The San Francisco call., 1898-04-12
CHICAGO GRAIN MARKET.


 CHICAGO, April I.-Wheat to-day sold off 1zc largely fine weather and enormous worlds shipments Closing prices, however showed decline of but a4G7sc, sensational crop damage reports from California relieving the pressure late in the day. The President s message was not a factor, the contents of it being not generally known until trading for the day practically at end. Corn Oats and Provisions were all easier and left off at small declines from Saturdays final prices
 The opening tone in Wheat was distinctly weak, July starting in at from S4l4c to S4c compared with Saturdays close of S4ssGS434c Several influences combined to bring about the decline Advices from Washington early were of more pacific character, and as a good deal of buying has been done of late on the belief that impending hostilites would bring about higher prices, this fact was responsible for more less unloading. The weather West was very favorable for farming opera tions, and early crop reports were bearish. The Government crop report was expected to show a condition of SI, against Sl5 last year, but un- certainty in regard to this and the fact that the foreign markets were still closed had a tendency to restrict trade all day. Small Northwestern receipts were apparently over cars, against 357 last week and 662 a year ago Chicago receipts were s5 cars. The addition to contract stocks was large. Besides receipts of fl cars of this grade from regular sources 23 cars and 1i0 900 bushels were received from mixing houses and a cargo of TO- 175 bushels bv lake total of about 14S, 900 bushels World's s shipments were enormous, amounting to 10 = 376 900 bushels. Liquidation. which started at the opening, was kept up without intermssion for some time, the price finally dropping to s312c This was below the put price, and a slight rally was caused by buying by holders of these privileges July reacting to S3ss Q This show of strength lasted but short time The visible, which was expected to show a de- crease of about 10000 bushels. proved a se- were disappointment to the bulls, the decrease amounting to but s4.000 bushels. The market quickly sold off again on this announcement and the lowest prices of the day were re- corded. July got down to S3sQS3Ac The market then steadied somewhat on covering by shorts but did not rally much until afte1 the noon hour when the great strength of inc San Francisco market and decidedly sensa- tional reports of the Wheat condition in Cali fornia put a different complexion on things and caused the best buying of the day. some really important short lines being covered The California reports were the worst so far re- ceived hot norther prevailing with an ad- vance of 2-1oc at San Francisco. During the deal of firnness. The July price finally ad- vanced to s35sc and closed at that figure
 the break in Wheat started general selling a break of l9c resulting The market soon be- came dull with narrow fluctuations until near the close, when the rally in Wheat brought buyers into the market and prices rallied to fbe best point of the day. May ranged from 2ss. G 2sasc and closed hGAc lower at 2sss a2as4c
 Wheat and Corn, and ruled weak and lower on weather also counted. Demand was very light i1t until near the end, when 1t improved on the Wheat rally, the market closing fairly steady at some rally from the bottom May ranged from 259sQ25%c to 25asc, and closed a shade
 Business in Provisions was light and mostly of scalping nature Lower hog prices, the grain decline and the more peaceabe prospect ing decline and the still lower prices which followed Market improved with the late re- coveres in grain and closed steady. May pork.