The herald., 1897-08-21
CHICAGO MARKETS
Yesterdays Transactions on the Board
of Trade

| CHICAGO, Aug. 20.-The wheat market
| had another remarkable advance today,
September closing at SO and December at
92Ss, showing gains of SIS and 5ss respective
| ly. There was sensational advance at
Liverpool and poor crop reports were re-
sponsible for the jump, which was accom-
panied by scenes of excitement almost I'M
paralleled. On the curb this afternoon Sep
| tember wheat sold at 95A Corn was ad-
vanced 51s in spite of unfavorable condition
and oats closed one-half higher. Provisions
advanced 5@15 cents.
| Wheat opened with roar at 90ls69O5s
for September, and from 9OAM91 for De-
cember, against yesterdays closing prices
of S71s@S7A.
An active scramble for the limited offer
ings at the commencement jumped the
| price to 911s for both September and De-
cember before much could be bought. The
| early kilograms on market matters were
quite sufficient to account for the renewal
of the buying frenzy with which a num-
ber of the heavy dealers have been seized
during the last six weeks. Liverpool was
excited and higher at the opening and in
the course of half an hour the Liverpool
excitement had carried the days rise UP
to the equivalent of SIS cents per bushel,
the cablegram quoting the advance at
4Bd. per GENITAL.
Crop reports from the northwest were
even worse than usual, while Beerbohm
added fuel to the flames by cabling pre-
dictions of 81 wheat on account of the
European crop being estms ted at 1884,, 900
bushels short of requirements. Wheat
had declined to S9A for September on re-
alizing sales, but the publication of such
radical statements started the specula-
tors and made them to man anxious to
get some wheat. The result was that in
two hours from the opening December had
risen to SO cents and September to 92ss
while st. Louis. Minneapolis and Duluth all
quoted 81 as the price of cash wheat in
their respective markets. The reports of
foreign buying of cash wheat at New
York were of a sensational character.
Everything offered in the shape of flour or
wheat to London, Liverpool. Bristol Hull
or other United Kingdom ports was ac-
cepted and before noon 110 boatloads, or
$50, 900 bushels had been sold for exporta-
tion. The Paris market was reported about
1ac. per bushel less for the day, but for all
that orders from to buy wheat of futures
were heavy and the demand from the
United Kingdom was said to be immense
Every house here with English connections
had buying orders for December wheat,
many of them to cover previous short
sales.
Chicago receipts were 1893 carloads of
wheat, only IA of them contract, and Sc of
the lot were new spring. Minneapolis and
Duluth got 1853 cars compared with 37S
year ago. Export clearances from At
lantic ports were equal to 700, 900 bushels
The advance here, which finally reached
931s for both September and December,
seemed to have paralyzed the cash trade,
and only 10000 bushels were sold for ship
ment from here. The market was very
active toward the close, with fluctuations
very frequent September was bringing
90 cents at the close and December was
quoted at 925s In spite of large receipts
a good deal of country selling and pros
pect of milder weather corn was strong,
and at one time showed over a cent ad-
vance. September opened about "a higher,
at 291s, sold between 29 and 29%@29%, rest
ing at 29as@291a. Oats were rather quiet
during the early morning. but the mar
ket became active as the session advanced
and heavy days business was done.
September opened a shade higher at IS,
sold at 17S@1S and advanced to 1871. The
closing price was 1S1s asked. Provisions
enjoyed some of the general bull prosper
ity. good cash trade was reported and
there was considerable activity in the pit
Packers were the chief buyers, led by
Armour G. Co. The Cudahys sold lard and
ribs, a feature of the market at the close
September pork was 10c higher at S.67h,
September lard SC higher at 4.55 and Sep
tember ribs 15c higher at 5.521k.
Wheat No. 2