The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-17
DECEMBER WHEAT WAS UP
Offerings Of Option Were Very
Small aud Quickly Taken.
SHORTS WERE TlMID AT THE OPENING
Nigh premature for December over
May Contracts-FOreiwn Markets
Were Disappointing.

Chicago. Octobec S.--It was a case OF
dog eat deg In the wheat market today.
From tho scarcity OF December offerings
and the duickncss with which anything
was taken. a badly congested condition in
that option was Indicated. The close was
| Arm at 1c advance. Rains West and dis
| appointing Liverpool cables caused
slight opening decline. the only weakness
the market displayed Corn was firm,
blu. closed unchanged. Oats were shade
| higher at the finish. Provisions were
weak. principally from the yellow fever
scare. and closed 50l2i9c lower.
| Wet weather throughout the greater
part of the winter and all of the spring
| wheat territory. disappointing foreign
markets and very marked increase in
the wheat receipts i'm the Northwest con-
| fronted the wheat trade at the opening.
Though the effect was partially offset by
tho surprisingly large exports for the
week. there was nevertheless a general
selling out of wheat by timid holders and
the opening market was lower.
December started at al09lA, as COM
| pared with yesterdays closing price OF
| 9fss9slh. The weakness was short lived.
however as the lower prices stimulated
| strong buying and caused a rally Of 1c per
busbel In very few minutes, December
advancing to 93h. The December future
acts as though 1t was considerably con-
gested. as 1t sold at 2i4c premium over
May
| The Bradstreet report shows wheat ana
flour exports equal TO 6oSa,0o0 bushels,
against 4,s46.oo0 last week and 4,157,0oo the
corresponding week Of last year. Revival
of the old rumors that Russia would pro-
hiHt wheat and rye exports and that
| France would abolish it's import duty on
| wheat created little bulish feeling. Dur
| ing the first hour December advanced to
| 927s while this bullish news was circu-
lating
| Northwestern receipts were 1i76 cars,
| against 1l40 last week and SIS last year.
| The receipts at all primary markets az
! gregated 100000 bushels, against 9S7 ,oN
the corresponding day year ago. Chi
cago receipts were 1873 cars.
| Liverpool opened ssd higher, but closed
only I'D higher for near months to nd
| lower for deferred months. Paris closed
! unchanged to 10 centimes lower for wheat
but io@4o confines higher for -four. and
Antwerp quoted wheat unchanged to l2p.
higher DESPITE the apathy shown in their
markets, there was evidence conclusive
| that the foreigners were also buying lib
4 strong tone Of the market for ocean
freights indicated that the cash stuff was
going out. The advance for the day was
| tempting enough to induce many owners
of wheat to sell out and take their profits
rather than carry the property over te
next week. The result was a slight re
action from top figures. December was
selling al 92i2 at the close.
There was sairly active trade in corn
| with shorts again liberal buyers. Al the
opening the market was weak on the large
| local receipts-l57 cars-rains West and
poor weekly exports There was a strong
demand at the decline, and, helped by the
ad"apce In wheat. the market rallied
sharply. The inquiry dropped off ;owArS
the close and prices sank again. A larg,
Tracts to May was done during the day
December ranged from 27A to 26%s an
closed unchanged alt 267s.
The market for oats was firm on a de
cidedly narrow trade, confined mostly Il
exchanging. The tone, with the exception
firm, and prices ruled a shade higher. Sym
pathy with wheat and corn and re
newal of the cash demand were the infiu
ences. =. Receipts 419 cars exports ovei
zoo. Gao bushels. December ranged from
1875 10 lsl9d1sss, closing a shade higher a
1t was rather quiet day in the pro
visor pit The market ruled easy earl!
on lower hog prices and the yellow feve
news. There was commission house sell
ing on a fair scale. There was a partia
rally In sympathy with wheat, but tn
general tone was easier throughout. TIL.
stocks Of lard are said TO be under 200, 90
tierces. ribs 100000 pounds. AT the clos
December pork was 1212c lower al 775, DE
cember lard SC lower at AIN and Decem
ber ribs l0c lower at 4.5o.
Estimated receipts Monday-Wheat q
cars corn $40 cars, oats $50 cars, hogs 80,
600 head.
The leading futures ranged as follows;