The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-05-27
GRAIN AND PROVISIONS.
The Wheat Market Broke Ava,
from Letters Grip.
The ACTUAL TRADING WAS LIMITED
Texas Offerings of New wheat
Conducive to Lower Prices.

Chicago. May 2s,--Despte Mr.. Letters ei-
forts the wheat market broke away from him
today as far as July. september and later fu.
lures were concerned. July shows q decline OF
PA anf September Is off 2ia. Corn Is down
igiis and oats asais. Pork and ribs are
lower and lard 81.
| There was good deal OF excitement In
wheat. but the actual trading was somewhat
| limited. The sentiment OF the crowd was I'M
| qucstlonably bearish but the position of Letter
and tho danger OF bull manipulating held the
selling Impulse In check and as result bust
moss WAS light In volume. Letter took hold OF
tho buying side at the start moro especially
OF May and July, bidding the former MP to
Ia and the latter TO 1.1iis. This made the
shorts in September and December somewhat
fearful that the prices for these months might
advance in sympathy, and there was an effort
to cover which sent September up to 80.
La.cr, however, the buying operations OF
Letter were perceptby lesscned and with the
loss Of the support and unfavorablo cables
the malkets turned weak, and the bears began
70 snow courage and acted on these quota
tiops. Near the close the market became
heavy on far off futures July got much too
heavy FOR the lifting power which letter cx-
from the melting around 1t OF September and
lIc,rmhcr prices that 1t went down In the
Uolre.
Texas was said to be offering new wheat
quite freely for carly June shipment The
great oNershadowlnK fact kept in mind by tho
rbderc was the magnificent crops OF the
%o.id. moro moro especially east Of the Rockies
IA the United States ana Canada Otherwise
sentiment would apparently have been all that
ths most ardent bull could desire
lhs receipts at Minneapolis and Duluth
ana az the rrico Of cash wheat in those mar
kctf today was from l.55 to i.5S, It is cyi-
unn, mat whent IN first hands in the North
west n about exhausted In fact the larger
part OF the Minneapolis receipts arc now said
~ come from the Southwest.
tnNago receipts were ga cars, iil OF which
were contract The receints a year ago were
4 cars Exports from the Atlantic scarorls
els '"'''
July opened Ga to IA higher at Az. sold
M =, declined to l0gia and rallied to 1 10
asked at tho close September started y
lover az S'9inSs advanced to so, sold Off to
~ ana rose 10 S6hmS6as the closing figure
May ranged between / "a and + Is
Ihn hull support steuded corn for 4 while
oui This was offset by the lack of shipplnE
Hehlatd and the general belief in the theory
mat the chances for tho next crop have not
bren as yet ieopardizcd In any degree nv
backward weather. The break In wheat also
catiiod down corn Receipts rs cars July
onened ! lower, sold mp TO 3ih@3i's back to
33AW33la at the close
mere was good cash demand IN oats to-
Gay ana prices ruled higher til the break in
corr Receipts 2s6 cars. July opened e lower
~ @'siuNfN, advanced stoadiy to 25n25is
MN tell off to 9ii at the close
EailN In the session provisions were firm
and Mt decidedly better prices They finally
yielded some with grain, Lard was firm
comparatively. Tho crowd thought there
would be more buying Hogs higher July
advanced rapidly to 1906, dropped to ii T2i,
ma rosG to ll.Tis bid AT the close July lard
s'di'cu better at $50, advanced to- G.3gt. fell
n".R 10 so and AT the close was uuofed M
e's@,.' July ribs 2l9 higher at tho opening at
~ rose to 6.O2ia and declined to $50 the
final quotation ''''
oats, ilh, corn. 100 cars, and hogs, % ooo
heat "'e'' -''oV'
The leading futures ranged ne follow..