Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-04-05
PRODUCE.

Chicago, April 4.-Bearish statistics
ana favorable reports on the growing
wheat crop were offset to-day in that
market, by belief that the present May
corner was proving a success and fear
that corner in July was in process
of formation. July closed a cent high
er and May Ac high in consequence
Other markets We're strong, partly
with wheat, corn and oats advancing
SAKE each and provisions closing 10
Q221ac higher.
Wheat started at an advance of Il q
&c for July at 84150S45sc. After
few moments Of hesitation, during
which time the price touched S43sc,
the market assumed a decidedly bull
ish aspect and under active general
buying July was pushed up steadily
to S55s GS5%c, the price being reached
before the end of the first hours trad
ing. Buyers and sellers were quite
equally divided at first. Worlds ship
ments were large, even without India
being put at 7623,0C0 bushels. The
Orange Judd Farmer crop report on
the condition put the average at SOC.
This was not bearish as expected but
as the average was the highest in sew
en- years it had it's effect Northwest
receipts were fairly liberal. 1851 cars
against 326 last week and 240 a year
ago. Chicago receipts were 60 cars.
There was another large addition to
the contract stocks to-day, 81 cars
coming from regular sources while
milling houses contributed 81 cars and
SO, 900 bushels, total of about 16S, 900
bushels. On the other hand. Liverpool
was half pence higher for spot heat,
though futures were irregular The
strength shown by stocks was the real
incentive for the early buying by the
crowd. Then another factor was de-
veloped. Heavy buying of late which
has been credited by some to Armour
was continued to-day and strength
ened the belief that corner in July.
similar TO the one in May, was in
process of formation The belief in
this was general enough to scare
shorts. who made a concerted rush to
cover when what was supposed to be
Armour buying was renewed Offerings
were much too limited for this de-
mand and the advance to S5%@S5&c
resulted.
A marked reaction then followed
India shipments rather staggered the
bulls, exports from that country being
placed at about 100000 bushels. An
other big surprise was the increase of
162.C0G bushels in the visible The
trade had been led to expect decrease
of about 100000 bushels. Quite free
realizing took place the price being
forced off TO S5c. Here the market
turned again and the highest prices of
the day were reached about noon, July
getting up TO S57sc.. Letter reported
further cash sales of about 100000
bushels. Atlantic clearances amount
ed TO SAG. $50 bushels. The firmness
of the continental and Liverpool mar
kets at the close also had good eff
feet. Liverpool being 1aG11ac up on
spot wheat with future 1sG 5sd high
er. Paris was up 500 confines and
Antwerp 31a@5 centimes higher. Late
in the day another spell of realizing
caused reaction in July TO SoAc,
that price being reached near the close.
July closed at ssh q $3.50.
Corn was influenced mainly by the
action of wheat Trading was quite
active early with doubling up on some
important long lines and prices adj
vanced materially. There also was IN
urgent demand from shorts. Clear
ances were heavy and local receipts
light. Realizing later caused some re-
cession. but the market closed hrm
Nav ranged from 29s4 a 2S1sc to 2sas@
and closed lsdAc higher at 2s7sc
Oats were firm but very inactive,
hardly anything more than little
scalping and changing trade. Light
receipts and the strength of wheat
were the influences. May ranged from
255sc to 25ssc and closed 1sdH high
er at 251ac.