The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-03-06
WHEAT AGAIN ADVANCES.
Covering by Western Shorts Mas tho
Feature In Trading.
THE TRANSACTIONS WERE ENORMOUS
During the First Hour IA Miiiion
Bushels of Mny Changed Hands.
Provisions Closed Lower.

| Chicago, March 5.--Covcring OF May wheat
| by Western shorts was the feature In wheat
trading today. 1t was the principal factor n
an advance of Ic in that option. and tho
| strength displayed was communicated to July.
| which closed at hdssc advance. A good ichl
of nervousness was shown at times. Armour
ordering 900 cars Of wheat for shipment from
| Minneapolis to Chicago having a decidedly de-
pressing effect carly in the session Corn and
oats were dull and closed with hardly any
change in their previous values. Provisions
Were weak and closed eMdiOc lower.
Tho opening In wheat was stoady. July
starting unchanged at sOMdeoss and bringing
soi. moment after. May showed an opening
advance of &c at Los. The Ohio State crcp
report, which made tho curditlon of Winter
wheat Ss per cent below the average, was a
surprise to the trade. rs previous reports
showed the conditions promising, and this
caused niomentary strength. Then prices COM
nioncod TO droop.
II was reported that Armour had ordered
900 cars to load with wheat at Minneapolis for
shipment to Duluth. This was taken by many
traders as indicating repetition of the great
run OF wheat to Chicago which took place
Withdrawing of support, Tut also In heavily
Increased offerings. Prices slid of IN conse-
qGercp July getting down to S9si9S9ss.
The fluctuations In May were very irregular
aug great deal OF nervousness was shown
Ficn the opening the market dropped quickly
to 1,0tM This was followed by q quick re-
coyery TO .06A and almost us rapid decline
To !. rs. Then the market for both May and
luiy began TO recover.
On the first decline In May breaking on n
large scale was started, aud during the irsst
changed hands. This was supposed TO be
mostly for Northwest shorts. Commission
houses were all large buyers. getting some OF
the May from the Letter people. This sudden
increase In the demand for May brought local
Shorts IN July Into the market. and with the
additional help of some bullish news prices
slowly advanced. Clearances were fair--i,ooo,-
600 bushels.
holdings In the Northwest had been sold to
millois. They were not confirmed, but never
tholoss had effect, The Northwestern receipts
Were 2b2 cars against 100 last week and 32I
year ago; Chicago receipts "A cars.
Near the close the market became quite
strong. Buying became quite liberal. May,
which had declined to .o3A, advanced quickly
to 06 but had reacted by closing time to
1.cl%. July got up to the best prices OF the
day-eo94 lso%--and closed firm at 9OHs,
Liquidation of long corn was the feature in
thlt market, n prominent elevator concern
disI csing of aheavy line. There was also
qai'c general selling early In sympathy With
thu wheat weakness and prices decline. The
Improvement in wheat late In the sssion re-
suited in better support being given and the
decline was recovered, the close being steady.
Tho market for oats was very dull. being
OF n scalping nature. The tendency was down
waro in sympathy with wheat and corn but
when these markets recovered oats followed.
Provisions were weak all day. There was 4
good demand for Saturday. At the close May
pork was 1AGl0, May lard DC and ribs 2tac
lower.
Estimated receipts for Monday Wheat SO
cars corn 500 cars, oats $40 cars, hogs 15opo
head
The leading futures were as follows:
Articles Qpen.l High. Low Close.