The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-03-05
4 DECLINE IN CEREALS.
Armour and Elevator interests Ham
mered Down Wheat.
SHIPMENTS HEAVIEST THIS SEASON.
Eycrytiins Favored the selling side
and pyices Rcccdcd-Lnrd, Ribs
and Pork Close Lower.

1 Chicago. March s.--Doaiing by Armour and
i presumably by other elevator interests WAS
4 The feature ia the trading today and was
i mainly Responsible Tor decline Of " intMay
I and rs to in July. Corn was weak, In
sympathy, and declined s-s. oats wcrc gus
i tancd by the exceptional demand aud closed
! at unchanged priePS Provisions suffered Sc
| ycfciy frcm iiquidntion, coaine iOT2o lower.
/ Az the opnniug and for q short time after
| thorc was lively speculative demand for
! july wheat and tho market displayed con
siderable Hrmnoss NJ usual. Letter wars nj
the bottom OF tie strength. the ordering OF
20 600 bushels moro Of his wheat for Ehipmont
10 the sraboard tthis making nearly S,00o,Dgo
bushels siDcc this movement beganl being re-
snonsibIo for some OF the buying. Other
factors were the signing OF the decree re-
ducing ,hs Spanish import duties on grain.
Opening trades In July were made at alitiG
ais,. shade above yesterdays closing price,
aud cpcugh support matorlallsed to send the
price VIZ 10 sles; IN a short time that proved
to be the high Point Of tho day.
outside OF the items OF news mentioned,
cgciything favored the selling side cf the
market and this fact 5000 had its effect.
I.iycrpunl was the especially dlscoufaging
feature. That niarkct showed "a decline
shipments were the heaviest thus Tar THIS
srnaon, being reported at l,Gi0,0el bushels
Chicago received G6 cars. Northwestern re-
CENTS amounted to l6l cars. Export clear
inrc6 FOR the dag we're not large enough 70
ho bull factor The bgurcs were 80. 9op
bushclE and primary receipts wffo over t5V,Vpo
huEhcs. This array Of bear news gradually
brought sellers into the market aud liquipe-
ton, light at first graaually grew heavier
prices slowly declining.
In the meantime another factor had entered
the market In the shape o, selling May by tho
elevator intcresta IN which Armour was cs-
pccally prominent His houses made no &C.
cret OF their settling aud the freedom OF their
oifcrp brought others TO the selling side,
Opening prices of M8y were y higher. de-
cline 10 l.09is followed. Then came a slight
reaction, hut prices soon got back TO 1854
again. July by that time had declined 10
glts. For some limo the market hesitated Mt
this figure, but the tuctuation OF May finally
look all the remaining courage out oil the
bulls aud the market was left 10 shift for
itself
During tho last hour tho market became
quite heavy, both in May and July. and prices
slid or rapidly. May getting as low as 1otl4
close. Covering by shorts with good profits
then caused little better feeling and slight
improvements followed May rallying TO 10if
aud luly 10 9Olssnio9s. Those were the closing
prices,
Corn was caster on a moderately active
market. Some strength WAS shown at the
start, tho market IN this respcct following
wheat, but when wheat declined selling of
corn became quite general aud prices declined
stCadily. Favorable weather and prospects
Of q prodlgious Argentine corn crop were fac
tors.
Oats woro remarkably strong during the
morning Heavy export sales and liberal
commission house buying caused X advance
which wRs maintained for some time. Weak
ness IN other markets and moderate amount
Of realizing resulted In II loss Of this advance
later, the market closing rather easy
Weakness In provisions was marked from
the start and heavy sales ms the session ad-
vanccd, Toward the close n little support
MAS given the market md prices rallied
slightly. ~ the close May pork WAS 20c
lard Toe and ribs Zoe lower.
Estimated receipts omorrpw--WheRt, 62
cars: corn. GO cars; eats. 2G5 cars, and hogs
5000 head
THO leading futures ranged us follows: