The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-01-30
LIQUIDATION WAS FELT.
heavy Sales Before the Close Friday
Depressed Wheat Prices.
JANUARY OPTION WAS NrGLECTrb
Traders Afraid 60 Plunge In May
Coutracts--An Grain shows Dc-
clinc--Provisions Unchanged.

chicago. January 2s.--wheat today felt the
close of yesterdays session and acted weak
aud irregular. May closed lAo lower. No
attempt was made TO do anything IN January.
Corn and oats were heavy aud declined &c.
Provisions were Arm, without much trading,
and closed unchanged,
Wheat showed some strength at the opens
ing. principally because Liverpool had rc-
sponded fairly well to yesterdays advance
here. Holders OF lines already heavy were
good bidders at the start. witch was at 9shel
aTis for May, an advance of tssiasc. good
deal was for sale at those prices, but the
selling did not dcpress the price lower than
81. and shortly after general buying move
ment set In, which carried the price. up TO
9S That advance however. resulted IN 4
short selling breeze OF such strength that IN
half an hour the advance had melted away,
the price of May getting to 9eSi.
Tho heavy decline of long liuos late yes
torday made many traders afraid to risk Their
money In wheat at prices above we. ana TINS
fact had a good deal to do with nugmontins
tho liquidauons which carried prices down.
Most OF the routine news was bullish-
Bradsircet's made the weeks clcarances OF
wheat and -four from both coasts a,llVosi
bushels, compared with 3,9s6,0oo the previous
week and 2,5l5o0o bushels the corresponding
week of last year. Chicago receipts were dV
cars OF wheat Minneapolis and Duluth re,
ceivcd $50 cars, against SIS a week ago ana
100 last year, The total receipts ut Western
primary markets were 80; 900 bushels, against
205 900 the year before.
The days clearances from Atlantic porta
were again heavy, amounting In wheat aud
flour 20 oa5, 900 bushels. This latter item IN
jccted temporary strength into the market,
May recovering to 977sa9iis. but 1t soon
fell back again under renewed offerings mud
to lower level than before. s6& being
touched before the reaction came.
shortly before the close the market was
given support. Letter brokers being credited
with good buying at the bottom bsures ana
May advanced to e6 rs, where IL closed July
was relatively heavier than May 1t opened
at from SEA. to 81. aud the latter was the
highest II reached all day. II sold ms low as
Sc and closed at S6i4, Il loss of half cent,
Corn was barely steady at slight decline
from yesterdays price. An early decline IN
wheat started moderate liquidation In corn
and a decline ensued which was not recov-
cred.
Oats were firm at the start with good COM
mission house buying and New York demand.
Prices held firm for time but broke iater
undcr heavy liquidation by firm which mas
been unloading for several days. Talk OIL
rate cutting prevented the market from de-
clining more than II did.
Very little was done In provisions, ana
prices kept within an exceptionally narrow
range. At the close May pork, lard and
ribs were unchanged.
Estimated receipts Monday: Wheat. 30 cars;
corn. l20 ears: oats, go cars, and hogs, 10000
head .,,.
rhc leading futures ranged as follows.