The San Francisco call., 1897-08-28
CHICAGO GRAIN MARKET.

CHICAGO, Aug. 27.-Wheat furnished another
sensation to-day. This time it was the bulls who
suffered, September dosing 57sc lower and De-
cember at decline of 3Tsc, af.er session remark
bic for small trading and extremely violent huc-
tuatons
All the enthusiasm had apparently leaked out of
holders of wheat at the opening Liverpool fur
nished disagreeable surprise TO them, starting
212@21 Esd lower. mis- was entirely unlocked tor
after yesterdays &c advance here, and it fairly
took the bulls breath away There practi-
caly no demand for December wheat at the open
ing. The consequence that it started at 9034
@q0c or S3s03Zsc below yesterdays close and
d opped almost Instantly TO $3.50 perfect
flood OF wheat poured on the market for few
minutes. ircluding many stop-oss orders. During
that time there was almost tot al lack or buying
ders bnt they made their appearance at 81 SAC,
and five minutes after Decem ber had rallied TO
september wheat WIS hardly heard of for the
first few minutes in the excitement that acc ON
panied the unloading of December. I ful Y
as eak the immei eiiate opening, however,
staring all the way from g. 12 10 g. or drop of
exactly II 1a from the highest point reached yes
terday. The tement subSided almost
altogether, and fuc. uations from the extreme
narrowness OF trading We're frequent and viol eat,
send the price up or down 12c or more. That some
my-ter Gus bear influence at work the
market befor the opening The general
opinion. II was stated later on what was con-
sidered reliable auth rity that a combination in
Guiding Charles Couse man and john Cudahy, ha
ben formed to break the alleged bull loo and
that h" great eccentrici' y of to-days market
due to the man pu atoms OF the new combine.
Chica. eipts 90 cars, of which only
IA were contract. The quantity taken from
was l47, 900 bushels. Atlantic port cearanceS
again confir med the fenuineness of the European
demand for American whe u and -four The
equivalent Of $4,000 bushels was exported from
the principal ports in the asst twenty four hours.
The market steadied somewhat by the mid
day strength of corn but became radically weak
again on reports that foreigners reselling at
the seabOard. December rose to 914ac,. but de-
cined on that to SS12c. 1t bad recovered 10 80
The close. Septt mb Der sold as high as SO, but
closed at 95.
Corn badly demoralized at the opening on
account OF the break in wheat, more favorable
weather aud heavy receipts 1642 The open
ing weakness followed ty period of con-
siderable strength with good country and foreign
buying helpsd BY d Ionght damage claims. The
market yielded later. however. on heavy liquida-
tion started BY the late dec inc In whea and
quite weak at the close. A heavy business
transacted.
A fairly good business done in oats The
opening weak with every thing else, elevator
selling being conspicuous and quite sharp de-
cline resulted Part OF this subsequently
covered but the market averaged weak.
The opening break in prices OF wheat and corn
caused provisions to start weak, notwithstanding
small receipts of hogs and a considerable rise in
their price at the yards. The su bsequent rise in
corn put the market climb bing again, but the de
cline In that cereal later prod uced selling pres
that lest the products all and something more
than they had gained.
The reading futures ranged as follows: