The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-03-16
WHEAT WAS AGAIN WEAK,
Letter Crowd Sold Wheat When the
High Mark Mas Reached.
BRADSTREE1'S NEWS DlSAGRfEABLt
showed the Decrease In the visible
Much Less Than WINS Expected.
The Coarse Grnins Lower.

! Chicago, March l5.-Whoat today became
very weak toward the close and wound w
with a loss Of Il in July. Selling OF May
wheat at Los preeipitated food Of selling
orders In July Corn and oats followed
ions did not change much.
Wheat started a little easter. Cables showed
| slight declines and Liverpool reported re-
| ceipts considerably in excess OF normal re-
4 quirements. There were side issues how
] ever the main reason for the shading Of
prices being large additions to the contract
stocks which were reported. OF the 102 cars
received today 81 were contrac, grade, to
which were added I6 cars and %. 900 bushels
No l Northern out OF private DICTATORSHIP
all about l2s,0o0 bushels. AS this made
nbont $4,000 bushels added to the stock In
two days, II caused light pressure Oh the
market at first. July options being shade
lover at S6%fsGsl. This was the extent OF
the decline for the time being and though
offerings were plenty the demand became 30
strong that prices gradually advanced and
the market was strong for over two houra.
Besides, the natural inclination OF traders
WAS 10 play for reaction after the recent
sharp decline In prices.
The strength shown by outside markets. es-
pccially by New York. had tendency to
drive shorts Into buying. Clearancos were
large. $4,000 bushels, which was a bull help.
AS were also reports oil continued drouth and
unpromisinE outlook In California July,
which advanced to 49, was not alone In
strength, September received more or less
attention and was advanced to 79i5 during the
rise In July, Muy received the usual support
from Letter. though II hardly needed it.
There was some short demand in this dcliv-
cry, resulting IN an advance to Los.
AhO1t IL O. CDuk tho In mn ri.
eauc. Bradstrcet's report on the Ssble
showed decrease Of only t50t 900 bushels
This was disagreeable news 60 the longs,
MS the decrease last year had been i.077,o0o
ana started selling again. many of the early
buyers putting their lines on the market The
result WIS decline to S79s Then the mar
ket turned radically weak Letter brokers
who had been bidding t,oi for May, sold quito
q lot OF i when the price reached n5. and
This fact brought millions Of bushels of July
onto the market. As shorts had previously
been pretty well hlled up, prices dropped like
a shot to SdI@. II rebounded to S6si then
dropped again The last few minutes were
characterized Ny weskiiess with almost no
support OF rOnsednence, July sank to S5%
and closed weak at S5h May rested at l0I
md September declined to i7& closing at
Corn was firm untl late in tho day. though
showing less animation thar for some time
Near the close prices went off hfIh for May
and jnly and closed at 2a%I30 and 3t4dlslA
respectively.
The oats market was stagnnnt There was
no tradps nniil late In the day, when the
break III wheat was productive OF animation
Tho close was weak
Light hog receipts made rather firm -oro
vision market during the morning The clos
ing was rather easy. with May pork 2IS lower.
lard unchanged aud ribs ~ higher
ESTIMATED receipts Wednesday--Wheat. 1870
cars corn 200 cars, oats, i75 cars; hogs,
20 600 head $500
The lending futures were as follows: