The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-12-04
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1850 - " NNfH+N fffffff - -
BrsadisnG.. aad Provl,ions
cHIcAGo-Both the May and De-
cember futures in wheat closed to-day
at substantially unchanged prices Fig
ures on the stocks yet In farmers
hands and rumors OF forthcoming
heavy shipments to Chicago played
havoc with prices for awhile. but the
export engagements came to the res
cue. Corn was weak and closed "a NC
lower! Oats and provisions showed
very little change az the close
Wheat started firm az 90hG90Hc for
May and at 95S for December, advances
OF &c and Sc respectively. May soon
after advanced to 9O%c, on moderate
buying by local shorts and by houses
with foreign connections The strength
was due mainly 10 the action OF the
Liverpool market, which opened with
slight decline, hut was back 10 yester-
days closing quotations before trading
commenced here In the course OF a
few minutes more the Liverpool prices
had further advanced 10 from nd TO sd
for the day, The Northwestern re-
ceipts still held at volume too great
for any confirmation of the claims
made that farmers deliveries In the
northwest had materially decreased,
On the other hand Beerbohm was re-
ported to have made final estimate
OF the quantity OF wheat grown IN the
world this year, which made It 10000
900 bushels short Of the year previous
and lS6,OOO,OD0 bushels less than the
worlds crop In 1891, In which the Uni
ted States md Canada raised the heav.
lest crops in their history, The export
clearances keep up In "A remarkable
manner. Six ports cleared neariy 700
600 bushels wheat and -four for the
day. The estimates on stocks at the
northwest markets Is an increase of
100000 bushels at Minneapolis ana Du-
luth received 100 cars, against 49S last
year. Chicago receipts were l46 cars.
The Thoman crop report came ont
durlnH the morning. II claimed that
the amount of winter wheat seeded this
fall was per cent In excess of the area
harvested last summer and that IS per
cent OF the crop-equal TO 275,0O0,OO0
bushels--was still on hand, which Is 90
100000 bushels more than at this time
last year and would leave as available
for export up to July next, 1l5,0O0,000
bushels.
The statement was so bearish that,
although It was vigorously denounced,
It caused sharp liquidation and de-
cline In May to S9Bc. Even December,
which has sold up to csc under good
buying was let go OF in quantities suf-
ficient TO cause break to 94lsc, There
was renewed reports that the accumu-
latlon OF five hundred cars at Minneap-
oils was for the purpose OF bringing
wheat to Chicago in the event Of navi-
cation closing soon. After midday the
market was better supported. New
York reported sixty loads taken for ex-
port. This stimulated buying toward
the close and May rallied TO 9Oc. 1t was
selling at S97sc at the close and Deem
Der at 95c.
Corn was very heavy and readily
sympathlzed with the downward ten
dency In wheat. when that market was
declining. but did not so readily incline
to follow the latter on its later advance,
The selling was the same kind as
yesterday, by elevator people and pro-
fesslonals with some December liqul-
dalton. Receivers reported country Of
ferIngs liberal Clearances were SSS,OOO
bushels. Receipts were 265 cars, May
TdHkNu AltHI -oThN ~ -oN-o4bNi N'S"'''b
h1hc lower at 2Sasc.
Covering by shorts caused the late
rally,
Oats were weaker and hdAc lower
early. but rallied and closed with only
Mc decline. There was considerable
selling of general nature while wheat
was ON the decline. but offerings were
fairly well taken and the martet easily
recovered when wheat turned upward.
Commission houses were the best bug
ers Receipts were $40 cars, Clelrances
were 2l3,OOO bushels Cash demand light.
May ranged from &c to 2lRG2lsSc, and
closed at 2lAc.
The market for provisions was quiet.
only limited business being done. The
feeling was steady. but prices changed
narrowly as on yesterday. The hog
market was firmer The demand for
cash product was active and sales were
fairly large At the close January
pork was 2isc higher at IS l7iE; Janu-
airy lard unchanged at 81 22is and jan
uarv ribs unchanged at 81 l7Ia.
Estimated receipts Saturday:
Wheat. 100 cars: corn, iij cars; oats,
3T5 cars. hogs 1900 head.
The leading futures ranged as follows: