The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-22
WHEAT WAS FORCED DOWN
Liquidation the PrincipaI Cause Of
the Decline.
CORN AND OATS FOLLOWED II
wheat Opened strong and Remained
Firm During the OpenfnE-hains
improved Winter Grades.

ch.cogo October H.--Wheat today kept
80, ,ts pttle game of seesaw which 1t has
been indulging in all week. and the De-
cember option closed at asd'sc decline. ~
was NC above yesterdays final prices TOT
a. time. but liquidation and the weakness
which developed in October draggeu the
market down. Corn followed wheat ana
closed Nc lower Oats did likewise. Fro
visions wore independently strong anu
clos e,! about TIC higher all around
Wheat maintained the firmness OF tone
nj the opening that characterized 1t yes
terday. 1t added A6pisc per bushel to the
nreyious days closing price as soon as
trading commenced, and during the Two
following hours 1t refused TO sell substan-
TALLY lower, Notwithstanding good zeal
of profit taking by the smaller class OF
longs. Principal holders apparently did
not think 92 to be the limit OF the present
adysnce and took but little part IN the
selling
Conditions were generally more FAVOR
able TO holders Gables were all STRONG
and higher Liverpool showed an advance
eoua, to lAc per bushel and Paris was
about sc per bushel higher. The Nebras-
ka State crop report said the winter wheat
area would be REDUCED one-third by the
drouth. The only fly in the ointment was
the statement Of the Price Current That
the recent rains had materially improved
the winter wheat prospects. NOT much
attention was paid to this, however. De,
ctmber opened at 9ls4M92, as cotnpaiIeNu "
with yesterdays. closing prrce on M.s9
slSs 1t sold to 9l5sNt9lS4 then turneu' ana
by ii O'Clock advanced to 92h.
Chicago received 1874 cars, against 80 es-
timated and only IL were cortract. Min
neaIolis and Duluth reported Si5 cars,
against SIS last Thursday and 1880 the cor
responding day of the previous year. At
lantic port clearances were olo,coo bushels
for the last week.
TIE demand here from local millers for
low grades of spring wheat caused lc per
bushel advance in the price OF No. 8
spring. One lot of 5000 bushels NO .
broke badly during the afternoon. Octo-
Der became very weak on selling by ele-
vator people, and the interest in Deoem-
Der died out. the crowd doing most of Its
the morning sold out and the result Was
decline in December to 9lM911s. There
was practically no rally, December closing
at 9lQSl1s asked.
Corn was firm early partly with wheat
and partly on covering by shorts, but
mostly on the greatly improved demand.
there being an outnspection of 5os.0O
bushels. Trading was only moderate, but
prices were well maintained until wheat
turned downward, when corn showed Its
sympathy with the movement. Offerings
became quite free at the decEne and con-
tinred Ito the close. Receipts 626 cars.
Cables were haied higher. December
ranged from 26h,u264 10 257sQ259. and
closed i4c lower at 25A.
There was a very quiet session in oats.
The market followed corn, being steady
at slight advance during the morning,
but moving off later Seaboard cleaiallces
$4,000 bushels; receipts 24S cars. Decem-
Der ranged from 1slA 10 Is, CLOSING nc
lower at 1SG1SH.
provisions We're firm and higher, closing
near the top of the day In spite of grain
weakness. Reports about yellow lever
mad something to do with the strength,
but the cash demand was said 20 be -ex.
cellent from, all points outside the fever
dstr.cts IN uhe south. A feature was tie
buying OF lard and ribs by Armour At
the close December pork was 7lac higher
al i-S,ls' December lard Tee higher at 4i0
and December RIBS NC higher at ATTY.
Estimated receipts tomorrow-Whent $50
cars. corn 500 cars, oats 300 cars, hogs 49,
00O head.
The leading futures ranged as follows: