The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-06-03


CH1CAGO-After sensational break
Of 4 cents ut the start to-day whea:
closed firm. due to free buying by shorts
on soft spots. July closed unchanged.
September Sole higher. Corn was Sc
better and oats unchanged. Pork was
SOC and ribs &c lower; lard unchanged.
Everything in the way Of news in
wheat seemed bearish to-day at the
start and the sentiment in full accord
with the news. Liverpool cables show
ed 9l2d decline for July and 2iGd In Sep
TENDER. In addition there was report
from New York that foreigners were
selling at the seaboard, continued prom
lse OF a big wheat yield and Indications
of an early harvest In south and south
west. All this created a weak senti-
ment, resulting In active liquidation
short selling sales on stop loss orders
which led to partial decentralization.
July, which closed ct 91A@92c yes.ar-
day, sold down to SIC and September Ie-
clincd nc. However. there were shorts
galore and everyone had profit in their
previous sales and saw fit to take Il.
Buying Of that sort and against weekly
puts turned the market firm. Letter
brokers gave occasional support to July
when 1t needed 1t. The Shorts In Sep
tember gave that the support 1t stood in
need of every time it got under 7Sc
Chicago received 80 cars against n
year ago. Minneapolis and Duluth re-
ceived 2lo cars against 35S last year.
The export clearances from the Atlantic
and seaboard ports were equal In wheat
and flour to $4,000 bushels: July opened
364Ic lower at S7dS9c, sold up to 90c.
down to SIC. rallied to 92c then eaeed
off to 91S692c at the close. September
started 7s@1Ac down at 77%@77%c, sold
up to 7Skc, down to Tic and up to 79c,
the closing price. 1a
Weakness In corn, which existed at
the start, was due to the hcaviness Of
wheat. There was quite general buying
later and the market eventually became
strong. The weather was clear and
warm throughout the corn belt. July
opened S61Ac lower at 32ikI3oNc. I'D
avnced to 33c, eased Off to 325sc, then
up to 33isc and closed at $3.50.
After n weak opening oats gathered
strength as the session advanced. The
buying of July and selling Of the Sep
TENDER option was the feature. July
opened ADSc lower at 24c, sold down
to 23%024c, then up to 244sc. the closing
figure.
1t looked at the start as IL every
broker In the provision pit had orders to
sell pork. Prices suffered severe de-
cline. Much of the weakness was owing
to the increase IN Chicago of 10000
pounds in stocks of ribs since May !.
Lard stocks were smaller and In con-
sequence prices were firm. JURY pork
opened at 27k0421sc lower at $40 $50
10 90 fell off to $40 72H., flrmcd up to
$40 02k and declined to SO STE OF the
close. July lard started 7lI4l0c lower
at Sc oO0G O5, sold up to SC 12ls and
ensed off to So 10. the closing price. July
ribs opened 7h4l0c or at S. 72h@5 Is.
advanced to S. so, then weakened 70
So Tx at the close.
Estimated receipts for tomorrow:
Wheat SO cars; corn 1915 cars: oats
1876 cars: hogs 1900 head.
Cash quotations were us follows:
Flour dull and weak.
Whcat--No. 2 spring 81 oOI1 05: No. 3
spring 95c0$l 05: No. . red 81 OF.
Corn-No. 2, S3bc.
Oats-No. 2, 25hc; No. white zoo
20hc: No. white 2SQ29c.
Ryc-No. 2, 4iIi5c.
Barley-No. 2. 39@i5c.
Flaxseed-No. l. 81 20; northwestern
81 %.
NEUTRALITY-SUSPICIOUS. $2,SO02 SIS.
Pork-AIess per barrel $40 S0Gi0 IS.
Lard-Pcr 100 lbs Sc 0jGI6 O7k
Short rlbs-Sides (loose) S. G5GG 90.