The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-03-19
HEAVY BUYING in WHEAT.
Reports If Cold Weather 10 the
Northwest Have Effect.
The MARKET STRONG THROUGHOUT
May ana JnIy options Both Close At
nm Advance CALIFORNIA; Reports
Rather Gloomy.

Chicago. March is.--The reports Of the cold
weather III tho Northwest brought an end to
the long spell Of weakness III wheat and
caused heavy buying both In May and July,
| The nnr,et was strong throughout, May clos
ling Ikc higher and July i,.diNc higher. Tho
same influence ruled in the conrser grain mar
kets. corn and oats advancing Nc each. Pro-
visions were very dull and irclined to weak
ness. though price changes we're small.
Wheat started firm, July isu higher at s5is1
ls5A and May W higher at iOiia 1t wns
raining IN the West-in Itself n depressing
fenture-but freezing weather was reported
IN the Northwest and there was a great deal
OF apprehension Of frost extending over the
water-soaked wheat fields. Possible damage
from this source did rot at first result In q
great increase Ia the buying demand, but it
stopped the selling pressure and shorts anx-
ious to cover found II necessary to advance
their bids materially before securing the de-
sired wheat Inside OF forty-five minutes
trading In July was balanced TO S5A4 Then
realizing by stalpersscaised a reaction to S5ss,
where the market hung for short time. Az
ter that the market gradually became strong
err and trade broadened out considerably.
Late advices from Liverpool showed sharp
ADVANCES IN both near and deferred futures.
California sent quite gloomy crop reports, pre-
dlctlons being made that the crop. on account
Of the drou'h. would not exceed 10000. 600.
TIM. these reports were taken seriously in
California was evidenced by the rumor of
coveitng orders both for Mny and July con-
trncts but especially for the former. which
WEIR. received from that source. Private adj
vices from the Northwest said stocks there
were not nearly what were expected.
| RcrGrts from the Northwest show falling
on IN Minneapolis aud Duluth receipts, These
| two cities reported I45 cars today. against $50
I IlG 1 Rul ann
/ cetpts were los cars, 80 of which were OF
contract grade. The total addition to con-
tract stocks was $4,000 bushels. private
houses contributing Is cars and 10. 500 bushels
4 Tho seaboarh adviccs wete Of bullish char
actrr nm improved foreign demand at better
4 prices being reported.
The demand Tor July became general about
the middle OF the session, Outsiders came
into the market IN greater numbers, while
local shorts were heavy buyers The price of
| short spell of realizing caused reaction to
SjA, hut toward the end Of the session buying
again became heavy ami rriccs advanced 1nu
4 market ruled strong 10 the close. July adj
| 500
Quite a large trade was done IN May. Cali
fornia shorts were especially good buyers. Lo-
/ cal traders who have been heavy sellers Of
| that delivery lately also brot ght back some
Of their lines Letters brokers wcrn free sell
efs. hut the market was strong enough to abb
serb everything offered. and piobably 100000
bushels were dapostd OF by the Letter people
mt riices around s5is. May sold as high as
/ !. &c and closed ut / u5si
/ Corn was strong thoNgn not very active
| Less favorable weather conditions and the
strength Of wheat made q better demand cs-
Ipcpally from local Shorts aud several iln-
pofihrt lines wcre covered. Country offerings
4 were small.
| Oats we're faily actlve ana stronger In SYM
! pathy with other grains and on the Lnrnvur-
/ able weather. 'rha pressure to sell, with fair
demand by the shorts, CAUSED prices to re-
main frni
Provisions were very duh and on tho whole
OF any declines. Al the close May pork was
&c lower, lard and ribs unchanged,
| Estimated receipts for tomorrow Wheat 40
cars, corn 30 cars. oats 1880 cars, hogs 1,VoO
| heat
The leading futures ranged as follows;