The San Francisco call., 1899-03-17
NEW YORK GRAIN AND PRODUCE.

NEW YORK March 16.-Favorable crop
news from California and the Southwest start
ed a landslide in wheat prices to-day. They
broke cents bushel in the highest point
of the session and closed 111a1&c under
the previous night. Heavy liquidation, par
ticularly from San Francisco and St. Louis
sources, accompanied the decline. and short
sales as we'll were a large scale. The May
option broke to 729&c, closing at I2'sc, with
subsequent trades on the curb at 729sd72%+c.
Foreign news was all very weak indicating
declines of 1sG12d IN Liverpool and 5@25 points
at Paris. Influenced partly by reported heavy
Argentine and Russian offerings.
FLOUR-Receipts, NIB barrels; exports
$500 Weak and 5Q10c lower.
WHEAT-Receipts, $500 bushels; exports
217, 100 bushels. Spot-weak. No. red, 1850,
Duluth, 1880 f. o. b. afoat. options opened
easy crop news and cables. A sharp re
covery took place toward noon on export
rumors. but was followed in the last hour by
an utter collapse in prices, due to liquidation
able home crop reports. Southwest and Cali
fornia selling also attended the late break
79i4QSO7sc closed at 7gHc; april; s37. .g+2ttc I
closed 7S24c May, 2Aq74&&c. closed 725sc; July.
7l1kQ7S14c, closed 7112c; September. 6s1s@HlSc,
HOPS-Quiet
HIDES-Steady.
METALS~With the exception OF lake copper,
which showed considerable weakness, the vari-
GUS departments of the local metal market eX-
hibited marked strength on more urgent de-
mand. favorable cables and a sudden with
drawal of offerings Iron led in the upward
movement and displayed relatively more ami
nation throughout the day. At the close the
PIC 4PTIfGIRoN%Warrants, firm, at $40 so nomi-
LAKE COPPER-Easy. at s17 so sellers
LEAD-Firner, with 81 45 bid and 81 Az
asked. The brokers' price for lead is 81 20,
and for copper, 81 50dI7 10.
SPELTER-Unchanged with Sc 80 bid and
Sc 40 asked.
ing: April, IS %; May S. 10; July, So 15 Sep
tember, IS 4OG5 45; October s. 50Q5 30; No
vember, s. 55q5 60; December, s. 70Q5 IS; Feb
ruary, IS so; March $500. $5 S0G5 S5. Spot
coffee-Rio dull, but steady. No. invoice,
6 S-16c; No. jobbing, 7-16c. Mild-Dull and
SUGAR-Raw, steadier in tone. Fair refn-
ing 37kc; centrifugal 90 test 42sc; rnolasses,
sssc. Sales. $500 bags, centrifugal at 4asc.
BUTTERSReceipts 1881 packages. Very
firm. Western creamery, 15q20c; Elgins, 20c;
EGGs-Reeeipts. 400 packages Steady.
Western, 13&c; Southern, 12G14c.
DRIED FRUITS.
NEW YORK, March l6.-Californa dried
fruits firm.
EvAPoRATED APPLEs-Common, 7,as4c;
prime wire. tray, S&qsc; choice. 9AQ9lzc;
fancy, ga 91oc.
PRUNEs-4Q1oc
APRIGoTs- Royal; 12a14c: Moorpark. 1sa17c.
PEACHES-Unpeeled, sQllc; peeled, 2jq2Sc.
CHICAGO GRAIN MARKET
CHICAGO, March 16.-As the early batch of
crop reports received by commission houses did
not indicate very serious damage to winter
wheat and California confirmed the breaking
of the drought in that State wheat speculat tors
commenced the day in a bearish mood. There
were other matters in the early news that like
wise contributed to the selling spirit with
which traders were iInbued at the beginning
| of the session. Liverpool quoted futures from
%qAd lower and cold wave that had been
predicted to succeed yesterdays wet weather
proved of too cold a type to raise any further
apprehension of damage to winter wheat Nav
to 69Mc, with plenty of buyers and sellers at
those figures. The buyers were more persistent
however, and continued bidding, gradually re-
vising their bids until they finally had shorts
on the and got the price of May up to
69Ac. The foreign demand for wheat was
very slack and Beerbohm's reported Russian
offerings of wheat increasing while Antwerp
cabled that Argentine Offering wheat very
freely in that market The bears took fresh
and scalpers who had bought at the opening
also turned sellers Between selling out-of-
town wheat and selling short the market got
down below the starting prices. Long wheat
came out in big chunks when May got under
69c which 1t did about an hour from the close
1t broke in the last hour to size and closed at
Extremely small country acceptances and
light receipts held corn steady until near the
close when the price followed the weakness of
wheat. May closed 7sQ1c lower.
In oats there was general liquidation on the
part of longs, and as the market declined stop
loss orders were drawn in and added TO the
loss of 1G1sc.
Heavy buying by shorts against light offer
ngs caused an upward tendency in provisions
early Later some selling induced by the weak
ness of the cereals resulted in the loss of the
Improvement. May pork closed unchanged.
The range In lard and ribs was very small
NO FclI