The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-03-17

CHlCAGo, March l6.-Moce reassur-
Ing news ABOUT the prospects for winter
wheat to-day, heavier offerings in Eu-
rope from Russia and ArgIntena and
absence Of any export demand to speak
or for American wheat caused such
heavy liquidation. that under the lead
reship OF wheat prices in all grain mar
kets broke severely. At the close the
following losses were established:
Wheat &c; corn 34lc and oats Ia
IL. Pork left OF unchanged and lard
and ribs a SHADE lower. hs the carly
batch OF crop reports received commits
sion houses did not indicate very SER
iouS damage In the winter wheat and
California iirmed the breaking OF the
drought: IN that state wheat specula-
tors commenced business In bea-ish
mood. There were other matters in the
early news that likewise contributed to
the se!llag spirit with which traders
were imhued at the beginning OF the
session. Liverpool quoted futures from
Il to I'd lower. and q cold wave that
had been predicted TO succeed yes;e--
days moist weather proved to be a
mild type TO raise any further appre-
hension about damage to winter wheat.
Nay opened hQ3Sc lower q; 69A1
$3.50 down 10 G9lsc, with plenty
OF both buyers and sellers at
those figures. The buyers were
more persistent however, and
continued bidding. gradually raising the
bids until they finally had shorts on the
run and got the price OF May NJ TO
6a%c. The foreign demand for whoa.
was very slack, and bears reported
Russian offerings OF wheat increasing
while Antwerp crblcd that Argentina
was Offering wheat very freely In that
market. The bears took fresh courage
when these announcements were made
and scalpers who bought, at the OPEN
Ing also turned sellers, between selling
out OF long wheat and selling short the
market got down below the starting
prices. Chicago received only 10 cars
against li1 n year ago. Minneapolis
and Duluth got 279 cars compared with
5S2 a week ago and 81 FOR the same day
last year. Atlantic port clearnnces were
equal In wheat and flour to 432, 900 bush
els. Long wheat came out in big
chunks when May got under soc. which
1t did about an hour from the closing.
1t broke In the last hour to 6Thc and
closed at 6TlE&G7dsc
Extreme small country acccptances
md light receipts held corn stcadS un-
I'll near the close. The profound weak
ness Of wheat at length. however,
alarmed some longs who bcuan putting
their corn upon the marke. where there
were no buyers. aud the price accord
ingly suffered Il bad break. Receipts
were ZIG cars. May opened unchanged
at 35c. advanced to 35hc, sold on quick
]" 10 SIC and closed with buyers at s.
G3ihc.
In cats there was general liquidation
on the part Of the longs. and az the
market declined stop-loss orders were
drawn and added 10 the downward ten
dency. Recsipts 40 cars. May BEGAN
shade lower at 26Hc. rose 10 eGILc.
then slUmped 20 254c and left OF with
buyers at 259sc.
Heavy buying by shorts against light
offerings caused an upward tendency
liz provisions early. Later some selling
Induced by the weakness OF the cereals
resulted In the loss Of improvement.
May pork started shade higher at
80 lIi.ho 90, advanced 10 80 97ls. then
declined 20 80 liz, the closing price.
The range In lard and ribs was very
small.
Estimated receipts OF lious for Fri
day 23C1O head. The estimates on
grains were not obtalHnble.
Cash quotations were MS follows:
Flour-pull and easy.
Wheat.-No. 2 spring G7GGS,sc; No. .
spring 1?g6Ic; No. . red G9l4GT9Hc.
Corn-No, 2. 3T3inc.
Oats No, 2. 2GEa2C%. No. . whltcSO
@4ohc; NO, 3 white 2SN@2ohc.
Reno. .. 53lsc.
Bar!cy-No. 2. 3SGisc.
Elnxsecd-No. |. 81 l7Ik; new 81 2slls.
Prime timothy Ernl-en A;
Mess pork, per barrcr-S9 oO19 05;