The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-12-17

cHICAGo-sharp advances in foreign
markets and continued reports of dam
age to crops In Argentina made a very
strong wheat market to-day, May clos.
ing Nc higher than yesterdays final
price. Corn and oats are practically
unchanged. Provisions declined about
9iac -
Wheat opened very lively and buoy
ant, Buyers and sellers were both very
numerous, but the confidence Of buyers
was the more evident. Prices started
h6Ac over yesterdays closing VITA
May at 67lsc. ono or two sales were
mad. at &C, and then under large pur-
chases May advanced TO 6I%c. All the
English markets showed sharp ad-
vances. Liverpool being up &gld ana
London Id. Hail was reported TO have
badly damaged the Argentine crop IN
come sections. On the other hand
northwest adVlces were rather bearish.
Minneapolis and Duluth receipts were
az cars. comnared with $50 last week
and 6s5 a year ago. The northwest sold
quite heavily In this market all dtv
ma sent predictions OF continued large
receipts. Chicago receipts were llS
cars, seven OF contract grade. Califor-
MIA reported continued rains OF tnesti.
mable value to the crop. Buying halted
TO some extent after May had reached
67Rc and realizing became quite heavy,
prices reacting for short time to 6f3Ec'
But before II o'clock the market was
booming again, and this time the de-
mand did not let up until near the close.
Late cables showed still further ad-
Vances in foreiEn markets. The export
demand wns fair, the seaboard report
ing about forty loads taken. Atlantic
port clearances OF wheat and -four
amounted to I07 900 bushels. Primary
receIpts aggregated 100000 bushels.
The great strength OF the Liverpool
market. Id vever, was the big factor.
Trade bro6dened out materially as the
session advanced and this in tseh
alarmed the shorts and caused heavy
buying by that class OF traders. Before
1890 the price OF May had risen 10 6S9sc.
Previous to that time realizing had
again set In. Longs with wheat show
Ing good profits took advantage OF the
atrength OF the market. Their selling
finally became too heavy for prices 70
stand up under, and in the last hatt
hour quotations broke sharply. May
finally sold down 20 6lAc, closing fair-
ly steady at that figure.
Corn was strong early with mucn
buying by outside shorts and local
longs. The boom In wheat was the
principal influence. Gables were strong
and higher and receipts were moderate
IIO cars. with softer weather In pros
pcct. When wheat broke late IN the
dav, corn became weak. ionss being
heavy sellers and new short lines we're
also POT out. The market closed rather
nervous with about all the advance lost:
MAY rlnued from 95c 20 35lsc and closed
a shade higher at 3jc.
oats were rather dull relatively and
prlccs changes narrow. early there was
n fair Iocal and outside investment buy
Ing. but the market dulcklB turned
veal, when wheat and corn started to
decline. The cash demand was good,
though shippers were stlll handicapped
bv scarcity Of cars, Receipts were 219
cars. Receipts vera 30 cars M'y rang
cd from 9G&c 10 &c and closed un-
changed nj s6Nc.
provisions were moderately active.
Packers were free sellers oil daV and