The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-01
CHICAGO GRAIN MARKET.
Visible Supplies Cause Fluctuations
in Wheat-Provisions Firm.


Chicago, Nov. 9O,-Wheat started heavy
and was on the down grade for an hour
and half May. which closed yesterday
at sO1a@1O5s, opened today at 9OasQ9O1s.
Enough buying was started at the slight
decline to advance the price temporarily
to 9OA, but it soon got down again to
90A. December was even weaker, open
ing lac lower at 95$z, selling at &c. then
decling to 95A. Weakness al Liverpool
with an opening decline of sd, was per-
haps the main reason for the decline.
The northwestern receipts, while heavy,
and compared with those on the CORE
spending day of the year before, enorm-
ously so. were yet as compared with
the movement a week ago, considerably
smaller, and Indicative of the bear point
of a radical decrease. Minnea polls and
Duluth reported 1.043 cars against 1,306
last week and 316 the year before. Chi
cago receipts were 274 car loads against
only 5S cars last year.
The export clearances from Atlantic
ports proved to beso conspicuously heavy
that they drove out of mind the bearish
features that had been the guiding mo-
tives on the decline and caused speedy
reversal of the previous course of prices
The days exports of wheat were 49,
AGO bushels and of flour, SS.199 barrels;
the total being equal to 1,135,000 bushels
of wheat. That was said to break all
previous records for one days exports
from the Atlantic seaboard.
Quite a scramble by shorts took place
after the posting of these figures, which
resulted in sending the price of May up
to 911s091az and December to 961A. The
advance was well maintained until
Bradstreets reported that the world s
visible had increased 100000 bushels last
week. 100000 bushels of which increase
wason this side and 100000 bushels of it
in and afioat for Europe. That temper
aril.7 shook the firmness, and the price
of May receded to 9O9s. The shorts had
however. been so severely jolted by the
rise to 911sG91A that they were rendered
timid by this time. and 1t took only a
show of buying to rush the price once
more TO 91A. The primary market re-
ceiDts were three times heavier than
on the corresponding day of the year
before; the total amounting to l. 100. 900 to-
teo, but the bulk of the days receipts
were at Minneapolis and Duluth. The
contracts stock at Chicago increased $780,,
900 bushels for the week, making the
total 2530,000 bushels. The market to-
ward the close was quiet, but firm May
winding uD at 911s, December, however,
was not quite so buoyant, closing at 95M.
Corn took its cue from wheat, starting
weak and declining as long as wheat did
and when the latter market changed
from weakness to strength, corn did the
same. The days movement of corn
favored holders, but this fact was dis
regarded until wheat rallied.
There was very little to the oats mar
ket except changing at 11a11%4c spread.
With the exception of a short time after
the opening, provisions were firm. Heavy
receipts of hogs here and at western
points caused some hesitation early. John
Cudahy was good buyer through
lines, and the buying was responsible for
the slight advance in January products
which marked the close.
The leading futures ranged as follows: