The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-12-08
Bulls Ruled an Enthusiastic Grain
Market, After a Wild Day in the
Pits, With Wheat in the Lead
at All Times.
INCESSANT STREAM OF
BUYING ORDERS
One Broker Threw a Million and
a Half Bushels on the Market
and 1t Had Practically No Ap-
preCiabIe Effect - Provisions
DuU

Chicago, Dec. with an enthusiastic
market that has seldom if ever been
eoualed, bulls carried everything before
them It was a wild day in the pits
with wheat in the lead, and, as on other
recent bulges, an incessant stream OF
buying orders from the country brought
the advance. Wheat jumped 3431s cents,
corn 4 and oats rs. December wheat
closed 22s@21a up, May wheat "a up, De-
cember corn q higher and May corn a
higher and May oats 19s up. PROVISIONS
closed 21g to 154171a higher.
Wheat easily led all other pits and set
such a rapid pace that 1t was dlfhcult
task to follow. AS has been the tashlon
for several days past the pit opened
with a jump and disregarded the usual
governing factors. Bullish enthusiasm
did everything. Such market was a
great temptation to holders of long wheat
and soon a flood of it poured in from
several sources. One prominent broker
threw a million and a half bushels on the
market and it had practically no appre-
Ciable effect
Where several large sellers We're max
ing fat profits, there were as many Others
taking in all offerings with activity. Com
mission houses had orders that demon
strated that the public was bigger than
the professional The regular trade was
of the opinion yesterday that the pull
campaign was at an end and that prices
would slump in a panic market. TIPS
have been going out to sell everything
but today's business showed the effort
was wasted. Besides the countryman,
the CAPITALIST was getting into the trade.
And added to these very strong bull ar
guments came the news of strength at
Liverpool and in the English country
markets. Receipts, especially north
western were falling off.
The weather was unsettled and all out
side markets We're showing corresponding
strength. December opened &4B to l1sQ
IA higher al tn to 76$, eased off to 1928
on the heavy profit taking, but in the
last hour of business sailed upward, and
closed very strong, 2$s@212 higher, at 1875
May opened 7sd1 to lA4l% higher at
sos to S1A sagged to 505s, but near the
last moment of trade ran eXcitedly up to
SO, establishing a new crop record. The
close was very strong 294 higher at SZ9su
q. SeabOard Clearances in wheat and
flour equalled $4,000 bushels.
Corn was inclined to be fully sympa-
thetic with wheat. Country offerings
have increased somewhat the last few
days on the big advance, and the in
clination today was for further profit
taking, which it is fought would have a
markedly depressing effect had wheat not
taken matters in hand. Trade was
smaller than in wheat but cables We're
higher and offerings temporarily held off
because of the wheat demand. Commits
sion houses did a fair business on both
sides of the market after the opening
rush. and the wheat supply squirt at the
end mainly brought the reaction from
the sag attendant upon the profit taking.
December opened q 10 1d1ls up at 65iAaSs,
eased off to 6i2s and closed strong, Is
higher, at 647s. May opened p to l higher
at 6SA to 6S&, sold down to 6Sls and then
literally jumped to SO, a new record price,
where it closed very strong, a up.
There was good all around trade in
oats at the opening, with prices ad-
vanced on good buying, both local and
outside a temporary scarcity Of offer
ings and on the wheat strength. Com
mission houses still were filling country
buying orders, and prices advanced
steadily i'm the face of profit taking
May opened strong 4 to 1c. higher at
46 to 46al. never got below the lower
opening price, and late in the session
struck ATS. 1t closed very strong, is up,
at 473s.
Provisions inclined toward dullness
early, and prices were slightly down on a
weaker hog market. Receipts were lib
eral and there was a good deal Of early
selling. On the strength in grains, how
ever and a revival of country buying
prices reacted smartly and closed strong.
January pork closed 15017ia up at 1876,
January lard % higher at $50 and jan
uary ribs sc. higher at S.55.