The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-06
WHEAT and CORN HIGHER
The Chicago Market Followed the
Lead Of the Foreign.
SPRING WHEAT ESTIMATES REDUCED
Drouth mt Home and strong Mar
kets Abroad Were Prevailing In
nuences-Buyers CONFIDENT.

Chicago, October 5.-The local wheat
market today followed the lead Of the
foreign markets and closed strong, at am
advance of &c over yesterday. Foreigners
were good buyers of cash grain and were
evidently much impressed with the drouth
in America and Argentina. Corn was
strong. but advanced only A@as. Oats
closed II higher. Provisions were neg
lected and weak in consequence. Drouth
at home and strong markets abroad were
the Influences which were uppermost in
the wheat market when business began.
Buyers took hold with more confidence,
while short sellers, and in fact all kinds
of sellers, were inclined to be more eau
tious.
Liverpool cables opened at an advance
| of I'D over night and subsequently adj
vanced to Id above yesterdays closing. In
the pit there were buying orders for De-
cember wheat coming direct from Paris.
though the quantity thus bought was not
large enough to attract general attention
| The fact that the Northwestern receipts
were large was not sufficient to Offset the
weather news. Minneapolis and Duluth
received 1851 cars. against 1241 for the
corresponding week last year. December
| opened at S7sQ90Is. with few small lots
selling as low as SeA. The prices soon
gagements were reported at 6S boatloads.
me weekly reports of the Great North
ern road confirmed those of large num-
per OF correspondents, covering a wide
area in the Northwest, that their spring
returns were disappointing and that pre-
v!ous estimates would have to be reduced.
A very sharp squirt In the price at Duluth
gave color to the stories. Reports of
drouth in the Argentine Republic came
from various sources and from the fact
that foreigners bought not only wheat,
but corn and rye in this market and pre-
sumabiy elsewhere, it looked very muct
as Enough the European Centers were get
ting stirred up again. The market grua
very strong toward the Close the firmness
OF closing cables and the anxiety of for
eigners to purchase wheat scared tho
shorts who have been having their own
way for some time past December sold
up to 91as. finally closing firm at that
price.
Corn was strong on the continuation OF
the drouth and in sympathy with the
also attracted attention Receipts were
40 cars. Atlantic clearances were IT'S 900
bushels December ranged between 29ns
and 29ls. closing k6ss higher. an ee7l Ot
ferinss were liberal at that figure.
Oats were firm, affected somewhat bv
wheats advance but also largely by the
a ,ho an, There was an advance early In
cropped off later and part of the advance
was lost. Cash demand was excellent
Efecelpts were $50 cars. December ranged
from l9's TO 1875, closing X higher at 19a,
PROVISIONS We're also very slow. Tho
opening was lower because of liberal re-
ceipts OF hogs here and the lower ward
grain but grew weak again and REMAINED
M Inat condition for the rest of the SEES.
sion, Moderate January offerings by pack |
ers were about the only features to tho |
trading. At the close December rorE w
s.snlo lower December lard 5a7Is lower
at 40 ana December ribs lower at $40.
,od estimated receipts tomorrow-Wheat |
5000 head Wv e''' NosS
me leading futures ranged as follows,