Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-12-17
PRODUCE.

| Chicago, December l6.-Sharp ad-
vances in foreign markets and con-
tinued reports OF damage to crops in
Argentina made very strong wheat
market to-day, May closing &c higher
than yesterdays final price. Corn and
oats are practically unchanged. Pro-
visions declined about 21zc.
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 1A@Ac over yesterdays clos
ing with May at 671sc. One or two
sales were made at SIC. and then un-
| der large purchases May advanced to
67Ac. All the English markets show
ed sharp advances, Liverpool being up
| sold, and London Id. Hail was re-
| ported to have badly damaged the Ar
gentine crop in some sections. On the
other hand northwest advices were
| rather bearish. Minneapolis and Du-
! luth receipts were 945 cars, compared
| with S57 last week and 635 year ago.
| The northwest sold quite heavily in
this market all Cay and sent predic-
TORS of continued large receipts. Chi
| cago receipts were 113 cars, seven of
! contract grade. California reported
continued rains Of inestimable value
| to the crop. Buying halted to some
| extent after May had reached 67%c
and realizing became quite heavy,
| prices reacting for short time to
671Ac. But before II o'clock the mar
ket was booming again, and this time
| the demand did not let up until near
the close. Late cables showed still
further advances in foreign markets.
The export demand was fair, the sea-
board reporting about forty loads
taken Atlantic port clearances Of
wheat and -four amounted to 100000
bushels Primary receipts aggregated
100000 bushels. The great strength
of the Liverpool market, however, was
the big factor. Trade brOadened out
materially as the session advanced,
and this in itself alarmed the shorts
and caused heavy buying by that class
of traders. Before 1880 the price of
May had risen to $3.50 Previous to
that time realizing had again set in.
Longs with wheat showing good profits
took advantage of the strength OF the
market. Their selling finally became
too heavy for prices to stand up under
and in the last hal hour quotations
broke sharply. May finally sold down
to 67A, closing fairly steady at that
figure.
Corn was strong early with much
buying by outside shorts and local
longs. The boom in wheat was the
principal influence. Gables were
strong and higher and receipts were
moderate, 440 cars, with softer wealth
er in prospect When wheat broke
late in the day, corn became weak,
longs being heavy sellers and new
short lines were also put out. The
market closed rather nervous with
about all the advance lost. May ranged
from 35c to 351ac, and closed shade
higher at S5c.
Oats were rather dull relatively and
price changes narrow. Early there
was fair local and outside investment
buying but the market quickly turned
weak when wheat and corn started to
decline. The cash demand was good,
though shipper were still handicapped
by scarcity of cars. Receipts were 249
cars. May ranged from 26$c to 27c,
and closed unchanged at 26ac.
Provisions were moderately active.
Packers were free sellers all day and
there was another large run OF hogs
AS a result the market in spite OF the
strength of grain was rather week
There was a good deal of profit taking
by longs on all the hard spots. At the
close May pork was 21ac lower at
s9.621h; May lard 212@5c lower at
s5.321s5.35, and May ribs 212c lower
at $4.S212.
Estimated receipts for Saturday:
Wheat, 165 cars; corn, SEQ cars; oats,
$50 cars; hogs, $4,000 head.
The leading futures ranged as follows