The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-12-03
BEARS CONTROLLED WHEAT
Bullish Statistical Developments
HAD Little Effect.
LIVERPOOL OPENED AT a DECLINE.
Conflicting Reports ms to the Crop
m observation-disclosures Ynrds
FiiIing up-Corn Active.
LIVERPOOL OPENED AT a DECLINE,

Chicago, December 2.--The local talent
In the wheat pit spread Itself today and
being against the market, prices broke.
There was a strongly marked undercur-
rent of bearish feeling in the crowd. and
although at some times the days statis-
teal developments were OF more buli.sh
character than have been recently forth
coming. they have had little effect in
turning sentiment from its bearish predi-
lections, and the market closed at a loss
Of isc per busfiel in May and 1Ac in De-
cember. Corn and oats were also weak,
closing l1@Ac lower respectively. Prov.s
ions were very dull and closed substan-
TALLY unchanged.
Wheat had weak opening. principally
because Liverpool fully reelected the de-
cline of uhe day before at Chicago. 1t
opened at from SIS to I'd decline. Paris
at the same time was reported somewhat
higher for the day. Northwestern receipts
We're still TOO heavy to encourage buying.
The most important consideration for the
time, however, was the hostile attitude
the market assumed by some of the heav-
TEST Of the local scalpers. That was i'm
portant. because of the total absence of
orders from the outside. The opening
price for May was sci4lf9o 3-S, decline of
sc from yesterday, and 1t declined to 90c
before 1t showed any signs of improve
ment. December was much weaker
opening u lower. at 96is. and declining to
IS IS, with hardly sign of support
Chicago receipts were 219 cars. against
$40 the corresponding day of the previous
year. The outward inspection was $3.50
bushels. Primary market receipts were
for the first part of the day substantially
below the 100000 blishel mark, the guam
tity for the day being $4,000 bushels; but
for last year the total was only 42o,OoO
bushels
A cablegram from Argentine WAS report
ed as saying that crop prospects were less
favorable, but another was received stat
ing that THE harvest In the more North
ern section of the country was progressing
favorably.
A temporary squirt was caused by the
heaviness of the Atlantic port c.earances.
of which -four was a prominent factor,
and the much smaller total I'm the West
ern primary market receipts than the re-
cent average. May advanced on tnis to
80 5-8. bait local bears soon Lisposed OF
they could swamp the people, and they
were going TO.
A report from Minneapolis, TO the er-
feet that the yards there We're ll;ng up
with cars, which world he loaded with
wheat for Chicago. caused great weak
ness late in the day, May selling as low
as S9iS. New York's report of present
loads for exports and some help fror the
December buMe caused raaotton 10 50
near the close, May winding up at 50 rs
@90. December, however, got no support,
and closed IA lower. at IS.
Corn was moro active and very weak,
clsing at u decline. Clearances sos 900
bushels. Receipts. 1853 cars.
Oats were weaker and closed almost at
the bottom with Nc loss. There was q
fair trade. Receipts, ;.SS cars Seaboard
clelrsnces, $685. 900 bush sls
Provisions were dull and did no. move
over sc in either direction from yester-
days closiag.
1sJ cars: CORN. 2i0 cars; oats. go cars
hogs, $1,000 head.
Tic leading futures ranged an follows.