The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-02-02
WHEAT WAS a SURPRISE.
Decline Expected, but an Advance
Was Recorded.
THE LIVERPOOL NEWS WAS BUlLISn.
Dradstreecs visible WINS the RE-
verse OF what Had been Expected
In All Grain Markets.

Chicago February Ian unexpected reac-
ton In wheat took place today. Early every
trader on tho floor was expecting decline,
but the sensational reduction in Liverpool
stocks md q sharp advance In prices there
after weak opening illustrated the unccr-
and keeping then there. Corn ana oats we g
/ dull ana show but little change In values.
4 Provisions declined 2ia6il0c.
Tho opening In wheat furnished genuine
surprise to the traders. II was generally be-
| licsed TINT, following the liquidation OF last
week and tho closing out OF long lines by
! mary OF the important bulls. the market was
In for Il period OF reaction come traders even
picdit ting 20 for May again. News from Liv-
| efpool. however, completely upset these cal
| cJlaticns md caused generally skurrying OF
| Bhcrts to cover. May, which closed ycster-
duy at 947s. opened today at 95lsM95%. with
| yetw llttlo offering even ut those hgurcs. SO
active was the competition for an hour that
gGas was paid before enough wheat was forth
coming TO check the enthusiasm OF buyers.
Liverpool opened ssd1lsd lower. responding
well TO yesterdays decline here but by 2:30
y M. showed complete reversal OF prices. at
tnht cmc being hGt3sd over yesterdays prices
The SENSATION OF the days news was the de-
crease for January OF l,2is,000 bushels In the
stcckJ ut Liverpool The stocks there now
amount 70 l,h2I,0o0 bushels. or only two weeks
nrmfriy. TINS was what started the buying.
Ihe market was further strengthened by New
York adyices of good foreign buying Of wheat
futures.
Minneapolis anil Duluth received $40 cars.
cago received ~ cars.
Following he advance TO at5s came slight
Ieacticn. Realizing sales caused a temporary
decline to s5%, but the Liverpool news was
TOO strofiS to DO so easily disposed OF and the
oiler'ngs were quickly, nosorbed Then prices
shot W again. and this time May advanced (
70 hitt before stopping Then II slowly de- I
ctincd, hut no real weakness developed.
Bradsireet's visible was posted In the after !
noon. This showed an increase OF 900 BUSH
els and was distinctly Disappointing, as a de- 1
crease had been hooked for.
Llscrrool closed 3su5sd higher but CONT
hehtal enbIes were rather weak and that I'm
connection with Bradstrcet's report turned
the market weak in the last hour May fell
% W., but IN the last few minutes trading
" Tililed again and closed steady at 95Js ff96
ihefu was fair trade in corn at n narrow
range OF prices. The market was inclined TO
sympathize with wheat at first, but the gov
.rhnlcnt crop hgures--1, 903, 900 0D0-put /
l;ain,Iet on buying later and dissipated this
slight advance. $3.50
The feature in oats was the government
ron report. but 1t had a different effect from
hpt u corn The figures eos, 76S 900 bushels
eu 22,Op, 600 bushels short of estimates.
Sriees ruled firm at slight advance.
WIZ tho exception of short period of
lepuiness after the opening, the market Tor
'ioNlsions was weak At the close NAV pork
vas ~ May lard and ribs each &c lower.
estimated receipts for tomorrow-Nheat ~
,cnd. $3.50 -'s' 'o'VVV
Inc leading futures ranged as follows.