The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-02
GRAIN AND PROVISIONS.
Gymnastics of Wheat-Corn Unaf-
fected-Provisions Lower.

Chicago, Dec. 1.-The misunderstand-
ing of an order to buy December wheat
came near demoralizing the market at
the opening. a commission firms order
to their broker to buy 25,00O bushels of
December wheat was misconstrued. and
the wheat was instead offered for sale,
resulting in some other small lots COM
ing on the market, and an almost i'm
mediate decline to %, as against 95%
at the close yesterday. The mistake was
soon discovered, and the buying of not
more than $4,000 bushels put the price
up again to 9634c in quicker time than
it took to go down. May started I'M
changed at 911a, but the demoraliza-
ton in December caused a temporary
depression in May to 90A. 1t quickly re-
covered, however, and in the course of
the forenoon it reached 91s. The cold
weather continued throughout the Win
ter wheat region and the fields were
still uncovered.
The ST. Louis crop experts evidently
thought the trials that the plant was
being subjected to was more than it
could 1--we through, as several orders
came from there to buy July wheat.
That future, in consequence, was rela-
lively stronger than May. Minneapolis
and Duluth once more this week show
ed some falling off in receipts, COM
still discouragingly heavy as against
those OF a year ago.
Atlantic port clearances were equal to
$4,000 bushels in wheat and flour. The
western primary market receipts were
1,009, 600 bushels, compared with only
504, 900 bushels last year. Zero weather
prevailed in the region around Duluth,
so that it was considered very question
able if any more shipments would be
INC RI fr.n17 he, 1r- lob hi
This was delivery day, but notwith-
standing this fact there was hardly any
wheat turned over, and it is the belief
that little will be until navigation is
closed. Liverpool opened unchanged
for all futures except May, which open
ed Esd higher, but it closed strong, go
Id higher for March, this trading month
being the strongest.
Notwithstanding the rather encour-
aging situation, the trade was so light
and the active local traders so reluc
tant to retire with any unfinished bust
ness in their hands, that in their efforts
to dispose of long wheat they accumu-
lated during the forenoons rise, the
market slipped from under them and
the price of May went down from 915s
to 90as, about Is minutes from the close.
New York reported but ten loads for eX-
port. This lack of export demand start
ed the unloading which was rendered
difficult by the almost utter lack of
buyers, and prices slipped down very
easily. May closed at 9Oss @9o1a. De-
cember behaved better after this morn
ing's gymnastics, and closed at 964, an
! advance of X.
Corn was firm and very little affected
by either the strength or closing weak
ness of wheat.
Up to a short time before the close,
the market for oats was firm, active
and higher, December especially show
| ing strength.
The market for provisions was for a
time smothered under the enormous re-
ceipts of hogs today. This feature.
coupled with rather free deliveries OF
pork and lard on December contracts,
caused lower prices early.
The leading futures ranged as follows: