The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-02
CHICAGO GRAIN MARKET.
Extremely Favorable Crop Reports Caused
Corn 10 Go Lower.
WHEAT DECLINED FOR LACK OF DEMAND
ont. Closed Use Down; Provisions
Closed Weak, but Shndc
Higher.

Chicago, August 1.-corn was the big maj
ket on change today extremely favorable
crop reports causing liquidation that was
heavy enough to cut 4sGs,c off previous
pilces. Wheat suffered from lack of cash de-
ruand and lost hd%c, Oats closed lsc lower.
Provisions closed rather weak but shade
higher.
Pronounced dizziness was practically the
oul! feature of wheat from the opening until
within three-qu1rters of an hour of the close.
During that tine the range of prices was but
&c and for long periods the pit was half de-
se;ted, traders going to provisions and corn,
where more activity was apparent
The opening was rather weak at slight de-
cline. September started 1so lower at 69ls4
6sA. 1t advanced shortly after the opening to
6eA, but soon fell back TO opening prices and
Until afternoon kept within that range. Little
long liquidation was noticeable during the
morning. and, although news as rule was
bearish. the absence OF selling pressure pre-
vented any material decline. Gables were
lower. but did not show the decline expected,
Reports from the spring wheat country inui-
oa,ed large crop and the weather was favor
able for the grain.
Northwestern receipts were light Mime
apols and Duluth reporting 296 cars, against
2s3 last week and So u year ago; Chicago re-
ceived IL cars. Little new wheat was report
ed among the arrivals Total receipts al pri-
mary points were $4,000 bushels compared
with $4,000 year ago. Atlantic port clear
ances of wheat and hour amounted to 5l5,OJ0
bushels.
Bradstreets report on the visible supply.
due about noon, mad tendency to restrict
trading In the morning as bearlsh report
was apprehended This surmise proved ~ W.
correct, the decline being put at only $4,000,
against $4,000 bushels u year ago AoouC
Il 30 O'Clock the most complete absence of cash
demand. both here and at outside points, APP
parcntly impro ssed the bulls with the futillty
OF longer holding their wheat and iqui-
dating movement was started, which grew de-
cidodly heavy the session drew to close.
The weakness shown by corn acted a spur
TO the disguised longs, and large quantities
of long wheat came out on the decline. Pre-
tious to the noon hour the September price
had touched 697sd70 on moderate buyins.
principally by shorts, but II declined rapidly
under the liquidation and shortly before the
close touched 49, The close was weak at 6es
sellers.
Corn was weak and at times quite active.
Reports from the corn belt indicated large
crop, This and continued favorable weather
ana large receipts (Ssl cars) started important
movement later and prices declined steadily.
a redeeming feature was the sharp cash de-
mand. at least 100000 bushels being disposed
OF. September ranged from 80 to Soai and
closed 5sm%c lower at S0I30h
Oats were dull hut steady. In spite OF the
weakness of other grains. There was far
export demand at the seaboard and enough
buyers Of September to keen the price steady
most of the session. Receipts we're heavy-tJ2
cars. Contract stocks result of the July
deal showed an increase of $4,000 bushels for
the week. September ranged from 10 to 1914
and closed isc lower at 10.
Provisions were irregular The close was
barely steady, with September pork and lard
each 2ikc higher and September ribs un-
changed
Estimated receipts for tomorrow--Wheat Sc
cars corn So cars. oats $40 cars. hogs 5000