The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-10-07
GRAIN AND PROVISIONS
ChicH &c.

Chicago, Oct 5.-The local wheat mar
ket today followed the lead of the for
cign markets and closed strong at an
advance of &c over yesterday. Foreign,
ers were good buyers of cash grain and
we're evidently impressed with the drOuth
in America and in Argentina. Corn was
strong, but advanced only lie to 3-Sc.
Oats closed Use higher. Provisions
were neglected and weak in consequence,
closing DC 20 Zoe lower.
Drouth at home and strong markets
abroad were the influences which were
uppermost in the wheat market when
business began. Buyers took hold with
more confidence. while short sellers, and,
in fact. all kinds of sellers, were in
c,incd 20 he more cautious. Liverpool
cables opcnrd nj an advance of 3-Sd
over night and subsequently advanced TO
Id above yesterdays closing. In the
pit there were buying orders Tor De-
r,mbpr wheat coming direct from Paris,
though the quantity thus bought was
not large enough to attract general at
tcntion. The predictions for continued
fair weather f01. the next thirty-six hours
i'm all of the winter and spring wheat ter
litory was very disappointing to those
who had expected that Yesterday
showers in The northwest would become
beo yicr ard extend down into the win
FOR wheat country. The fact that merit -
western receipts were large was not suit
fcicnt ~ offset tle official weather r.
mort. The wheat arrivals at Minn'u"c-
lis md Duluth were 1863 cars agarSt
1889 cars for the corresponding week
last wear. Chicago receipts were 'ob
cars December. which closed yesferdiry
Mt 80 Csc. opened today at ~ i-Sn3'
1-Sc. with few small lots selling as low
80 80 3-4c. The price soon advanced 70
IN y A., Tho ynpL1y rpDDrtS OF me
Great Northern road confirmed these OF
~ large number of correspondents cover
ing y wide area in the northwest thal
t1c threshing returns were Disappointing
and that previous estimates would Dave
70 be reduced. 4 very sharp sDurt IN
the price ~ Duluth gave color 10 the
stories. Reports of drouth in the Ar
gentine Republic came from various
sources and from the fact that foreign
crs bought rot only wheat. but corn Hnd
rye in this market. and presumably else
where. it looked very much as though
tho European centers were getting
stirred mn again. The market grew
very strong toward the close, the firm
ness of closing cables and the anxiety of
foreigners TO purchase wheat scared the
shorts. who have been having theelr own
way for some time past. December sold
IN TO 81 Csc, finally closing hrm at that
price.
Corn was strong on the continuation
of .he drouth in sympathy with the
strength in wheat and on good general
buving. The volume of business, was
not large during the early hours. but
strong demand develoDed as the sos
sion advanced both from local shorts
and for foreign account. The strength
at Liyerpool also attracted attention.
REGENTS wern 5e6 cars. Atlantic clear
ances were $4,000 bushels December
ranged between % 7-Sc and % 1-2c,
closing lac TO Csc higher. at % 7-Sc.
Offerings were liberal at that figure.
Oats were firm, affected somewhat by
wheat's advance. but also largely by
the drouth There was an advance