The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-06-21

CHICAGO-On important buying by
shorts wheat to-day more than recov-
cred from an carly slump. July closed
with n loss OF Nc and September left off
with ar advance OF H@Yc. Corn. ard
oats rose Sc each, pork gained 25c, lard
TIC and ribs 10c. IE
Unfourded rumors thai some one In the
grain business in the northwest was in
trouble, tie clear weather, and the de-
morali.ed foreign markets started
wheat weak. For almost fifteen
minutes sufficient number Of shorts
were Induce to cover to keep the price
within the limits OF the opening range.
But reports Of harvest operations being
resumed where they have been inter-
rupted by rain and every Indication Of
O. Gigantic crop, together with the eI-
IRENE difficulty OF marketing 1t abroad.
caused quick break. July, which sold
at the close Saturday ut 72hc bid, de-
clined to .0c. September lost 1Bc, SELL
ing at 65Ac, and December sold off 1%c
and 66kc. Within an hour, however,
the sentiment showed q change. Tho
market here paid no further attention
to bearlsh news, as shorts were evil
derrtly impressed with an idea that the
price had already declined sufficiently.
On theory and an emphatic denial from
the northwest Of all the rumors that
had been current early, together with
the development Of good cash de-
mGnd shorts bought quite freely and
kept the price rising until the carly loss
was more than recovered.
Liverpool started at 2iGd' decline for
July and lAd each for September and
December. ard subsequent quotations
from there came lower and lower until
the final report, which showed July sid
lower for the day and the later delv-
cries Sd lower. The worlds shipments
were 10.1l7.000 bushels, compared with
$4,000 bushels the similar week OF
1897. Chicago got 10 cars and Minncap-
oils and Duluth 81, against 3l4 Mt the
two latter places last year. July OPEN
ed k1lHc lower at 11G71&c, sold down
TO 70IEc. up TO 10&c, down TO 70c. ad-
vanced to 13c, then fen of to re bid,
the closing price. September started
&c lower, TO nc higher at GG% GGIMc, fell
to G5% GGGfc, tirmed up to G7%c and sold
at 67%G67Ac nj the close.
The Improvement in the weather had
a weakening Influence on corn ut tho
opening. Later II recovered nh the
early decline and NC more on important
buying by shorts. July opened &c dowr.
at SlHGS2c, declined TO 3lSc. then rose
to 329s032Ac asked, the closing price.
Favorable crop reports and weather.
forecast created weak feeling In oats
at the start. Later, however, the loss
was all recovered on general buying and
the advance In corn. July opened &c
lower Mt cSSc, declined 20 238c, rose to
2iA 02i&c, then settled to 2iAc at the
close.
The buying; of provisions was much
better. than the selling and prices after
yielding little carly recovered sharp
ly. July pork started 2Hc higher at
50 57hs. declined to 80 5j. then iirmed up
to 80 so, the closing price. July lard
began unchanged to 2hc lower at IS 700
5/72hc. advanced to So S0G5 SPY, and
sold at S. so at the close. July r,bs
opened SC lower at IS 40 and rose to
IS IS asked, the closing price.
Estimated receipts for tomorrow:
4 Whc2t9 cars: corn 576 cars: oats zoo
cars hogs 1900 head.
Cash quotations were as follows:
Flour irregular.
( Whcnt--No. 2 spring GSGD70c;l No.
spring Gfd73c; No. 9 red 7Gisc. rs iaSi
Corn-No. ., 32932He; No. 2 yellow
32HG32Mc.
oa,s--No, 2, 251Ac; No. 2 white ESQ
2SIsc; No. 3 white &c.
Iye-No. 9, iic. y II
Barley--N& 2, 3l0ssc