The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-15
CORN WAS The KEYNOTE.
Sold st the Lowest Price Tor May
NoathA
Disgusted Longs Threw Their Hold.
inEs Overheard and Aaacd 10 the
Eject Of Baa News.

Chicago, October 14--Corn led the grain
markets today. II sold at the lowest
| point In months and carried wheat ana
oa'ts with II. Changing from December
to May and general liquidation by dis
gusted longs resulted In decline OF in6l
l%c for December. Wheat declined aaxc
buiiish foreign news steadying the mar
ket to certain extent. Oats closed No
lower. Provisions were helped by an i'm
proved cash demand and closed s,aa7isc
| higher.
About all the strength the wheat market
showed today was confined to the first few
minutes trading. December started at
sl%dslA, with one or two sales as high
as %, as compared with yesterdays CLOS
ing price OF el%. and for about half an
hour the price held at about that figure.
Opening influences affecting wheat were
the high cables and the revised estimate
of the Hungarian minister of agriculture
regardsng the worlds wheat and rye pro-
ductfon.
Liverpool before the opening here had
advanced SsnliSd over yesterdays price,
while Paris was unchanged 10 Is confines
higher. The Hungarian figures made the
worlds wheat production for this year
2o3,0Oo01 bushels hess than last. The
worlds rye crop this year was estimated
at 100000 bushels short OF last year
The Northwestern receipts showed
rather marked falling off, The total al
Duluth and Minneapolis was ISL cars,
against 1916 week ago and S36 a year
ago. Chicago received 165 cars.
The effect of all this was offset In a
measure by the Price Current, which said
rains had so improved the outlook that
an enlarged area was assured.
Although the opening was strong, there
were quite a number of holders who were
willing to take their profits, and selling
of this sort was sufficient to start the
market In the opposite direction Very
bad reports concerning the Russian wheat
production came in while the market was
weakest. but Its effect was not noticeable.
Brooinhalfs special correspondent says
toe Caucasus provinces will not export
4S000,0c0 last year Very little ME- WAS
shown IN the market after the opening
furry. Realizing sales by longs, coupled
with the weakness in corn, made "a COM
bnation which the market could not over
come and there was steady drift down.
ward. The decline was not rapid, as the
trade was too light to- warrant much
movement. The early selling by the longs
simply supplied the more urgent of tho
shorts. after which the market was lett
largely. to dts own resources. The ex-
bushels. Primary market receipts were
10Si,0OO bushels, against 1.o3s,o00 year
ago. December gradually settled down to
9OssGl90ls and closed at e03hG9o%
Corn developed great weakness almost
from the start. An attempt was made by
the holders OF December futures to change
their property to May In doing so the
difference between the two months WIDEN
ed out to 4c per bushel. December declined
lie per hushel during the first hour Large
Quantities OF corn were thrown on the
market as the session advanced much OF
which was credited to long interests. To
add to the weakness. there was no appar-
ent short interest and at times II was
very hard to dispose of offerings. The
cash demand showed a slight improve
rnent.. Receipts sos cars; clearances $1,000
bushels.
Oats suffered with corn There was no
trade of Importance and the market was
entirely n sympathetic one. There was
some selling of oats against purchases of
corn. Receipts 296 cars. Charters were
for 265. 900 bushels.
Considering the weakness OF corn, pro-
visions showed considerable strength AT
the close December pork was 2ifc higher.
December lard 2iac and ribs 5d71ac higher.
Estimated receipts tomorrow--Wheat 30
cars. corn SIS cars, oats 1926 cars, hogs 3d.
900 head.
The leading futures ranged as follows:
,ry.l Jf.~1-l