The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-12
CHICAGO GRAIN MARKET.
The Bulllsh Government Report Served to
Send Wheat Upward.
TRADING WAS VERY HEAVY ALL DAY
Corn. Oats and Provisions All Closed
N Shade Higher. Being Pulled
Up by wheat.

Chicago. August f1.Wheat got we'll above
the zoe mark TODAY. closing strong at an ad-
vance of lisc. The bullish government crop
report was the main factor IN the scramble
for cover. which took place and which at
one time advanced the price 2Ac. Corn, oats
aud provisions were all pulled out of a hole
by the strength of wheat, corn and oats
closing a shade higher and provisions 2lsca
7Isc higher.
Wheat started with an advance OF %fsc tor
September. op.ning trades In that option
being made at ssHs6eo%. Bullish news for
the first time in weeks was plentiful But
all else was lost sight of In the government
figures on the condition of spring wheat
They showed a decline of ST. per cent in the
condition. suggesting crop OF 235 100000
bushels.
This would Indicated decrease OF 6o.0OC,oO0
bushels. shortage 100 great to be over
looked even in the present apathetic oondi-
ton of trading. To add to the strength of
the situation reports from the Northwest told
OF q serious and widespread damage by yes
terday hail storms In the Dakotas and Mn
noapolis and Northwest receipts showed
marked falling on. Gables, however. were
rather disappointing. Liverpool showing but
knLd advance early aud losing even TINS
slight advance before the market closed. The
opening advance was looked upon by the ma
iorty OF the older trauers as sufficient con
sdering the news and considerable selling
followed until September slowly declined to
694 Offerings were all absorbed so quickly
in fact that although Il period or dullness FOL
lowed tho decline to b9lac. some OF the early
sellers started to make erorts to buy. OFFER
ings were scarce and apparently the attitude
of the whole trading element changed within
a few minutes. within the next half hour
buying element developed into scramble
to cover and the rapidity with which prices
shot UP caught many heavily. Before the de-
mahd had been satisfied September had ad-
yanced to ma. Realizing at that figure was
heavy aud a decline TO 10iAG ,OSs followed,
but the market was well supported, shorts
being anxious to cover even at that price.
and the close was strong at IOA
Northwest receipts were Ito ears against $50
last week and 80 year ago. Chicago re-
ceived 80 cars. Total primary receipts were
$4,000 bushels. against $4,000 bushels last
TO 100000 bushels There was better cash
demand for all grades of wheat and Go, 900
bushels were reported worked here
Corn was weak early on the government
large crop This was the chief feature Of
the morning trade, and though no material de-
cline took place the market tended downward
until the big advance took place In wheat.
That started buy,ng In corn, shorts coming
into the market. advancing the prices of ali
futures 4 feature was the buying of May;
was not so active. Receipts were light-27l
cars. Crop advces were favorable.
oats were exceptionally dull. but firm. with
prices following narrowly the course OF wheat
There was good buying OF September by ship
Ders. supposed TO be against cash sales. but
nothing was reported worked here. The gov
ernment report advanced the conditions
slightly. Receipts. 3Si cars
Provisions early were slow and rather easy
small declines taking place during the morn
ing trading. The market turned firm in the
afternoon. with the advance In wheat and
under general buying the declines were re-
covered and small advances scored.
Estimated receipts Saturday: Wheat III
cars; corn go cars; oats, 315 cars; hogs. 1900
head,