The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-02-24


cH1cAGo-Wheat was heavy oil day
and at the close showed declines OF &c
in the May option and lBc in July. The
market was affected principally by the
decline in the English markets. The
disposition among wheat traders to
leave that market for the coarser grain
pits caused a decided decrease in the
volume Of wheat trading. Corn was
very heavy and declined nc. Oats
were firm after early weakness and
closed shade higher. Provisions were
irregular. Pork declined 17kc, while
lard and ribs did not change much.
AL the flrmness which characterized
Mondays wheat market had apparent
~ deserted the pit at the opening OF
trade to-day. The starting price for
May ranged all the way from 81 e6A
down to 81 0o2. as compared with Mon
days closing price Of 81 06E. while July,
In which the most trading was done
throughout the session, opened at from
918c TO 9lhc. a decline Of %@1c. May
touched u % before 1t was sufficiently
supported to bring about q recovery
Commission houses were the best SELL
ers at the opening. brokers for Letter
being credited with some Of the Offer
ings OF May. The opening weakness
was due apparently to the decline at
Liverpool. That market was from I'D
to ~ lower, and London also showed
weakness. News which followed.
though OF q mixed character, favored
the bulls as a whole, and for time the
market took on some appearance OF
strength. Covering by shorts started In
moderate way shortly after the OPEN
Ing and prices gradually worked back.
May advancing to 81 u6 and July to
93hec. India adyices reported the crop
prospects In the central provinces very
favorable, but this was counteracted, by.
private cablegrams from Argentine, re-
ducing the estimates upon the export
able wheat surplus OF that country TO
$4,000. 900 bushels. Additional strength
was lent to July by moderate support
from the Letter. interests. The trading
at no time, however was very heavy
in either option. The fear Of Letters
influence over the market was shown
by many traders leaving the wheat Dit
for the coarser grain markets. North-
west receipts We're not heavy, Mime
apolls and Duluth reporting $40 cars,
against $50 last week and 1870 year
ago. Chicago received 72 cars, OF which
.! were OF contract grade. Export
clearancesy from Atlantic ports were
62o,Ooo bushels, the figures in most in
stances being Tor two days. After the
reactions noted July sagged back 10
9l1ac and May to 81 051l on realizing nv
room traders. Buying was started
later on the Bradstreets visible supply
report, which showed n decrease OF 3G5-
600 bushels. This was surprise. as the
trade had been led to expect a heavy
increase, and prices for u time got back
nearly to their former level. Later in
the day. however, the market became
quite weak on further declines in Eng
llsn markets. Letter brokers had mean
time stopped buying July and prices
tumbled rapidly. July got down to Ole
and May TO 81 o.. but reacted again be-
fore the close on covering, May closing
at 81 0G and July at 91%c. =
Corn was moderately active. The
opening weakness of wheat caused n
rush to sell at the start, chiefly BY room
traders, and prices declined sharply. A
rally followed on covering and ON the
heavy exports. but prices declined
again later, the market being easy at
the close. "A feature was the number
OF traders in the corn pit who usually
operate in wheat and who were usually
on the selling side OF corn. May ranged
from 30Bc to 30hc, and closed nc lower
at 305sc- 5[g,t,'.is,
Oats were active and unsettled. The
feature was the revival OF the export
demand. which acted as a strong sup
port 10 the market. Opening prices
were lower In sympathy with wheat and
corn. Prices advanced at once on cle-
vator and professional buying. At the
top there was. moderate realizing and
prices slowly declined. Tho close was
steady. May ranged from &c to 2Gkc,
and closed Mt 2GH GD267ac aE-+ -
Provisions were fairly active and ir-
regular. The weak hog market START
ed the market at general declines, pork
hclnG especially weak on stop loss or
ders selling. At inside figures there
was good miscellaneous buying and lard
and ribs became fairly strong. Pork,
however. was very weak throughout.
Packers were the best buyers. At the
close May pork was TIC lower at
$40 s2H, May lard &c higher ut IS 30, and
May ribs unchanged at SIS 25.
Estimated receipts Thursday: Wheat
ITO cars: corn eco cars; oats 400 cars;
hogs &c, 900 head. 81
Cash quotations were as follows:
-Fiour-Steady. ss!fa
Wheat-No. spring nominal; No. 3
spring 9iQ9Sc; fancy 81 Oh; No. red
29% 0295ac. 4 d III.
oats-No. 9, :c%e: No. . white sO4c;
No. , white 2SK 020hc. II
2 Rye--No. 2, 60c.
Flaxseed-No. l., 81 0J,&; northwest
ern 81 2S. - = 81 = =
MISUNDERSTANDING So 92kD2 a5.
Pork-Mess per barrel $40 1000 50.
Lnrd---Per 100 lbs So 22IAGD5 25,
Short rlbs-Sides (!oose) 81: 2505 40;