Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-03-17
PRODUCE.


Chicago, March 16.-More reassur-
ing news about the prospects for win
ter wheat to-day, heavier offerings in
Europe from Russia and Argentina
and absence of any export demand to
speak of for American wheat caused
such heavy liquidation that under the
leadership of wheat prices in all the
grain markets broke severely. At the
close the following losses were estab-
lished:
Wheat &c, corn 7s@1c and oats 10
1Bc. Pork left off unchanged and lard
and ribs shade lower. AS the early
batch of crop reports received commits
sion houses did not indicate very SER
ious damage in the winter wheat and
California firmed the breaking of the
drought in that State wheat specula-
tors commenced business in bearish
mood. There were other matters in
the early news that likewise contrib
uted to the selling spirit with which
traders were imbued at the beginning
of the session. Liverpool quoted fut-
ures from 3s to I'D lower and cold
wave that had been predicted to sue
coed yesterdays moist weather proved
to be mild type to raise any further
apprehension about damage to winter
wheat
May opened A@asc lower at from
1914 @69ssc down to 691sc with plenty
of both buyers and sellers at those fig
ures. The buyers were more persist
ent, however, and continued bidding
gradually raising the bids until they
finally had shorts on the run and got
the price of May up to $3.50. The
fo, VIII xxyos
slack and bears reported Russian Of
ferings of wheat increasing, while
Antwerp cabled that Argentina was
offering wheat very freely in that mar
ket. 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 start
ing prices. Chicago received only 43
cars against lat year ago. Mime
apolis and Duluth got 279 cars COM
pared with 5S2 week ago and 231 for
the same day last year. Atlantic port
clearances were equal in wheat and
flour to $4,000 bushels. Long wheat
came out in big chunks when May got
under 69c, which it did about an hour
lIOlu TIE ClOSluS. IL UlOAC Ill IuC iAoI
hour to 671ac and closed at 67h@
675sc.
Extreme small country acceptances
and light receipts held corn steady I'M
til near the close. The profound weak
ness of wheat at length, however,
alarmed some longs who began put
ting their corn upon the market where
there were no buyers, and the price
accordingly suffered bad break. Re-
ceipts were PIG cars. May opened I'M
changed at 35c, advanced to 35Ac, sold
off quickly to SAC and closed with buy
ers at 34@34Ac.
In oats there was general liquida-
ton on the part of the longs and as
the market declined stop-loss orders
were drawn and added to the down
ward tendency. Receipts 140 cars.
May began a shade lower at 26Ac, rose
to 261ac, then slumped to 25Ac and
left off with buyers at 25ssc.
Heavy buying by shorts against light
offerings caused an upward tendency in
provisions early. Later some selling
induced by the weakness Of the ce-
reals resulted in the loss Of improve
ment. May pork started shade high
err at S9.171a@9.20, advanced to $9271s,
then declined to S9171s, the closing
price.
The range in lard and ribs was very
small
Estimated receipts of hogs for Fri
day $4,000 head. The estimates on
grains were not obtainable.
Cash quotations were as follows: