New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-12
THE TRADE IN CHICAGO.

Chicago Aug II (Specia).-There were two
sides to the wheat market to-day, bearish one
early with a decline of cent In the september
from last night and a bush one In the last
thirty minutes with a recovery Of all the early
decline September closed " cent better than
Wednesday, although the Government report
had been so bearish on spring wheat. September
opened from 65h to 65 cents, sold between to
and 661a cents, and closed at 66k cents The de-
ferred futures did not rally so completely. De-
cember and May Jagged. December closed at
GAN to 64x cents. or n cent under wednesday
night; May, at 661s. or ~ cent under Wednesday.
The early decline was on the Government re-
port. Everyb body Interpreted 1t the same way.
The closing rally was started by rer 'rts from
Kansas City Of an advance in the cSsh or 10 :
cents and IL claims from Milwaukee and Detroit
Of the a . sort. It scared shorts. started a
stampede, and brought about quick recovery.
The cash news here was no. Of the sort which
came from Kansas City. There did not appear
to be so much buying urgency In this market
Tho seaboard was not so socitous about It's
bidding. New-York reported exporters steadily
reducing their shorts In the cash grain. st.
Louis was emphatic that a larger movement
was ahead Receipts to-day. however, were
certainly light everywhere only 3I9,oOO ousneis
a
year Toledo had only 81 cars; Kansas City only
148. against 300 a year ago; Chicago only III
cars. against 147 St Louis had $1,000 bushels.
agoinet 90 OOO bushels These small receipts
were undeniable and WERE Of course. more sub
stant,al a. an argument than any prediction as
TO increased future movement. Liverpool was
u ~ IL lower. and reported the weather fine.
Paris was a little higher Wheat charters here
hal he eoqh clodr2rCeS
were 60 600 ushes. The speculative trade was
,o,o, % me. one reason the fluctuations were
so
Cor l., dropped almost a cent early, on the Io'-
eminent crop figures and on country selling 1t
recovered half tie decline when wheat turned
so strong. September opened at 32&s. sold oe-
.o.n 20 and 32h cents and closed at S21a
cents The crowd was of the opinion that the
Government estimate, 1886. 100000 bushels. was
altogether too high, but it started lot Of coun-
try and local liquidation. Patten let go long
line-about SOC. 900 bushels. Cudahy however
Who was a considerable seller few days ago.
bought to-day about as much as Patten sold.
Tho country was a free seller on bids sent from
h.ra last night There was fair cash demand
Charters were reported for $4,000 bushels Re-
ce,nts were 55S cars, with 4O4 estimated Tor
Friday. Cables were Nd. to 1sd. lower. Sea-
hoard clearances were $4,000 bushels. The
talent believes the Government report. whether
right or wrong, will be bear influence for some
time.
Oats were rather steady, although Influenced
early by the other grains. September opened al
2O,A cents. sold between 2Ols and 2oAt cents
and closed at 20% to 20N cents. May was
relatively weak, selling from 23is to 231s cents
and closed at 23A to 23is cents The drop IN
the Government report. SO points, was not as
much as expected Clearances were only 4o.oU
bushels. Receipts were 800 cars. with $40 es-
timated for Friday.
There was a Arm provision market the last
prices being just about the same as weahes-
davis to a shade over The support as was the
case Wednesday. came from the cash demand.
The crowd thought Cudahy was covering pore
and ribs On the swell Armour was a seher Oh
ribs. II was not a big trade; Hog receipts were
moderate. 1000. with 10000 estimated LOT to
morrow. The packing West for the week was
335 600 hogs. against 1861 600 last year.
On the curb wheat was strong september up
~ e8ia cents. Puts on September wheat closed
at 85z to 65y: calls. 6Ih. Puts on September
corn 33x calls. I'm.