The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-03-22
Bread.lnfr. and Prorl.,eil,.

CHlCAGO--Wlth the exception OF
May. the, closing prices OF wheat to-day
compared with Saturdays closed show
cd very little change. July closed nc
lower. all advances caused by fears OF
frost In the winter wheat region being
lost under late realizing. Letter wns u
buyer OF Niny and that future. was
strong. closing 1Sc higher. Corn was
firm most OF the time but closed Ne
lower. Oats advanced &c. Provisions
We're very dull but the tendency was
toward an Improvement In prices, slight
advances being recorded. 81
Wheat opened with a, continuation Of
the weakness which marked the closing
on Saturday, July starting about &c
lower at "a Y fpSi%c. Perhaps the chief
element OF weakness lay In the large re-
ceipts here and In the narthwest Chi
caBo receipts, estimates OF which weak
ened the market Saturday, far overran
expectations. 309 cars being reported, Of
which number 90 were OF contract grade.
Besides this, g. cars came from the mix
ing houses, a total addition to the con-
tract stocks to-day Of about $4,000
bushels. Minneapolis and Duluth re-
ported arrivals OF 473 cars, against 444
last week and 1874 a year ago. Liverpool
Ing. Worlds shipments were large OF
6,3i4 900 bushels, not Including India.
This was an important factor in the
early weakness. Liquidation which
started at the opening soon stopped.
The weather bureau reported freezing
temperature in the northwest and pre-
dicted cold weather for the west, which,
in,view OF the recent rains and the to-
tally unprotected, fields. aroused good
deal OF apprehension among shorts and
soon turned the market from weakness
to strength. inside OF the first thirty
minutes trading July had advanced to
S51Sc under fairly active buying to cover
short lines A reaction then set In
which carried the price back to S5c. but
support by prominent bull interests
started covering again and for two
hours the market, though quiet, showed
a good deal of strength. May fluctua-
lions were apparently out Of the pale OF
regular market influences. Opening
prices OF that future were y 9fc higher
at 81 03ls oil o.. 1t sold up at~once to
81 05 and did not go below 81 o. again
during the session. Heavy selling by
Letter on Saturday inclined traders to
the belief that he would be a buyer to-,
day and this proved true, for Letter
brokers were consistent buyers all day,
not only OF May but OF July. The an
nouncement that Letter had contracted
for the shipment OF 100000 bushels
more OF his wheat, all rail. to the coast,
and belief In the early opening OF lake
navigation with the moving OF 100000
bushels already loaded in boats. gave
the market q strong undertone during
the period of dullness.
The market continued strong until
within few minutes of the close, when
general realizing set in, many OF the
early buyers d!sposing of their lines.
support In general way was with
drawn. and prices dropped quickly.
July had sold as high as S5A IS53sc. but
1t dropped in few minutes TO S5hc and
closed at S5hGS5Ac May sold as high
as 81 05h and closed at 81 04s.
Corn was steady during most Of the
session. Shorts were the best buyers.
The market was helped by the wheat
strength and liberal clearances. but
weakened on the unexpected increase in
the visible, which brought out consider
able May liquidation. May ranged
from 29A to 2SB&2sc, and closed &c
lower at 29Bc.
Oats were strong and quite a good
business was done. Shorts were good
buyers ana moreover DID ana support
developed. The early advance in
wheat, large clearances and good cash
demand were the factors. The expect
ed cold wave was also an influence. The
market sympathized to some extent
with the late decline in corn and wheat
but closed steady. May ranged from
26A to 25kc, and closed &c higher at
25Ac.
Provisions were slow with prices
most of the session. almost at stand
still. The unsettled conditions at
Washington acted as drag on the
market. Strength in the grain markets
had beneficial effect and later the de-
mand improved somewhat. packers be-
ing the best buyers. and prices adj
vanced. At the close. May pork was &C
higher at So S7iG;; May lard unchanged
at SIS 10 and May ribs 2ikc higher at
S. 07h. tj5s-. &
Estimated receipts Tuesday: Wheat
1883 cars: corn 400 cars: oats 800 cars;
hogs 10000 head.
Tho leading futures ranged MS follows:
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