The San Francisco call., 1897-05-09

grainbroker, 4l2 Pine street. -
SAN FRANCISCO May 8, 1897.
Chicago.
A surprise was in store for shorts who went
home last night expecting to find Eng :sh mar
kets lower this morning. The fact that this mar
ket declined 11zc yesterday made shorts courage
Gus. Their faith more than ordinarily strong
An awakening came thick and fast when Liver
pool reported their market had taken ne notice of
Chicago's decline yesterday.
The cary curb advanced to 7O7sc, with Tic bid
for July as the session opened he buying at the
start was by more than shorts. outsiders gave
tn market liberal support Offerings were mod
crate until the price had r- ached 1919. Selling to
take profits relieved the strain.
There concentrated effort to force the
price higher and dragging market characterized
the last hours trading, July selling between 721s
@721ac, closing at 7214c, sellers May ranged
Lao Tsc over JUL Sep ember did not show the
snap Of other flu .ures $3.50 being the final quosa
tion The factors in to- DAYS market were many.
Everyth hing appear ed 10 change over night. Yes
terday ST. Lous sold heavily in this market; to-
day they bought freely
dtion at 70 against Sl.04 Aprh l. Foreigners
we're making liberal inquiry for cash wheat
Weather conditions throughout the Northwest
and California were not encouraging The shorts
who had placed themselves in an awkward posi-
tion just previous TO the issuance of the last Gov
ernment report preferred to get out and even up
pending this report.
" hile the market has fiuctuated within a COM
paratlvely range during the week the
volume Of business has been large. Estimated
Mondays visible supply will show decrease in
Bushels
Receipts of wheat at primary points. ..... 3l4.3Sl
Shipments of wheat at primary points. 44o, 295
Receipts of wheat at tidewater points 4U4, 2OS
ar lot wheat Chicago cars....-........... 4
Car lot wheat Duluth, cars. 1O9
Car lot wheat Minneapolis, cars.......: 17o
Corn dull Trade is increasing some At pres
ent scalpers and privileges keep the market within
narrow quarters. Weather conditions now are
most favorable. Brokers seem 10 have liberal
outside buying orders at limits Estimates on the
visible supply Monday are from four to five mil
lion bushels 'decrea,e
Oats only fairly active. Prices fractionally
higher
Provisions firm. Prices slightly higher than
yesterday. Buying by prominent operator
was the main feature OF the days trading.
San Francisco.
9:15 A. NJ SESSION.
Weather conditions, higher Eastern and steady
foreign markets contributed new strength In wheat
to-day. Chicago information generally bullish.
Liverpool fai. ed to reflect Chcago's weakness of
yesterday. Reports from the Sacramento and San
Joaquin valleys were unlavorable North winds
were prevalent W tn a rising temperature.
Wheat OPP opened excited First 5ransactions az We're
days close. Longs who had good profits started
selling causing an easier ieeing Before these Of
ferings were absorbed the price had broken l12c,
but was firm at the decline.
Sentiment is changing the loag size appears to
be gaining new friends daily.
Estimates regarding the wheat crop yield of Cal
ifornia Tor 1897 run from 100000 TO l,U00. 600
tons. The Government report due Mon day should
show more correct estimate this month than in
its last report, which those best Informed claim
was at least 10 per cent 100 high.
10:15 A N. SESSION.
The feeling IN wheat W as more steady Enough
long wheat came out to supply the demands of
shorts. he weather over the San Joaquin Va
ley was reported COO, while reports from the Sac
ramento Valley We're less alarming.
december wheat fuctuated between ST. 26Ss@
i 267s. The trading was fairly large during tne
Barley was dull, buyers and sellers being about
1 cent apart
11:15 A. N. SESSION.
This session was characterized by only moder-
ate trading. Weather conditions kept the shorts
from venturing far from shore, while the longs
seemed willing to take their profits and c.eau up
over Sunday. Buying by shorts about evened up
The selling oy longs. A slightly easier feeling
prevailed atthe close. The opening price OF De-
cember wheat was 81 26s4, closing at 81 1888
sellers. There was trading in barley; 75s4c
was bid and 76s4c asked for December
Seller the year ''New Wheat" season storage
paid, 81 25 bid, 81 261a asked. Septe nlber,
81 2212 bid, 81 % askedi May, 81 1874 bid,
81 3S1e asked.
The week closes showing an advance In wheat
of &c and in barley Of &c per Genital as compared
with the same time one week ago. Many crop
damage reports have been received Change
during the week The weather forecast for the
next forty y-ei. ht hours Is not encouraging Hot
weather with moderate north winds for the Sac
rame nto and San Joaquin valleys preiict ed
livery hour of such weather is disastrous TO wheat
ana barley.
The present price of December wheat, freights
considered, Is not too high upon shipping basis,
Sentiment Is gradually tending toward higher
range of prices. Those who prtdic ed 81 for De-
cember wheat are now inclined the long side.
Bear pressure has been greatly reduced of iate.
The market promises to be a broad one for some
time to come Outsiders beginning to lend
their strength in material manner, the effect Of
which is daily more and more EVIDENT
AFTERNOON CURB
Prices were slightly lower, sales were m ade at
81 26 for Decem ter wheat. Traders have not for
gotten their experience OF two weeks ago when
prices slumped oa lily from the close on Saturday
nnf and q slsz ~.
market was strong buyers were in The majority
Weekly privileges: Decemoer wheat, calls,
81 21