The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-29
BREAK in THE CASH PRICE
Caused a Neakness 10 Speculative
Future Markets.
INCREASE IN. SPRING CONTRACTS.
wheat showed More Than . Cent
Decline. Corn Touched the Lowest.
Point and Oats Were Down.

Chicago, September 2s.--Spcculative fu
lures in wheat were all weak today
chiefly through sympathy with the dig
break in the cash market. That market
was UPSET by 100000 bushels increase in
contract spring wheat. December closed
at lAa1ssc decline. Corn. under heavy
Liquidation touched the lowest point Of
the present decline closing &c lower Oats
declined &c and provisions closed 100
lower.
Wheat was easy at the opening, the
lleaviness of the Northwest receipts hav-
ing depressing effect. The number OF
cars reported at Minneapolis and Duluth
was 1872, compared with 1924 week ago.
year ago. however. but 1iS cars were
received. Tie effect Of this was an open
ing decline of Sac. December, which closed
yesterday at 91ssdsl%. started today at
91%G9lis. For a few minutes after the
opening It showed symptoms of recov-
cry. The weather West and South was
still very dry, and farmers were reported
TO be very greatly discouraged on ac-
count of inability to do their fall plowcng.
Reports OF damage by drouth and frost
in Argentine were also plentiful. This
caused an advance in December to 9l5s. 1t
held for moment or two only. ana for
the remainder Of the session the market
ruled weak. There was but one Interrupt
ton to the decline and that came when
the closing Liverpool cables were posted,
Showing 1sdgh4d advance. December had
previously worked down to sos, but 1t re-
covered then 10 903s.
Chicago received isi cars. not one of
which was deliverable on December con-
tracts. There were, however. Is cars or
No. 2 spring inspected into regular. ele.
vagcrs. Is OF which came out Of local
houses. The quantity of spring wheat In
stock week ago was only 5l2,OO bushels
an is now l133,Oo0 bushels. showing $685..
900 additional for the week, nearly all of
was inspected as No. or lower As No.
spring Will not be regular after Septem-
Der 80. this was good deal OF bear
ish factor. Exports from Atlantic coast
$4,000 bushels. Continental cables were
irregular Antwerp showing 121a decline,
while Paris showed 10 advance in Sep
TENDER, with later deliveries unchanged.
One featuresof the trading was the heavy
selling of December by one or two prt-
vate wine concerns, presumably for
prominent st. Louis operator The mar
kct as a whole, however. was very dult,
with an almost total absence OF outside
support. December was selling at 90ss at
the close.
Corn opened easy and became very weak
az the session advanced. Receipts were
$50 cars-neary 200 under the estimates
but there We're already heavier stocks
than could be handled at previously pre-
vailing prices. so that fact had no effect.
Tho weakest feature of the situation was
that cash corn was offered &c below DE
cember prices. There was very free sell
ing by professionals. The shipping de-
mand was only fair. Exports amounted
to 26S.2i2 bushels. December opened &c
lower at 2a%d297s sold down 10 291s. clos
ing at 29isQi29l4
There was little doing in oats. The
market was weak from the start, princi-
pally Through sympathy with corn. The
cash demand continued urgent and readily
absorbed all offerings Receipts 6Sl cars.
December ranged from 204 to 1885 closing
Csc lower at 1888.
Provisions were steady at the opening.
The market soon became weak on free
offerings of ribs by packers generally and
of lard by Cudahy. Yesterdays advance
also brought outside realizing sales. and
as the market lacked support a decline
was Inevitable. At the close December
pork was l0c lower at $40, December lard
ioc lower at 4'471a and December ribs 1Oc
lower at 4.T5
Estimated receipts tomorrow-Wheat 800
cars, corn $50 cars, oats 375 cars, hogs 3i,-
900 head.
The leading futures ranged as follows: