The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-07-20
Chicago Grain and Produce.

Chicago. July 19.-The Liverpool QUO
tations which had been the main source
of strength to the wheat market. were
reported 115d lower this morning. and
I chicago had 5S carloads of wheat in
spected into store since Saturday morn
/ ing. % of them from this years crop.
These were the reasons for the weak
ness which had an opening decline OF
! from 4 to 12c indicated. Total receipts
al the five principal winter wheat mar
kets amounted to 374. 974. of which 244,-
OOO bushels was reported from Kansas
City. Last year. on the corresponding
day. the receipts at the same five cities
were 4OO,619 bushels so that the defici-
ency between the present and previous
season is not now very striking That
feature of the movement should change
rapidly from now on. 1t is with that
expectation that some bearish feeling
developed among leading spectators.
which would quickly become very ag-
sressive with little encouragement in
the way of weakness abroad. The Wis
ible supply. which was expected to
show about 100000 bushels reduction.
decreased 1,2s5,00O bushels, leaving the
total at 15234.000 bushels compared
with 46. 600 bushels last year.
The amount ahoat for Europe is
100000 bushels smaller than it was a
week ago. Beerbohms reported a re-
duction for the week in European
stocks of 2,016. 900, Indicating about
5,OO0,0 600 bushels as the total reduction
in the worlds stock The exports of
wheat and flour from Atlantic ports
since Saturday were equal to 100000
bushels
The decrease in the visible exceeded
expectations, and some spring wheat
\ he1-e - 70
caused a change in speculative senti-
ment. The tendency has been down
ward during the greater part of the
forenoon. and short sellers sold conf
IDENTIFY on every rally until the matters
last referred TO brought support to the
bull side of strong enough character
to turn the bulk of the local crowd
from the bear side.
Most of the buying on weak spots,
and enough of it to absorb the floating
scalping supply. and the turning senti-
ment from selling to buying. Septem-
Der, which got down TO 6Sk in about
an hour from the start. recovered TO
70A, dropped again to 693s. and once
more started upward. reaching 70A.
Cablegrams from Paris quoting that
market excited from speculation and
poor threshing returns, had some effect
in helping the advance in the latter
L
where it is most plentifully produced, is
not ripe yet.
The price here became still stronger
toward the end. September wheat
opened 14@1ac lower. at 6914 G691a, sold
from 6914 TO 693s, back to 691s, then up
TO 711l closing with sellers at 711s.
Corn was moderately active and in
elined to follow the direction natural
to good reports concerning the progress
of the crop, and the increasing receipts.
The afternoon firmness in wheat was
the reason for a recovery of about Y
and earlier a half cent decline.
The market fer oats was moderately
active and steady. Only $4,000 head Of
hogs today. instead of $4,000. as esti-
mated. started provisions strong. and
the firmness at the beginning was
fairly well maintained in the face of
some quite general selling of small lots
by the packers
The leading futures ranged as follows: