The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-02-05
WHEAT CLOSED STRONGER
Good Rally Followed Long Period
Of Weakness.
LETTER BUYING CAUSED STRENGTH.
Provisions Touch the High Winter
scored In All Grain Markets.

| Chicago. February 4.--Whcat closed as 4
opened today, strong and at ssc advance ovcl
yesterdays Anal figures There was Ions
period OF weakness. caused by liberal North.
western receipts and prospects Of small
possible decrease. but Letter buying and the
strength which developed In provisions and
tho coarser grains caused firm market dur
| ing the afternoon. Corn advanced Sc Oats
closed Ease higher and provisions touched
| tho high mark OF the season. closing 2i.u7iac
higher.
Opening trades In May wheat were at from
| 4 TO 10 over yesterdays closing figures. May
lrangIng all the way from 81 rs to 95,s IN
different parts OF the pit, with quite a good
trade at those figures. rho market was helped
by tho unexpected advance Of sd at Liver.
pool. where decline was looked for. 1t was
supposed this was due to the falllng on in
Argentine shipments, exports from that coun-
try last week being but 6Ts00D bushels, or
nearly aD0,0oJ Under those OF the week be-
fore. Traders here looked for figures close
10 the minimum market and the shortage
VIVA pleasing 70 holders.
Notwithstanding this Liverpool strength
cned the market, which for time after the
opening appeared to be in control OF the
bears. 9
Northwestern receipts continued heavy,
Al
today. against 3gi last week and 200 a year
ago. Chicago received twenty-five cars.
Tho Kansas crop report was very favorable |
and there was an early haif-pent drop at |
st. Louis The effect OF this was that Inside |
0f thirty minutes the Liverpool advance was |
dlsrcgardrd and prices declined, May drop
ping to 9i1s. recovering to siS for moment I
then turning again and not stopping till gih
had been quoted which occurred about ii |
o clock. During this decline there was free |
selling for St Louis. and this helped locni
In tnrSn tsg
ins lines,
a feature which had tendency TO incrcnse
The weakness was carly figures on the visible
supply, indicating . rather small decrease
lcxt week. nut before noon the market be-
San To recover. Practically no Influential
'upport had been given during the decline,
md the market became rather oversold.
3rokcrs fur Letter commenced bidding IN
Iided by lot OF late buliish news and
marked strength In provisions and the coarsc
'ratns, started an upward movement which
artied the price Of Mny to %.
Export clearances from Atlantic ports were
lherai, amounting In wheat and feur TO 5I4,.
I'D bushels. Realizing started after the adj
hnce TO - ana reaction 10 9i% but Mt the
lose reports of u good demand at Mlnncni- |
lis for low grades OF wheat, owing to
Iarcty OF better quality and reports OF 20
'ads taken for export, caused renewed buying
'nnnd and advanced May TO 95,i. the hign-
II point of the day. IL closed firm at that
cure.
Corn was moderately active and frm Coun-
y offerings We're freer. but cables were |
lgher and receipts light, mud there was good
'yestnent buying on the belief that higher
rices should prevail The market was also
alped by the strength In oats.
The market for oats was very strong ana
snin sold at the top prices, 2li5 buying
as free and general all day elevator Inter
'ts being prominent. There was also consid-
able Investment buying. The selling was
lneipally In the way of profit taking The
gent cash demand was n buiiish factor.
PROVISIONS sold at the highest price OF the
aHon. The market carly was quiet OH tho
cline IN hog prices and ON commission
,nsn realizing. Tho market improved and
e demand became quite general toward tho
ose. May pork closed Tis. lard 2,s and ribs
higher.
Estimated receipts Saturday Wheat. 20
RS: corn. i5o cars; oats, 100 cars, and hogs
900 head.
Tho loading futures ranged M follows