The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-03-04
GRAIN AND PROVISIONS.
CHICAGO.

Chicago, March 2.-The local wheat
market had its tail thoroughly twisted
by st. Louis today. The sharp bulge and
equally sharp break there were closely
followed here, the May option closing at
lie advance after selling 1c above that
figure, the session being the lveiest seen
in some time. All the other pits were
very dull, corn and oats closing at sub
stantially unchanged figures and provi-
siOns 5M7 1-2c decline.
Wheat-The Russian crop damage re-
port to wheat was new string the bulls
| had to play on when the work in the
pit commenced. They twanged upon it
so much that in an hour the price of
May wheat had advanced l LIE per
bushel. Whether inspired by the exam
pie OF Chicago or because the Russian
damage was the stimulus. at Liverpool,
wheat there opened with the modest gain
er for the day when next heard from
That market made its influence decided
ly felt all day. May wheat. which closed
yesterday at IS 1-4M75 3-Sc. opened to.
day 20 $500 lie and sold at &c be-
fore. an hour had gone by. The bull
music kept up until about II 80, when a
cablegram from Liverpool to prominent
house here threw it into bowling dis
cord which gave the bears their oppor-
tunity. The Liverpool cable referred to
read:
Advance in futures due to shorts COW
| erlng, spot wheat pressed for sales with
out buyers. Russian offerings increas-
| ing"
That and sudden collapse of pre-
viously pronounced bullish wheat market
at st. Louis caused stampede of the
bulls here. st. Louis, which yesterday
at the close quoted May wheat at
81 1-Sc, hoisted in the first hour today
to 80 LIE and let the bottom fall out
afterwards. The suddenness of the drop
made spectators fairly SILVER and sent
May tumbling from rs 3-4c to Is 7-Sc.
Chicago receipts of wheat were 80 cars
and shipments by rail 111,534 bushels
Minneapolis and Duluth reported 359
cars against Cos cars week ago and
800 cars last year. Atlantic port eX.
ports of wheat and -four were together
equal to only 215,000 bushels. Brad
streets statement of the worlds visible
gave it as having been reduced 4,405, 0OC
bushels last week. 100000 bushels OF
it here 4c and 2,256ooO bushels in and afloat
for Europe. May rallied from Is 7-Sc tC
76 1-4c on that, but the bull feeling had
been SO largely squeezed out that il
turned down again to 70 5-Sc and CLOSED
at 10 3-4M15 3-Sc.
Corn was very quiet all day, and ever
when wheat traders were tumbling al
over themselves in their eagerness to buy
or sell, no sympathy interest was dis
played. The general feeling was firm
but fluctuations were confined to 1-Sc
Receipts were liberal and exports mucl
lighter than of late.
The market for oats was dull to the eX
Itent of stpidiity. The feeling was stead.
and a shade higher.
Provisions were easy and dull. Ma,
pork closed LIE lower, lard Z 1-2c an,
ribs &c lower.
Estimated receipts for tomorrow
Wheat, - cars; corn, 240 cars; oats, 19
cars; hogs, 10000 head.
Cash quotations were as follows:
Flour-Firm.
No. 2 spring wheat, 74Ac; No. 3 sprin
wheat, 74074Ac; No. 2 red, S3A0IS4;a
No. corn. 23c
No. 2 oats, 16@161sc; No. 3 whit,
2019c; No. white, 1Sc.
No. 2 rye, 3311ac.
No. 2 barley, nominal; No. g. f. o. b
23113aG30c; No. 4, f. o. b., 221ad25c.
No. l fax seed, 761a679c
Prime timothy seed, 1885.
Mess pork, per barrel, $7.95dS0l
Lard, per 100 pounds, $39503.97%.
4 Short ribs sides Qoose), $4.10d4.30.
Dry sailed shoulders (boxed), 41btd4A,
Short clear sides (boxed), 4aSM41ac.
| Whisky, distillers finished goods, pc
gallon, SLIT.
The leading futures ranged as follows