Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-03-08
PRODUCE.


IN wheat We're affected to-day by the
CUBAN developments principally, and
CLOSED weak at asc decline for July and
cent lower for May Far OH fu-
lures, however, were strong on Letter
buying and the bad Illinois and Mis-
souri, crop reports. September and
december wheat closed about 15sc
hlgher than their former prices. Corn
Ielt the war scare and declined Nc
oats closed a shade lower. Provisions
were affected by the grain weakness
ana showed closing declines OF from
zee to 15c. A good deal of nervous
ness was shown at the opening in
wheat. The start was lower, July at
9O12Q ssc, showing an additional 40
sc decline, While May was &c lower
at $1.05A.
For the moment traders fell under
the influence Of the grave condition
OF affairs between the United States
and Spain and the big break in the
London and New York stock markets.
The effect of this was in a measure
counteracted by the new complications
between Russia and England and
prices rallied for a few minutes, July
getting up to 903sc and May to $1.06A.
Prospects of war between two foreign
nations almost invariably have a ia
vorable effect on the local wheat mar
ket, and to-day was no exception to
the rule. The selling price, stopped
for the time being, was, however, soon
renewed. The news from Washing
ton was of too grave a character to be
overlooked, and besides this nearly
all the ordinary news of the day was
OF an exceptionally bearish nature
Northwest receipts were very large,
Minneapolis and Duluth reporting $50
cars, compared with 362 last week
and 254 a year ago. The worlds ship
ments were large, amounting to r.
524, bushels, and an increase en- pass
age was reported of 1,6S0,000 bushels.
A significant factor in the worlds Ship
ments was the big Russian movement,
nearly five times in excess of what
they were year ago. Receipts were
105 cars. Letter brokers gave the
market some support at first, but soon
withdrew and the market deprived of
this sustaining feature, slowly declin-
ed and grew quite dull. July finally
sold down to soc and May to S10412.
About midday new feature devel-
oped in the buying by Letter Of the
September and December futures
Shorts hardly understood this at first,
but when buying orders of those de-
liveries were received from st. Louis,
accompanied BIZ reports of very poor
condition of the wheat plant in Hi
nois and Missouri. the crowd came
into the market. For a time Septem-
Der and December prices showed &c
advance and the strength was in a
measure communicated to the nearby
futures, July rallying to 9012c and
May to S10475 The very boldness of
the Letter operations in the face Of
what was considered naturally bear
ish market, startled shorts into cover
ing and gave the market for time a
good deal Of strength. Toward the
close all the futures dropped little
and at the end the market was quite
irregular, July closing SIC lower at
90Ac: May 14c lower at Sl.O4A. Sep
tember and December, on the other
hand, closed about 15sc higher each,
September at 7S%c and December al
TIC.
Corn was fairly active and easy.
The Cuban war news and the weak
ness in wheat induced more or less
liquidation by holders. Scalpers were
the principal buyers, working the mar
ket both ways. Prices tended down
ward until near the close, when COW
ering caused a slight Improvement in
values. May ranged from 3o1sc 70
293lc. and closed &c lower at 1890
soc
Market for oats was slow, with very
little trade; there was a feeling
weaker influenced by the tone OF
other grain markets, but trade was TOO
narrow to admit of any material de-
cline. 1t was merely an unimportant
scalping market May ranged from
267sc to 265sc and closed shade
lower at 1854 a sc. ,
Provisions were weak after a llttle
momentary firmness at the start, caus-
ed bv higher hog process. The IN
fuence of lower stocks and grain
markets was soon shown IN the IN
creased pressure to sell from the out
side and from local holders, and prices
gradually declined. At the INSIDE
prices there was a better demand, prlh-
cipally from shorts, and the close was
steady at some recovery.
MAY pork closed 15s lower at S1o.2o;
MAY lard 21ac lower at $5.l21a, and
May ribs sc lower at $50.
Estimated receipts Thursday:
Wheat. II cars; corn. ITO cars; oats,
200 cars; hogs, $1,000 head.
ASSOCIATED Press Quotattonso
The leading futures ranged as follows:
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