New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-29
THE TRADE IN CHICAGO.

Chicago. April % (SpeciaD.-An astonishing
wheat advance In Liverpool equal to about 10
cents a bushe, on nearby futures over night.
started this market excitedy Crop news. how
ever. was favora bic. and the inclination here
was TO take profits. The fact that fluctuations
were so wild limited the speculation. First
prices proved the best Of the day. the July up
3I cents over Wednesday. II opened from 81
to % cents. sold between % and % cents. and
closed at 951a cents. The close was only u cent
over the night before The September did not
do as well that. selling al S41s and at S212
cents. and closing at S23s cents. There was
little more trade in May, the range being from
81 24iA TO 81 81 and the close at 81 22l2. Com
pared with the Liverpool advance. nothing cut
much figure The explanations OF the English
excitement were various. Some said American
shorts were covering Another explanation was
fear Of actual wheat scarcity low grades being
In sharp demand as the contract. SO far as the
English market was concerned IL was evidently
a combination Of war. scarcity and shorts. The
Northwestern markets did not respond 10 the
Liverpool as much as this. Minneapolis closed
where It did Wednesday night; Duluth y cent
lower St. Louis sold out wheat bought Wednes-
day. Local professionals were sellers Of July.
In word holders were inclined to take profits
to-day. and bears were inclined 10 risk new
selling campaign. Seaboard clearances were
GSS 600 bushels. The crop news. except from
California, was bearish. The Price Current"
predicted an increase OF 10 per cent in the spring
wheat area Western receipts were large. 49,
900 bushels az primary points. against $4,000
bushels last year; 1893 cars In the Northwest,
against 800 cars. In two days there has been
over 100000 bushels contract wheat in some
IA liberal tribltiOn from
the mixers Just at the close to-day an Argen-
tine cable raised It's exportable wheat surplus
estimate 100000 bushels. Liverpool had re-
ports OF Russian crop damage. Italy made a
further extension OF the period OF the reduced
wheat tariff Liverpool in two days has made
an advance OF "a cents a bushei on spot and
May.
Corn opened at an advance chiefly IN sym
pathy with the wheat strength. The opening
prices which were %G1A cents Wednesday.
were the best for the day. July sold at 35%
cents and at BAN cents and closed at BAN cents.
Liverpool was UP 1G2d The other side took
about a million corn here The country onered
freely however Receipts were liberal. 492 cars.
with $50 estimated for Friday. There was some
influential local short selling. New-York reported
over 1870 loads for export and the seaboard Tor
! O fortnight has reported It's export business at
an average OF over 100000 bushels daily.
There was seasonable weather West; seaboard
clearances were 6S3 0OO bushels. The influential
selling was by Bryant and by Champlin: the
buytng was by Patten and by Bartlett Frazier
some OF II against export sales
Oats were up q cent for May and Y cent FOR
July. The close Arm. May sold at 70 cents
and at 29L. cents. and closed at 29ia cents
New-York led the buying. Export sales OF oats
from here were about 100000 bushels Receipts
were 300 cars with 400 estimated for Friday.
Provisions opened higher; the close showed all
the strength lost. The early strength was with
wheat; the closing decline was on very free sell
| ing by packers Pork closed Is cents under
Wednesday; lard and ribs TO ~ cents under
Hog receipts were large. $4,000. with 29ooo for
Friday The cash demand keeps good Packers
are selling because hogs show proht
On the curb puts on July wheat closed al VI q
cents: calls at 977s cents. Puts on July corn,
34n cents: calls 35>s cents.