The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-03-01
Br.a,l,tufr. and Provi.ton,.

~ BreaustuHa ana ProShtons.i
fCH1CAGo--Wheat again developed
into bull market to-day. Unexpected
strength at Liverpool and a large Wis
Ible decrease were factors in q general
covering by the little shorts which start
ed at the opening and kept UP all day.
The close showed advances OF &c In
May and 1Sc in July. Corn and oats
were also strong and advanced E6kc
respectively. Provisions were irregular,
pork and ribs showing slight losses at
the close. Lard was 4 little lower.
y Wheat was a strong market from the
start. Opening prices In July were
about cent higher than Saturdays
closing, ranging from ;S9AcALto Ss3sc,
while May was kG2c higher at 81 039
l 03A. 4 temporary dip followed
There was good deal OF realizing by
people who were satisfied with the pro-
fits shown In the opening advance and
this selling sent the price Of July to soc
and May to 81 03ss91 OLE. Then the
real strength OF the market was shown.
AS soon as the first pressure OF selling
was removed. prices began to advance
at once. shorts big and little. coming
into the market &c, cover their lines and
for two hours prices moved upwards
slowly but steadily. every slight reac-
ton being followed by renewed buying.
At the end OF that time May. had ad-
vanced to 81 OH and July to 901sc. This
strength was due mostly to news from
that. Market was exceptionally strong,
showing A@s;d advance at 1:S0 p. M.
later cables recording even better
prices. Liverpool stocks showed an
other big decrease and the total amount
OF wheat there Is but little over the av-
erage requirements for u week. The
Letter crowd apparently did very little
during the morning and the strength
the market displayed without support
from that source was far from reassur-
ing to the shorts and probably had q
good deal Of influence. Outside OF the
Liverpool strength, news was OF both
kinds. Northwest receipts were liberal,
Minneapolis and Duluth reporting 3G2
cars, against last week and $3.50 year
ago. Chicago reported 1874 cars, "a OF
which were of contract quality. Worlds
shipments were large, 100000 bushels,
or 100000 bushels more than was es-
tImated week ago. After II o'clock
the market had period OF compara-
tive dizziness, and prices sagged off n
little. May, getting down to sl04Es and
July to S9Sc. The unexpectedly large
decrease In the visible supply, 1,3i5,0o0
bushels and the clearances Of 695,000
bushels, caused renewed covering by
shorts around the noon hour, and many
bulls who sold out their lines during
last weeks decline also bought wheat.
For half an hour the MARKET showed
considerable activity. May advanced to
81 05Ia and July TO 90k before the de-
mand was satisfied. During the last
half hour or so Of trading the market
became quiet again and profit taking
was INDUCED in In sufficient volume 10
send prices down to 81 Ok for May and
S9EGS97sc FOR July by closing time.
Up to noon, the market for corn was
very strong and good advances were
recorded. Tho market was helped bv
the wheat rally, enormous exports,
1,619, 900 bushels and estimates on the
farmers reserve, which was put at
900, DOT, 900 bushels less than year ago.
Buying was in quite general. Late In
the day the market became easier on
heavier estimated receipts for to-mor-
row, but the market was well supports
ed ut the lower figures. May ranged
from 3ONc to 29Nc and closed &c high
er ut SOC.
Oats. though less animated than OF
late, were strong and higher from the
start. The market was mostly In
fhenced by the advance In corn, the
late reaction In that cereal being also
followed by oats. May ranged from
26lsc to 26Bc and closed nc higher at
26Ac.
90 ~ fl..
regular. Early buying by packers and
shorts influenced by the strength OF
grain markets overcame the Influence
OF lower yard prices and the marketru
ed strong and higher for some time.
Offerings gradually became heavy,with
a sharp reaction following, but later In
the day good buying again developed
and pork and ribs were strong. Selling
of lard. however, was on too heavy q
scale for prices TO stand. AZ tho close
May pork wasi5c higher OF $40 40; May
lard PC lower at S. 10. and May ribs
&c higher at IS 12h.
Estimated receipts Tuesday:
~ Wheat, ITO cars: corn, 1864 cars; oats,
420 cars; logs, $1,000 head, 81 81
Cash quotations were as follows.
Flour steady.
wheat-No. . spring 92d9ic: No. 3
spring 93@9Sc; No. red 81 032 6Dl OiT,
Is Corn--No 9, 2S&do9c: No 9 yellow
2sT 020c. "a y
s oats--No. 2, 2Gc: No. 9 white zoe; No,
8 white 2s02Shc. "a
Rye-No. 9 49,,lc.
Barlcy-No. ., 3lniOc.
Flaxsecd--No. j. 81 GIG.
z MISUNDERSTANDING SO 80
tsE MCSq plrk--par I'm rtni ttn MANN &c