The herald., 1897-11-11
CHICAGO MARKETS
Yesterdays Transactions on the Board
of Trade

CHICAGO, Nov. 10.-Wheat started with
a bulge of 1ss@1% for May, opening trades
in that option ranging from 901a to 907s and
a somewhat excited demand existing at
those figures. The cause was the wholly
unexpected jump at Liverpool. where ad-
vances of from ~ to 21a per bushel were
recorded before trading commenced here.
This, it was soon explained, was due 10 a
Buenos Ayres dispatch to the London
Times stating that the wheat and flax
crops of Argentine had been severely in
jured by frosts.
Great efforts were made to discredit
the frost news but it was too we'll authen-
ticated to be disbelieved. The only posS-
BILE uncertainty connected with the mat
ter was as to the demand and it gave a
scare to the short sellers. The opening ad-
vance of course attracted selling orders
from people who considered the rise too
sharp and sudden to be maintained. Such
selling kept the price from getting higher
than it opened for about an hour, but all
the efforts of the heavier shorts who re-
fused to buy on the bulge, but dare do
nothing to help depress it, except in the
way of talking 1t down, could not accom-
plsh more than a 9sc reaction from the
highest point of the opening range. The
market sold down very gradually to 90A
then back and forth between that price
and 9OA, but by noon selling around Ole. In
some respects the news was bearish chiefly
in connection with domestic receipts. Chi
cago had 104 cars inspected into store
against 40 a year ago. Minneapolis and
Duluth got 119O cars. against 4110 on the
corresponding day of 1896. The accept
ances from abroad of wheat offered by ca
bic yesterday and the day before are larg-
est this season. What came to the
Strengthening of the market at such times
as the belittling of the Argentine news, was
having some effect.
Before the day was done 1t was reported
that 125 boatloads-1,O 900 eco bushels-had
been sold for export. The market rule d
strong near the end, May closing at 9OH
@91
Corn was firm particularly for Decem-
ber, but trade at no time was active. The
market was helped by the upturn in wheat
Oats were unusually active. The open
ing was strong, following wheat, and good
buying by commission houses advanced
the price as. The advance was somewhat
curtailed by persistent selling on the bulge.
Provisions were a disappointment scarce
ly maintaining themselves in spite of the
wheat strength and the practical ending
of the yellow-fever scare. Prices at the
opening were slightly higher, but this was
soon lost.
The leading futures ranged as follows
Wheat No. 2-November, new, $685. De-
cember. new. 93%; May, 9OM@91.
Corn No. 2-November, 261s Decembec,
26A@2G7s May. 30ss.
Oats No 2-December, $4,000: May, %
Cash quotations were as follows: Flour,
steady; Nc. spring wheat, S7@SS: No. 3
spring wheat. S1@90; No. red, 9S7s@947s: :
No. corn, 2624@27: No. 2 oats. 20ls; No. 2
white. fob, "a; No. white. fob. 221a@
2Sla; No. 2 rye. Az; No. barley, fob. 2e@
AZ; No. flax seed 1030l1O7; prime timothy
seed. 2.65; mess pork. per bbl.. 7.4O@7 As lard,
per 100 lbs. 4.20: short ribs sides, loose,
4S5@4.95; dry salted shoulders, boxed. 44@
5: short clear sides. boxed, 4%14M; whisky.
distillers' finished goods, per gal.. lis