Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-02-08
PRODUCE.

lineage, FeDruary line lnHuence
which the Letter interestes have on
wheat trading was well illustrated to-
day. Notwithstanding news that IN
der ordinary circumstances would be
sufficient to break prices very sharp
ly, wheat declined only &c, and when
Letter brokers started to bid, a gen.
eral covering movement ensued which
carried prices back to within 1sc OF
Saturdays final figures. Corn closed
unchanged. Cats added 18c to the for
mer price, and provisions advanced
50121ac.
Chiefly on account of an early dis
play of strength at Liverpool, open
ing bids for May wheat were at figures
a shade above Saturdays closing
prices, May starting at 95@951sc.
Liverpool showed h@Ad advance at
100 p. m. Besides this, worlds ship
ments showed a considerable falling
off, the total for last week being
$4,000 bushels, compared with
7346,000 bushels the week previous.
Anothe feature which helped in the
opening firmness was the strong cargo
market at London, a sale OF Oregon
wheat being reported at the equiva-
lent Of 81 161a a bushel. Liverpool
ton of 10000 bushels for the week.
warehouse stock also showed reduc-
News bearing on the future crops here
and in foreign countries was so favor
able that selling movement
started almost Immediately after the
opening, and the pressure finally be-
came so hard that the market for
,1 nf
strength. May dropped to $3.50 in a
few minutes, and though seaboard re-
ports of god foreign inquiry caused
few of the more timid shorts to
cover, which sent the May price back
to 941a0943sc, the price dropped I'M
mediately after this demand was sat
isfied, this time going to 941sc. Cali
fornia reported an abundance of much
NEEDED rain Indian crop prospects re-
ported as unfavorable Saturday, were
said to be splendid to-day, and Aus
tralia, it was said, would have more
wheat for export than expected.
Rosario cables stated that both re-
ceipts and shipmentes of Argentina
wheat We're increasing. Besides all
this Northwest receipts were heavy.
Minneapolis and Duluth reported $50
cars, against 4S7 last week, and 5l1 a
year ago. Chicago receipts were SO
cars, eight of which were of contract
quality. The visible supply decreased
$50 GOO. about as expected. For two
hours the May price hung around the
bottom the dullness being varied oc-
casionally by some buying against
puts. Then the Leither brokers ap-
peared and commenced buying at
around 94Ac. They had made show
of supporting the market around the
opening, but the feeling at that time
was so unanimously bearish that they
soon quit. This time their bidding,
coupled with the fact that prices were
at put figures, son turned the mar
ket toward higher prices. Late in the
session shorts became apprehensive of
the gradually increasing strength,
and many traders who had sold early
in the session bought back their lines.
May had previously advanced to 9412c,
but this fresh support carried prices up
to 947sc, where it closed with buyers
at that figures
Increased country offerings and
western selling were the features In
the corn market. The tendency dur
ing the early part of the session was
down. but toward the close the rally
in wheat and strength Of provisions
caused prices to recover. Shorts were
the best buyers. May ranged from
291k to 2S7sc, and closed unchanged at
291sc.
Oats were fairly active. The mar
ket was weak and lower early, due
to quite general selling and the break
in wheat. When the latter market
rallied early short sellers covered and
the oats market became quite firm to-
ward the close. May ranged from
247s to 233s 0231ac, and closed 1sc
higher at 24%c.
Provisions were fairly active and
strong, and prices reached new levels.
Higher yard prices were responsible
for firm and higher opening in pro
visions. This induced considerable re-
alizing and part of the advance was
lost, but later a strong buying move
ment set in which carried prices quick
" inward. The close was strong at
nearly outside figures, May pork 121ac
higher at SO 40; May lard 10c higher
at IS 1924, and May ribs &c higher at
IS 1912.
Estimated receipts Tuesday-Wheat,
80 cars; corn, $40 cars; oats, 325 cars;
hogs, $1,000 head.
ASSOCIATED Press Quotations2
Tho leading futures ranged as follows: