Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-03-01
PRODUCE.

Cnlcago, February 2S.-Wheat again
developed into a bull market to-day.
unexpected strength at Liverpool ana
large visible decrease were factors
IN general covering by the little
shorts which started at the opening
ard kept up all day. The close show
ed advances of 21ac in May and l9sc
IN July. Corn and oats were also
strong and advanced so &c resepc-
lively. Provisions were irregular,
pork and ribs showing slight losses at
the close. Lard was a little lower.
Wheat was strong market from
the start. Opening prices in July were
about a cent higher than Saturdays
closing, ranging from seize to o99sc,
Wnlie May was 120Ac higher at Sl.0o
Wl.03A. A temporary dip followed.
There was good deal Of realizing by
people who were satisfied with the
profits shown in the opening advance,
and this selling sent the price of July
TO 89c and May to $1.033s @1.O312.
Then the real strength of the market
was shown. AS soon as the first pres
sure of selling was removed prices be-
gan to advance at once, shorts big ana
little, coming into the market to cover
their lines, and for two hours prices
moved upwards slowly but steadily,
every slight reaction being followed
by renewed buying. At the end OF
that time May had advanced to Sl04M
and July to 90lsc. This strength was
due mostly to news from Liverpool,
| that market being exceptionally
strong, showing A@5sd advance at 30
p. m, later cables recording even bet
| ter prices. Liverpool stocks showed
| another big decrease and the total
amount of wheat there is but little
over the average requirements for
week. The Letter crowd apparently
did very little during the morning,
and the strength the market display
ed without support from that source
was far from reassuring to the shorts,
and probably had a good deal of in
fluence. Outside of the Liverpool
strength, news was of both kinds.
! Northwest receipts were liberal, Min
neapolis and Duluth reporting 362
cars, against 800 last week, and $50
| a year ago. Chicago reporter 1874 cars.
! "a of which were of contract quality.
| Worlds shipments were large, 7,0lO,-
000 bushels, or 80, 000, 0G0 bushels more
| than was estimated a week ago. After
! II o'clock the market had a period Of
comparative dullness and prices sag
( ged off little, May getting down to
| $1041@ and July to $3.50. The unex-
pected large decrease in the visible
! supply, 1,345, 600 bushels, and the
| clearances of $50 1000 bushels, caused
renewed covering by shorts around the
noon hour, and many bull who sold
out their lines during last weeks de-
| cline also bought wheat. For half an
| hour the market showed considerable
/ activity May advanced to $1.0512 and
/ July to 9O15c before the demand was
/ satisfied. During the last half hour
/ or so of trading the market became
! quiet again and profit taking was IN
| du!eed in in sufficient volume to Send
Drices down to $1.04% for May and
| S9s. 61S97sc for July by closing time.
| I'm to neon. the market for corn was
very strong and good advances We're
recorded. The market was helped ny
the wheat rally, enormous exports. l.
$40 900 bushels, and estimates on the
/ farmers reserve, which was put at
| 500 600 900 bushels less than a year
AGO. Buving was quite general.
Late in the day the market became
easier on heavier estimated receipts for
tomorrow, but the market was wen
| sIInported at the lower figures. May
ranged from 3O$sc to 297sc and closed
/ 3sc higher at soc.
oats, though less animated than ol
/ late, were strong and higher from th9
4 start. The market was mostly n
huenced by the advance IN corn inc
| late reaction in that cereal being tlSo
! followed by oats. May ranged rom
26lbc to 261sc, and closed Ac hlgher
at 26Hc. na
provisions were fairly active and
irregular. Early buying by packers
and shorts influenced by the strehstn
of the grain markets, overcame the
infronce of lower yard prices and the
market ruled strong and higher lor
some time. Offerings gradually oe-
came heavy, the market STOOD up MI
der strong reaction following, but
later in the day good buying again de-
veloped and pork and RIBS re
strong Selling of lard, however, was
IN TOO heavy a scale for prices 70
Stand. At the c.ose, May pork vas PC
bieher at slO.4o; May lard 2l23 lower
at s5.15, and May ribs sc hlghef at
s512h. ,o
Wheat 10 cars; corn, I,oo4 cS'A''
oats 42O cars; hogs, $1,000 Fad.
/ associated Press Quotationsl
| Tho leading futures ranged as lollo"S'