The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-06-08

Observation-Disclosures by longs,
sharp break in the Liverpool market
and excellent crop conditions caused
depression In wheat to-day. July closed
with loss sof &c and September kQ&c.
Corn gained 1sc. Oats lost &c. Pork
left off 15c lower. Lard and ribs are
down Sc and 21sc respectively.
The Liverpool market. which has
been steadily declining for several days,
was especially demoralIzed to-day, and
reported drop equal to SIC per bushel
In July and NC In September, with
the continental cables also lower. The
crop outlook continued all that could
be desired. with the grain In large areas
ready for the reaper. The Kansas re-
port for. June shows the condition 103-
the highest ever reported at this sea-
son OF the year. The report sat at
rest the rumors about chinch bugs and
rust. As q result longs quickly began
to llquidate. There was urgent short
selling. sales OF stop loss orders and
on exhausted margins. Under the pres
sure the market went off rapidly The
rally which followed was due chiefly
to the fact that many shorts were dis
posed to take advantage of the break
" ocCuIc HIS CluSS Vi pui
was sufficient In volume to cause q
temporary reaction.
Chicago. received 40 cars, against Is
cars year ago. Minneapolis and Du-..
luth 116 cars, compared with 2l2 cars
the year before. The Atlantic port e1-
ports were estonishinyly heavy,
amounting In wheat and flour to about
/ 10000 bushels The figures gave the
divrp, ral l,,1t haa ~ % al
on some wheat. and caused many
shorts to get out, and be In position
to contemplate the situation phllosoph-
Ically for awhile. The total stocks in
the worlds visible supply. as compared
by Chicago daily trade bulletins and
Liverpool corn trade news. Is 100, 000, 900
bushels, against lO70O0,OOO bushels q
year ago.
While the crowd was battling over
the small domestic receipts, on the one
hand and the btarish figures connected
with the worlds stocks on the other.
a heavy thunder storm broke over the
board Of trade building that settled the
fight. The shorts rushed 10 get their
wheat in out of the wet. and the mar
ket became quite strong. July opened
2HQ2&c lower at s5IsQS6c, sold up 70
S6kc. down to S5iSc. up again to S7Nc,
then fell of to S6isc at the close Sep
TENDER started 1Gl1Ac down at TAX d75c,
advanced to 75S@75hc. down to 75c,
rose TO f6AQ76Sc, then fell off TO 75A
@75kc, the closing figure.
After weak opening corn became
strong on unfaIorable crop reports
from Kansas. There's was no export
demand. however. This. together with
the decline In wheat, caused a decline
In prices near the close. July began
AGhc lower at BIZ 931%c, sold up to
3lNc. declined to 3lRc. advanced to
32b G32Ac. then fell OF at the close to
BIZ @31&c
Selling orders predominated in oats
at the opening. Later. however, buyers
took hold, and the market steadily ad-
vanced. until gain OF &c over yester-
days close was made. A slight reaction
took place at July. July opened %G%c
lower at 22ksdp23c. sold up TO 237sc, down
to 2.ihc, up to 22hc. then reacted to 23c
at the close.
Heavy grain markets at lower prices
for live hogs weakened provisions. One
or two heavy selling orders were on the
market. but ut the decline In prices
there were plenty of buyers. July pork
opened 1T5sG25c lower at $40 .10910 II,
advanced to $40 27. declined to $40 10,
and rose TO $40 20 at the close. The
range OF values In lard and ribs were
inconsequential. 5Et
Estimated receipts for tomorrow:
Wheat. 40 cars; corn, ESQ cars: oats,
100 cars: hogs. 10000 head.
The leading futures ranged as follows: