The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1898-08-22
NEWS WAS BEARISH
Traders Innocu!ated with Selling Views
in Wheat Yesterday.
PRICES DECLINED SHARPLY
Other Speculative Articles Followed
Wheat Closely and Closed at
Sharp Declines.

Chicago August 20-Threatened large
m 'vements of the spring crop inOculated
traders IN the wheat pit today with the
selling virus ana prices declined sharply.
September closed 1124l5sc lower and de-
cember lost 3sc. Corn declined &c. Oats
are down 1smAc. Pork left off 15c lower,
lard 12Rc, ana ribs 1GQl212c.
Wheat traders had nothing but bcarish
news to begin with. but the opening prices
were u shade higher than We're current at
last nights close. The apparent strength
was of short continuance, prices for the
active futures getting to Ac below the
highest notch of the opening in about ten
minutes and 3sc under Fridays closing
figures. The influencing factors We're both
of foreign and domestic origin. The quo
tations from Liverpool were 12d down for
September and 3sd for the December. The
Italian crop was estimated at from 116,C0O
900 to l2OOO0,UOU bushels, compared with
J2,00!00o the previous season, and lhe
French crop al $40, 100000 "a least. after al
lowing for some disappointment III pre-
vious expectations. The most striking item
Of news from domestic sources was that
Minneapolis and Duluth received 400 cars,
against 1io the proceeding saturday ana
PAS cars the corresponding day the year be
fore. Chicago got 158 car loads only 10 OF
which We're of contract quality, and a year
ago 2l9 cars came 10 hand here The de-
maud from the seashOre for wheat, prompt
shipment from here, was less urgent, but
. business could have been zone IN NO
ready for immediate loading; but 50 parllC-
ular were the buyers in that respect tnal
Mondays loading was refused me sprihs
wheat market was very unsettled IN the
car lots crowd and much of the day re-
ceipts being tough and damp, IL was am
cult to get buyers to make any kind oil a
respectable bid. Low grade red winter was
equally dcmoraliZed. That condition of al
fairs added 10 the bearsn feeling already
existing, and as the northwestern markets
were also very weak, the futures We're
boldly pressed for sales, more especially
September, December being comparatlYe.%
lsc higher at G,Nr65lsc and had Il quick
break to Gl5sc. Ii steadied for little while
around those figures. then broke to o@14e
unchanged to 1sc up at from G2A to 6lesci
dropped to 6l7sc and 1irmcd up to &c sell
ers at the close.
Continued fine weather, a slow shipping
demand and the weakness in wheat had
a bcarish influence on corn. The genera!
tone Of the market was easy, although
December increased it's lead slightly as the
result of rather extensive changing trans
actions commission houses taking the De
Cember and setiIng the near by |ei ~,
cisa!d''a at $5Is s,,.''''
oats again demonstrated their ability to
follow corn Trade, however. was Very
light and for this reason prices showed
only the slightest fluctuations. Septen-
Der oats began unchanged to 3sc n!sler
at 1889 and sold off to 1880, the closing
price.
An advance in prices for live hogs at
the wards favored provisions at the COM
menGement. Prices soon yielded. however.
under pressure of offerings from buyers
on Yesterdays break, who We're disposed TO
accept what profit they could ma mo ., SG aPt1
off to IS 1921 and closed at $3.50. september
lard opened unchanged at 50 ,J2l2. rose to
s. aGl5. rs ana declined to $40, the closing
figure September ribs began 0QtU2c lower
at $515, weakened to $5.0'12 ana hrmed
up to $50 at the close.