said that the IN
crease in the OF mat State amounted 20 l6
per cent. The -Buenos Ayres correspondent OF
would have 10000 bushels of wheat to dispose Q,
for export Receipts at Minneapolis and Duluth
aFainst s foT simsr Two da{S The So p5s si
yGss week ib aTs - bnshs ASoa
minutes after the opening December began to nd-
slowly at first. but Very soon gamer Iie Hii
petus It ross from 9sk cents TO gu. cents without
causing May TO go above the price 1t opened az,
but when the December made spasmodlc ]uih ny
that took II TO 9Sl. cents and another series OF
leaps that landed It at 81. May responded IN Pre-
testing kind OF manner by rise TO sSs s. Louis
shorts were said 10 he active bidders az the com
mencement of the bulge and host OF the sinaIies.
traders Joined in the chorus Ihere was nar hn
reached 81. when the anxious ones were luIIisne
with so much that sudden drop 70 WIS cents re,
suited But the shorts were too badly denlorahI,
p2,ce soon Shot up again Tn. Atlantic port clear.
ances OF wheat and flour were eqnaI 70 aSoJ'
XIX OA0 bushels Including 400 bushels from Gar
weston NewYork reported twenty I'VE oa,nr
reacting little from its first bulge 70 VS. sen.S
hecame stronger than before. and reacheu sSl2
cents before II closed. 1t wourd up AT &s Gers
december got up TO 99ia cents and closed ~ 'haI
There was a sharp upward turn yesterday IN De
cember wheat-that IS, wheat OF the contract sidue
deliverable in December On the New-fork ProH-
nee Exchange the price got up TO 81 ets' at wh'ch
seure II closed This represented gain OF l..
cents from Wednesdays closing quotation Dc
cember wheat on the Chicago Board OF TRADE
touched ST. and closed at 1914 cents. which was a
gain OF ga cents from Wedr isday. The bulge
was due 10 O squeeze In the chicago market, INC
advance in New-York was by sympathy, and was
not quite equal 10 tho rise in Chicago. To adjust
the price between the two markets. there must be
an advance here or a decline In Chicago: In New
ss cents which was a gain Of lSs cents from
Wednesday. In Chicago May wheat touched s3,t
cents and closed at 1914 cents, gain or IN cents
In New-York December corn closed at g cents
and MAY corn at IS cents. a gain In each instance
Of * cent. Export sales were forty loads OF corn
and eighty-hve loads OF wheat