Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-05-03
PRODUCE.

CHICAGO. May May corn scared
10 soc to-day and closed &c over yes
serday at 531ac. July closed INC high
er. Wheat was moderately active and
firm on cables, the weather, and in
sympathy with the coarse grain, July
closing @7sc higher. July oats clos
ed with an advance of INC. May gam
ed 11ac. July pork closed 335Ac up, lard
and ribs practically unchanged.
In corn the tight grip of the leading
bull on the May delivery was more than
ever apparent. Prices huctuated vio-
lently within range of sc. but actual
transactions in the pit were small
Phillips, who has the market practical-
~ cornered refused to sell Aside of
small receipts of contract grade and a
report that Argentine's exportable sur
plus has been reduced fifty per cent
were Strengthening factors. The manip-
ulation was of course most apparent in
May, although the July delivery profit
ed somewhat by 1t and enjoyed more
general trade. May opened u to 115c
higher at so TO SIC and was bid up In
" and 1sc jumps to 55c. This brought
only very small offerings from scatter
ed scalping longs. 1T was reported that
some large short lines had been pri-
vately settled at the market price with
Phillips, but no authority for the asser-
tons could be found. From SOC May
dropped back to 53c, not from any in
crease in offerings, but because the bid.
ding stopped. Later SAC was bid and
the close shorts were offered 531a, 4
cents more than yesterdays close. July
sold between Ace and 471sc and closed
nc higher at 47@1se Receipts were
21S cars, 10 of contract grade The
weather was said to be highly favorable
for the crop.
While trade in wheat was on a liberal
scale, business appeared to be mostly
for the professional element who were
looking for ''scalps" in the way of quick
profits. The markets undertone was
firm, however, under the influence, of
steady cables, hot, dry weather under
which insects thrive and in sympathy
with the neighboring strength in corn
and oats. ssrT
The Northwest reported fears chat
wheat will not stool unless some cool,
wet weather shall be forthcoming.
There was, however, no lack OF reports
of the usual optimistic character in re-
gard to crop prospects. July opened II
higher at 1872 to 1870 and advanced
early to 741sc. This was followed by
reaction on profit taking to 9s@Ac,
but bulls bought at the decline and the
market again reacted to 74@1sc, and
closed firm, A@5sc higher at 1875. Sea-
board clearances in wheat and hour
were equal to 1877 900 bushels while PR
mary receipts aggregated only 342,toc
bushels against $4,000 bushels last
year. Minneapolis and Duluth report
ed 247 cars against 215 last wesk and
439 a yeaTSago. Local receipts We're 54
cars, one Of contract grade.
Oats were active and strong. Nav
advanced sharply because it was
thought the bull crowd in corn had also
cornered the supply of oats. July was
more amendable to Legitimate ma.ket
influences and advanced on the weather
as well as in sympathy with May, in
the tate of liberal commission house
selling at times. The demand for May
came mostly from pit shorts who got
but little. May sold between 2S3s and
291a and closed 112c higher at 293sc;
July ranged between 263s and &c and
closed with gain of &c at 27c. Re-
ceipts were It's cars.
The only redeeming feature of the
provision market was the advance Ill
July pork on buying thought to be cor
packers; lard and ribs were neglected
and fuctuated within a narrow range
July pork sold from SIS 00@15 32h
and closed at the top 3215c over yes
terday. July lard closed 21ac lower at
IS O5 and July ribs shade down at
So 90.
Estimated receipts tomorrow:
Wheat 35 cars; corn 375 cars; oats
215 cars; hogs $4,000 head.
The leading futures ranged as follows: