The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-06-01

CHICAGO-To-day' session saw the
close OF perhaps the greatest wheat deal
In the annals Of the grain business. The
May option, which left off Saturday at
81 &c, ranged to-day between 81 40 and
81 20, closing at the lower figure, q loss
OF soc per bushel. The slump in May,
coupled with the bearish statistics,
enormous worlds shipments and bright
crop prospects, caused severe decline
of the deferred futures in wheat. At
the close July showed loss Of 6G61sc
and September 2G21sc. Corn was sc
and oats,lc higher. Pork is up 21sc,
lard 10c and ribs TIC. -sl n,
The demand In the wheat pit to-day
was from shorts who took advantage Of
the break 10 buy in and secure profits.
July had q sensational decline during
which some longs sold out. 1t started
at from 81 Oh to 81 o. and was offered
down from 81 OF, half a cent at each
trade, until it had dropped to 9ilsc. 1t
recovered q portion of the decline later
with little help from Letter. May.
which closed Saturday at 81 20, opened
ut 81 40 and quickly dropped to 81 Is In
the first few minutes. The evident In
tention was to make q price for the
heavy receipts that were offered in the
sample market. The trade was con-
fined to Letter brokers, who were both
buyers and sellers and made what price
they chose. A well-known statistician
estimated the wheat crop of Texas,
Oklahoma and Kansas at 100,000000
bushels, as against S5,OO0.00O bushels last
year. The crop news at home and
abroad could hardly have been more
bearish. The worlds shipments last
week were enormous, showing that
wheat was being pressed for sale the
world over. The Indian movement was
a surprise. that country having shipped
about 5000, 900 bushels, and Russia. put
afloat moro than America The visible
supply increased nearly 100000 bushels
where q small decrease was expected.
Chicago received 65S cars, OF which 404
were contract, while Minneapolis and
Duluth got 995 cars. Exports from At
lentic ports in wheat md flour were
equal to 100000 bushels. July opened
2tsc lower at 81 0191 02. fell to sac and
rallied TO 97k9eSc at the close. Sep
TENDER started 21kc of at S1S @S2c, adj
frmed up to S1B4SlAc, the last quota
ton.
There was quick dip In corn at the
Slui Va ithA Sc ASNGiplo uiid tHC
break. 1t rallied very soon, however. on
good buying and wet weather reports.
July started k@Hc lower ut 321 @32lhc,
sold up steadily to 33ssc asked as the
final quotation.
Only a moderately large business was
transacted In oats. Prices followed
corn. July opened sc lower at 23Y4
23;sc, sold up to 24kc, declined to 23Xc,
then rose to 24S I24,tssc at the close.
The firmness in provisions was largely
ascribed to the signing of the reciprocity
treaty with France. The treaty cuts the
French meat tariff in two and reduces
the tax on lard a third. July'pork open
ed 2ik@7Rc higher at 81 5O911 Is, sold
up to s11 621Is, declined to s11 421ls, then
rose. to S11 so and at the close was quo
ted mt that figure July lard started TIC
higher at SC 20, up to Sc q, down, to
SC liz and closed ct Sc %. July ribs
ranged from S. 90 to IS 81 and closed ut
IS 9211s.
Estimated receipts for tomorrow:
Wheat 2i5 cars; corn 900 cars; oats 3S5
cars: hogs $4,000 head. ti
The leading futures ranged as follows: