Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-01-29
PRODUCE.

Chicago, January 2S.-Whaat, to-
day made the best prices on this crop
for cash, January option being bid up
TO $1.10 and closing at S1.0S The top
price was cent above the highest fig
ure reached during the recent bulge
in December May sold up to $3.50
after weak opening, but closed I'M
changed. Heavy Argentine shipments
were against the market at first, but
later stronger news and the pushing
by the Letter people sent prices soar
ing. Corn and oats followed wheat
and closed unchanged. Provisions de-
clined 21a@5c.
1t looked at the opening in wheat as
if the long-looked-for reaction was
about to take place. For the first time
in two weeks news really favored the
bears and decline in prices at once
ensued. May, which closed yesterday
at 971s @97Ac, opened to-day at 96A
096Ssc, and July, in which option,
however, there was not much trading,
opened A61c lower, at S6@S6Ac.
There was plenty of selling at those
figures by heavy holders, and May was
down to 96c and July to S5Bc before
any support of consequence material
lied. The longs were staggered by
weakness at Liverpool. The market
opened %@1Ad higher, but a large
slice of this advance had been lost
when L. 80 p. m. cables came in This
weakness was explained by the Argen-
tine shipments for the week, 1000
bushels. This was more than twice as
much as during the previous week.
Northwest receipts, too. were liberal.
Minneapolis and Duluth reported 1894
cars, against 35S last week, and 1914 a
year ago. The impression caused by
the Argentine shipments and the Liv-
erpOol decline lasted about half an
hour, when a covering movement re
suited in an advance in May to 97c,
when another spell of unloading car
ried the price back to 96Ac. The mar
ket gradually recover and held firm
but dull at about $3.50 for some time.
After midday the market began to de-
velop some Of the bull snap Of yester-
day. The principal reason for the re-
newal Of bullish energy was the
strength shown by Antwerp when that
market was heard from. 1t showed
an advance equal to 21ac per bushel
for American red and nc for Walla
Walla. Paris was also higher by about
&c. The next was the very heavy
clearances of wheat and -four for the
day from Atlantic ports. The latter
amounted to 100000 bushels inclusive
of 60,7S0 barrels of flour from Newport
News. The strength thus developed in
May Bids for that delivery brought
few responses and prices slowly climb
ed until one of the Letter brokers
commenced bidding for January in an
attempt to buy 10000 bushels. He sue
ceeded in getting but 10000 bushels of
this amount, the price in the meantime
jumping with its usual rapidity to
S1.10, the highest point yet reached for
This seasons crop. This also created
an active demand for the May from all
quarters and the price scared to $3.50.
At the top price immense quantities
were offered which the crowd took
eagerly for time but about ten min
utes from the close the market broke
uzSer the pressure. May dropped to
$3.50 and January to $1.0S. That was
the closing price for January. May
closed at 971sc and July at S6%c.
Corn was easier with wheat at the
start anu dSdih SticilS " MN ehN iottSi
showed its midday bullishness. Trad
ing was of moderate volume, st. Louis
and shorts leading the buying. There
was considerable realizing during the
m }rning. May ranged from 297sc to
29asc and closed shade lower at 295s
@29Ac.
Oats we're quite active. There was
heavy buying by shipping and com
mission houses, the selling being prih-
cipally by elevator interests and
longs" The export demand was very
urgent and this and wheat were the
controlling influences. May ranged
from 241bc to 24c. and closed shade
higher at 24A @24ssc.
Provisions were fairly active early
but became dull later in the session.
Heavy hog receipts and the weakness
in wheat started the market easy at
small declines. These were speedily
recovered under good support, al OF
ferings being readily absorbed ana the
market ruled steady until near the
close when the reaction in wheat was
reflected in provisions and some de-
cline cnsued. At the close May pork
l. oC