The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-02-12
CHICAGO GRAIN MARKET
Corn Was Active and Helped Wheat
Market
NAY WHEAT CLOSED SIS IMPROVED
Corn Closed 1-2 to SIS md Oats is
Highcr-Provisions Were Un-
changed to 10 Higher.

Chicago February Il.-Corn, exertng its
influence over an oversold wheat market,
was chiefly responsible for a sharp advance
in the latter today. May wheat closed 5sc
llgAer. Nearly all the corn news was bull
ism and that market closed hG%c over Sat
urday, Oats advanced sc In sympathy. while
provisions showed "A nrm hne hnisn I'M
changed TO lOc higher
Saturdays strenuous and confident bears
relying on calculations OF bearsh statistics
WITH winch to begin new prom able week,
were today driven TO cover. The statistical
reports lorecasted Saturday proved accurate,
but Instead Of hnG.nB a geld market on
which to secure proiits, shorts were confront
cd by a very s.iff market. with the opening
e OF the May option unor.nged al it%sW
7A. The markes had been sold to a stand
STILL vat the rush TO cover, wnicn approached
stampede. despite more liberal offerings
from longs ON the rise, carrying May to I5ise
during the first hour. None of the opera
Tons however, were ndvdually consp!cu-
Gus. There was moderate commission
house demand aud some Ouying by profess
sionals who thought the long side profit
able place for Investment The chief factor
in overcoming the buirishness OF the stats-
tics was the strength early developed in the
corn market. although reported reduction
In inc amount OF the exportable surplus OF
Argentine wheat, stead.ness In the Liverpool
market and the moderation OF Northwestern
receipts were contr!butory aids Heavy clear
ances and de rease In tine visible was IN
huontIal OH the days bull.sh considerations.
which resulted IN further advance during
end OF the session invited realizing by longs,
under which a reaction to 75Ac took place,
but the close was strong, May sc higher at
loAq'59sc TEXTURE OF the days trade was
the relative weakness Of July wheat which
vas pcrsistently dumped on the marke; IN
liberia auart.tles by one or two commission
houses til the price was at one time lisc
under May. The cash trade was not conse-
auentlai, exporters reporting but eighteen
loads taken at the solboard, Primary receip;s
AGGREGATED $4,000 bushels. The crowd was
portance OF receipts, the corresponding day
a year ago having been a hol!dly. Mime
apolis and Duluth reported 626 cars, against
~ last year Local receipts were Il cars.
! ne worlds visible showed a decrease of
l,2IS.00) bushels. Worlds shipments. accord
.ng to ooard Of trade figures, were S,SOOOO0
bushels, WHSLE the amount on passage in
creased 3,ol4,O0O bushels.
Corn was active and strong from start TO
lnish. Speculative Interest was keen, the
volume of business heavy and prices above
receipts, unfavorabe weather for moving
the crcp to market the continued poor grad
ing oi fresh arrivals. the sustained high
prt,es OF hogs IN the market at the stock
yards, together With light country accept
ances to local bids and the excellent cash
decand formed the bass OF the markets
strength The opening was sc higher for
May at S9ha392sc, with commission houses
actively engaged on both sides OF the mar
ket. At this tine recognized bull leaders
Were not IN the market bu. they came in
Under Ssr we're compelled TO cover at a loss
Ihe combined buying pressure forced May
sharply up to Sshl during the forenoon and
at this price the market closed nc to SIC i'm
proved from Saturday. Local receipts were
2T3 csrs
There Was little business transacted in the
Provisions were moderately active mar
ket while prices were sustained by the re-