Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-12-04
PRODUCE.

Chicago, December Both the May
and December futures in wheat closed
to-day at substantially unchanged
prices. Figures on the stocks yet in
farmers hands and rumors Of forthcom-
ing heavy shipments to Chicago played
havoc with prices for while, but the
export engagements came to the rescue.
Corn was weak and closed B@Ac low
err Oats and provisions showed very
little change at the close.
Wheat started firm at 901B @90Ac for
May, and at $3.50 for December, ad-
vances of &c and &c respectively.
May soon after advanced to 903sc on
moderate buying by local shorts and by
houses with foreign directions. The,
strength was due mainly to the action
of the Liverpool market, which opened
with slight decline, but was backed
to yesterdays closing quotations before
trading commenced here. In the course
of a few minutes more the Liverpool
prices had further advanced to from Ad
to SD for the day. The Northwestern
receipts still held at a volume too
great for any confirmation of the claims
made that farmers deliveries in the
Northwest had materially decreased.
On the other hand, Beerbohm was re-
ported to have made final estimate of
the quantity of wheat grown in the
world this year, which made it 100, 000.-
000 bushels short of the year previous,
and 136,C00,000 bushels less than the
worlds crop in 1891, in which the
United State and Canada raised the
heaviest crops in their history. The
export clearances keep up in remark
able manner. Six ports cleared nearly
100000 bushels Of wheat and flour for
the day. The estimates on stocks at
the Northwest markets is an increase
Of $4,000 bushels at Minneapolis, and
a decrease of 1000 to 100000 BUSH
els at Duluth Minneapolis and Du-
luth received 759 cars, against 49S last
year Chicago receipts were LAG cars.
The Thoman crop report came out
during the morning. 1t claimed that
the amount Of winter wheat seeded this
fall was per cent in excess of the area
harvested last summer and that As per
cent of the crop-equal to 275, 200, 900
busheis-was still on hand, which is
80 600 600 bushels more than at this
time last year, and would leave as
available for export up to July next
100000 bushels.
The statement was so bearSh that,
although it was vigorously denounced,
it caused sharp liquidation and a de-
cline in May TO S91sc. Even Deem
Der, which had sold up to Csc under
good buying, was let go of in quanti-
ties sufficient to cause a break to 9412c.
There was renewed reports that the
accumulation of 500 cars at Minneapolis
was for the purpose of bringing wheat
to Chicago in the event of navigation
closing soon. After midday the mar
ket was better supported. New York
reported 60 loads taken for export. This
stimulated buying toward the close and
May rallied TO soc. 1t was selling at
S97sc at the close and December at Csc
Corn was very heavy and readily
sympathized with the downward tend
ency in wheat, when that market was
declining, but did not so readily incline
to follow the latter on its later ad-
vance.
The selling was the same kind as yes
terday, by elevator people and profess
sionals, with some December liquida-
ton. Receivers reported country Of
ferings liberal. Cleaances were SSS.000
bushels. Receipts were 365 cars. May
ranged from 2S5sc to 2Sd2S1sc, closing
B@Ac lower, at 2Ssc. Covering by
shorts caused the late rally.
Oats were weaker and A@1sc lower
early, but rallied and closed with only
1sc decline. There was considerable
selling of general nature while wheat
was on the decline, but offerings were
fairly we'll taken and the market easily
recovered when wheat turned upward.
Commission houses were the best buy
ers. Receipts were $40 cars. Clear