The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-07-21

CHICAGO-A condition OF soitness in
wheat to-day acquired from last nights
rain was hardened by reports OF frost
IN the northwest. September closed
h6hc lower and December lost Nc.
Corn left Off unchanged. Oats advanced
NC. Pork quit 7iic higher. lard and ribs
are up 2hf5c,
The lower temperature In the spring
wheat territory following last nights
rain, together with the early decline in
corn started wheat weak. Business
during the first part OF the session was
dull and the undertone hearish. The
argument was urged that our export
surplus would be OF such magnitude
and the foreign demand so restricted
that II vas likely to glut the market
and lower prices would be inevitable.
Another factor which served to weaken
bull confidence was Broomhalls fig
ures, showing the worlds wheat crop
this year likely to be 10000, 600 bushels
above requirements. On this sort OF
reckoning, September, which opened isc
lower at 67H d6Sc. sold on to 67I4c.
Then came reaction on the announce
mcnt of the signal service bureau OF the
probability OF frOsts tonight in the
northern sections OF the wheat belt
In addition to the frost predictions
the bulls got some announcement from
the primary market receipts OF the new
wheat being too light TO inJurlousiB af-
feet the price OF the cash article. There
was also a report that crops abroad
were less favorable, as severe storms in
Hungary had damaUcd the crops there
from 100000 TO 100000 bushels. Chi
cago received ciGhty-seven cars eighty
Int,
and Duluth got sixty carloads compar-
cd with sgs a gear ago. The total re-
ccIpts ut the principal primary western
markets we're $4,000 bushels, against
49S, 900 bushels the similar day OF last
wear. The Atlantic port clenrances OF
wheat and flour equaled 10000 bushels.
September opened nc down at d7SaGSo;
weakened to 6Tikc; rallied 10 6Siaq6S+so;
then reacted to 6Shc bid at the close.
December started &63c loser at 679su
GSiEc, sold on to GI9sc, up to 6Si.c, then
down 10 GSAc asked, the closing price.
Every commission house appeared 70
have selling orders for corn at the
opening and the lower prices trndlng
commenced with.appeared also 10 bring
numerous stop loss orders on the mar
ket Rain throughout large section Of
the western corn country was the cause
OF the weakness at the start. This was
all changed later. however, when the
weather bureaus report OF possible
light frosts In northern sections OF the
corn belt was received.
The news resulted In the bull crowd
taking on extensive lines and holders
OF puts" bought freely. II did not take
long with this buying to absorb the OF
ferinEs and as sellers gradually drew
out the market made nm advancing
tendency. September opened ah@%c
lower at 32a4 I33c gold up gradually 10
S35Sd32&c. then reacted to 23,ac bid, the.
closing figure.
Oats held steady on good buying by
commission houses and responded
promptly when corn rallied. September
began isnhc lower NJ 1879 Glglhc, sold
IN to 1870 igsc. then settled back to
1886 az the close.
Provisions had weak start on ac-
count Of lower quotations for hogs and
the decline In corn. OneTings We're.
however, small, and very little huylug
suficcd 10 take all that was for sale and
MS a result the decline that InauEurated
the days business was easily overcome.
There was rumors OF a large govern
mcnt contract for cured meats. Sep