New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-16
THE TRADE IN CHICAGO.

Chicago. March Is (SpeciaD-Wheat shorts,
particularly the July. felt early like getting out.
The pit sentiment was that the selling had been
too unanimous For an hour after the opening
there was a general inclination TO cover up. The
short interests did not, however, prove as large
as imagined. The buying demand was over be-
fore noon. The rally was all lost July closed
a cent under Monday. 1t needed a lot Of peg
ging" by the Letter party TO close the May at
s1O4 May early touched 81 03, probably put
there by shorts At that figure there was May
wheat for sale by Letter. He vas still ready,
though. 10 take all the May offering at 81 "a.
The July was the active feature 1t opened at
S6al. sold between SO and $50. cents. and closed
at S5Ia cents New York showed early strength.
Outside markets really started the advance. ST..
Louis was a buyer here. The strength however,
was entirely a matter OF pit conditions. When
the pressure from shorts was over there was
nothing in the news to hold prices.
There was perfect spring weather over the
West an abundance of moisture with moderate
temperatures. The rapid accumulation Of con-
tract Wheat was still apparent-126,OO bushels
to-day. which made 33I 900 bushels in three
days Minneapolis Duluth and Chicago had 554
cars against 2S3 last year. The decrease in the
worlds visible supply only 1254O0O bush
els against 4.O7I.O0O bushels last year. Gables
were lower. Liverpool. 1aGld. lower. New-York
reported 10000 bushels Of wheat sold to Lis
bon and six loads in addition. The export clear
ances from all ports were $4,000 bushels. Out
side markets turned weak when Chicago did.
There was nothing in the news to explain the
rather sensational decline in the last thirty
minutes. The demand from shorts had been
filed: that over, sellers found no market
Corn was UP and down with wheat, firm early
and weak at the close May sold at 30A :,gk
cents and 207s630 cents. and closed OF the
bottom Receipts were 800 cars, with 300 csti-
mated for Wednesday. Cables were without
change. Seabonrd clearances were 100000
bushels There was an increase In the available
east Of the Rockies OF 1872, 900 bushels. The hne
spring conditions affected corn as well as wheat
The total ;ocal stock here. 90 100000 bushels was
the largest ever known. Holders Of corn were
the sellers In the last few minutes OF tn. session
There was a small speculative trade. Charters
were 10000 bushels at ~ cents to Buffalo
Oats kept In the wake Of the other grains but
very slow. May sold at 26ia ard at o61s
cents. and closed at 26s026A cents Receipts
we're $50 cars with 1I5 estimated for Wecnes-
day. Seaboard cearances were $4,000 bushels
There was a decrease In the available east Of
the Rockies OF 81 900 bushels. Charters we're
100000 bushels. There some selling of ,ar,
against buying of corn.
Provisions started firm on small hog receipts
10 600. with 10000 estimated for Wednesday.
and prices 2la to cents higher Pork at one
time showed an advance Of l71s cents: lard and
ribs Of 3 to ~ cents This was all gone at the
close. The liquidation by outside longs. which
has been under way for a week. was still going
on. Packers were not disposed to come TO the
support OF the market. with no settlement OF the
war contingency In sight Provision shipments
were large. 100000 pounds meats and 1900 600
pounds lard.
On the curb puts on May wheat were 90 cents
calls. 81 o. Puts on July wheat. S3n cents:
calls. s6N0SG1s cents. Puts on May corn. o0M
cents; calls. 2oN cents July wheat on the curb
was az low Si!a but closed at S5M