The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-01-28
WHEAT SOARING SKYWARD.
Another Rapid Advance Took Place
10 Chicago Wheat.
JANUARY WAS ADVANCED FIVE CENTS
May and July Also Close Higher.
Corn. Onts and Provisions Bct-
ter suropc's Bvllish News.

Chicago. January 1.-THE bulls in whea
today gave another example Of how complete
Iy they are In control OF the Immediate cours
o: that market The Letter party used Janu
tho Price OF that delivery rose TO Los, an ad
vance OF &c since yesterday. Some covering
by shorts resulted IN 2ss@25sc advance Ii
| Mar, while July closed 1Ic higher, with the
largest trade In both futures for some time
Rcaorts that Russia would become an I'M
porter. n big -four business and strong out
| side markets contributed to the strength and
made the advance oasicr. The other markets
were carried upward with wheat, corn and
oats advancing about sc each, while pro-
ve.ons closed 2iAdi7iac higher,
Liverpool once again set the pace for wheat
at the opening. That market was up asIthd
on futures. London was also decidedly bullish
In tone. The British consul at Kicf, South
RnGsia, officially said that Russia would
probably soon have to become an importer of
grain; that the Russian rorts were closing
again, and that a cargo Of Argentine wheat
Tor February shipment had been sold today
AZ Jos I'd per quarter--an advance equivalent
TO Si.n q bushcl IN two weeks Tho Russian
news Ind more eject later in the day than
NJ tho opening which was nevertheless very
strong.
May, which closed yesterday at 9i%, opened
today at 35AQt95is, while July started A0esc
highor at sossMS6. The opening advance en-
opuhieiod very free realizing. some of which
wa wa, credited to letter, but the selling re
I'm Ia ,1.s
w and for two hours a fight was waged
around esh for control nf tho market
Newn mat came In during that time almost
reported heavy demand for -four and tn
coma advised continued shipments of -four
ana wheat to South Africa. Export clearances
amounted to the heavy total of 300 600 bush
elN' Minneapolis and Duluth received 2Si
eaia ,s sg En- so7 the smlae day Of ast week
ioIr. Chicago received Il cars.
Apout midday and after the receipt of
sstionI closing cables the fun commenced. aud
h aiSt, me sensation. Up to that time no
delivery had been heard Of but there was a
aeon selling demand. Local brokers again
1hnGnry-2c above yesterdays closing price
started the shorts to cover In u hurry. and
nc lr,9e o. May advanced almost as fast as
aN1,tcment was Intense aud the hunt for
cover which took place jumped MAY to IN.
= ,ta ., IN the meantime being quoted al
! VIZ me market 'Iiitcd down somewhat
i i9r . time e, but about hair an hour from the
.iose the buying fever asnin broke out MS the |
Jumping OF January was renewed In a very
asngft space o. time January was hid up to
~, My TO g7h and July to S7ik. There me |
llietH hung, with heavy trading At the |
o o!, January was quoted at 1.0f7s MAY al |
9its and July Mt S7ts
-, New YORK message received shortly after |
ne close said Letter had sold 100000 bushels |
u wheat Tor shipment abroad
t,,,u -.
past lhc feeling was quite Arm thro,igboIt |
nr9neipally IN sympathy with wheat thourf, |
M, " me- auvnnce In price took place till
,le hhal bulge In that market Reports of !
market. TUE
There was large trade in oats, sbippipu |
houses ana shorts being sood buyers Realiz
,ns was freely INDUCED IN. but offerings were
prices advanced steadily
:, lh,s trade IN provisions was light. Tho
Closing was hrnl, with May pork re. lard
% ana ribs 2hc higher. 49,
estimated receipts for tomorrow-Wheat u
head. '' "'sS -',"VV
.- Inc leading futures ranged as follows.