New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-19
THE TRADE nv CHICAGO.

Chicago. Nav IS (speciaD.-Not wheat
market anywhere In the world to-day escaped
q decline The foreigners started II. There
was not an exception on this side, ana not eve"
any peculiarly. The seaboard. tho Northwest
.rn the Southwestern and the Chicago prices
slipped of together. The first bear Inspiration
was from Liverpool, wheat there losing "a. 70
3D. Paris and Antwerp were on as much Ber-
lin was very weak on rye. Fine weather and
bearish crop advices finally divided attention
with the lower cables well-known Chicago
operator now in London. e. A. Driver. caoled
his friends hero that any attempt at liqulda-
ton abroad would result in decided decline
Drevfus the Continental bull leader all winter.
sent bearish advces. but he was buyer OF
September The corn trade news cabled that
Russian. Rumanian. Bulgarian and Italian crop
prospects we're favorable. and that the Liver
pool weakness was partly due to Continental
selling There was report about noon that
rn1lls. the crop expert estimated the wheat
possibilities az high as 900 OOO, 600 bushels. 1t
was said he stated this In conversation. The
figures seemed preposteroIs. and were not con-
nrnoed. but they had the effect Of attracting
general attention TO the splendid growing pros
meets and to the further fact that experts gen.
orally looked for the biggest wheat yield on
record Wheat receipts were not as large as
they have been running-251 cars here. with
2S5 for Thursday. The Northwest had 0O4 cars.
compared with 421 last Wednesday and SOB
last year At primary points there were $780,
600 bushels compared with 81 900 a year ago.
Seaboard ciearances were 10000 bushels. The
speculative trade In wheat was light. every
body fearing liquidation, although the general
sentiment is bearish II 10 known there Is
great bull combination OF wheat operators
Letter Plllsbury and Peavey. Letter Is long
the May wheat here. and owns a great deal OF
cash In the Northwest. The three together
are supposed to be bulls on the July at Mime.
apolis and Duluth. Letter says that he is soon
to ship a million bushels from Duluth. and
Pillsbury and Letter together will ship about a
million bushels out Of Minneapolis. II July
prices at Minneapolis and Duluth are kept at
an extraordinary level. the July shorts here
may receive severe punishment While the
present weather Is perfect for winter wheat
Il IL possibly not the sort for an early harvest.
May wheat here sold at 81 so to-day, and at
81 40. and closed at 81 40 July opened at 81 on,
sold between 81 OH and 81 05 and closed at
81 05H. September opened at sou cents. sold
between S9Ss and So cents and closed at SOL
cents II was ssh cents on the curb
Corn lost cent and closed at the bottom.
July opened at 35% cents. sold between 36k
and 35M cents and closed at 35Is cents Tenn
peratures West were considerably higher That
was one Of the bear influences on corn There
was too much rain. but It more than Of
set by the milder temperature. The weekly
crop bulletins were more favorable than antici-
pated. Shippers said the demand was poor:
that foreigners were filed up, and that bids
were out Of line. Liverpool was Nd to I'd.
lower. Seaboard said that the export buying
was played out: that the foreigners had over
bought themselves. Elevator people started the
selling. For q while there was pretty good
buying by the bull crowd some replacing OF
corn which had been sold out the day before
In the last hour there a good deal Of stop
loss selling Receipts were 533 cars. with $50
for Thursday. Clearances were T25 900 bushels
Bartlett Frazier. Armour and Patten were the
best sellers. New-York was a seller here final
ly Charters were 5000 bushels The Trego-
Smith long line went over to-day.
Oats werc steady. May closing at 80 cents.
which was u cent over Tuesday: July at goo
26M cents. which was "A cent under Tuesday. |
The trade was slow. Shipping bids were a little
els making I. $50, 900 bushels In three days Re- |
ceipts were 2O4 cars: the estimates for Thurs |
day. 800 cars.
Provisions were a puzzle. There were enor- |
nous hog receipts $1,000. with $4,000 estimated
for Thursday. Prices at the yards were IS to |
20 cents lower. At the Western points |
there were 121.0 900 hogs. compared with 10000
last year Everybody expected a demoralized
provision market There was merely a little dip
early Last prices were somewhat over Tues
days all round-pork 10 cents over, lard ) cents
over. ribs cents over Packers were on both
sides Of the market. The Cudahys apparently
were sellers There was not big trade. The
Iurprising circumstance Vas that there was no