Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-01-20
PRODUCE.

ChlcdgO, January 19.-SuppOrt from
the Letter crowd which started with
covering by shorts made a strong July
wheat market to-day, that option clos
ing sc higher. May on the contrary
was weak and showed closing decline
Of Il 0Ac Bearish foreign news in
fuenced the latter option. Corn was
weak early but closed easy at a shade
better price. Oats showed no change
ct the close Provisions were irregu-
lar, closing at 21h@5c higher. Wheat
started with some showing Of weak
ness. As usual the opening tone was
greatly Influenced by Liverpool and
the action Of that market on this occa-
sion was q disappointment to the bulls.
Liverpool opened A@ssd higher, but
by opening time here that advance
had nearly all be lost. The market,
however, was only slightly affected,
and after few minutes hesitation a
firm undertone was shown. May.
which closed yesterday at 913s 091 &c,
opened to-day at 9l14c, sold at 81 1sc,
and for some time stood at about 9lA
0313sc. About II O'Clock the market
became strong and advanced to 81 12c,
where it was well supported. The
July option was the feature Of the
trade, however. 1t opened at from
! 81 &c to SIC, or 1s0Ac under yester-
! days price, but started up at once,
and by the time May reached 81 12c,
July had advanced to S3c. A great
! deal Of the early buying was credited
to the Letter people, which had the
effect of not only driving local shorts
to cover, but outside shorts as well,
and for a time trading was decidedly
warm. The advance that followed
the opening decline was in the face
CT a good deal of bearish information
brought in over the wires. Besides
the early loss at Liverpool, flour at
Paris was reported 20 centimes lower
for March-June term; English cOun-
try markets were from Cd TO is lower,
and a well known Paris grain dealer
cabled that French duties were i'm
movable, that crop prospects Tor next
harvest were magnificent and that the
requirements Of the foreign wheat i'll
that country from now to July | We're
only about 14,000, coo bushels. After
ward the closing cables from Paris
quoted both wheat and -four from 10
confines to IS confines higher, and
from Antwerp a rise OF 1211 centimes
was advised Liverpool closed 1ad
higher for the day for March wheat
and I'D lower for May. Clearances
from Atlantic and Gulf ports We're
equal in wheat and -four to 525,So0
bushels.
Local receipts were II cars, against
% the similar day of the year before.
Minneapolis and Duluth received 3S5
cars, against 367 the week before and
49, Air,rr 2ex nf =
before. Realizing by local longs be-
came quite free in the afternoon in
both the May and July options, and
slight declines ensued, the extreme
dullness which set in during the last
half hour also had its influence and
the market was weak at the close,
Nav at 9lAc and July at 82%c. There
was some Improvement in the trade in
corn. The market early was weak on
general eslling by room traders. There
YVES quite a good demand at the slight
decline in prices. and this and the re-
covery in wheat caused better feel
ing. Liberal country offerings were
factor in early weakness. May rang
ed from 29c TO 26Ss @2S%c, and closed
a shade higher at 2S7sc.
The market for oats was dull as in
the other grain pits, the start was
easy, but the advance in wheat and
corn was followed by oats. Buying
was chiefly for New York account.
Elevator interests sold early. Nav
ranged from 2324c TO 231sc, and clos
ed unchanged at 231ac-
Considerable interest was shown in
provisions. A strong feeling prevail
ed at first. commission houses and
some Of the packers buying literally
and prices advanced. A higher hog
market contributed to the strength.
Later on the market became weak on
increased offerings and the absence OF
support and nearly all the advance
was lost, the market closing easy at
about inside figures At the close May
pork was 21sc higher, at $3.50; May
lard 21sc lower, az s4.721s, and May
ribs unchanged at s4.7o.
Estimated receipts Thursday: Wheat,
IS cars: corn, 375 cars; OTIS, 240 cars;
hogs, So 600 head.
ASSOCIATED Press Quotations.)