New-York tribune., 1904-09-01
TRADE IN CHICAGO,
lay rEIrGRAPH 10 'rHE TRIEUNE.

iBY rEIrGRAPH TO THE TRIBUNE!
Chicago. Aug $i.-The bear turn in wheat cul-
minated very early This morning. and recovery
of nearly two cents followed or covering by shorts
and replacing of long wheat b. the sellers of yes
terGay- Before the opening hour the best pit OBJ
servers were predicting just such action They
assert that tile people who have made money the
quickest and oftencst for a week those who
have stepped in as buyers promptly OF every good
reaction from cents to 3 cents in prices
some better prices made first trades to-day In
duced some moro OF the kind of selling re-
corded yesterday. For halT hour prices were
carried down though it were to be a weak
marke. for the day. But the decline CT &c to
24c under the TUesday closing prices was the
signal for renewed buying and a strong recovery.
The most importer. bul! for The day was
the renewal uf wet weather Northwest. The map
showed some rainfall! night Early dispatches
sald / was raining hard this morning in the Red
River country. Later. the forecast was for cool
and rainy weather Tor three States Messages
from the other side of the line said that Manitoba
late wheat was at a standstiH. with the weather
cold ana wet. The last hour brought a weak
turn in wheat Led ~ the Spencer house there was
a move to sell The buying power seemed
haustel The trade got nervous Prices broke
easily This swing period quickly followed by
return of good buying and rally in prices.
After late break to 81 N57s. 81 O7as and 81 O9s4
prices recovered at the close 81 O6-s 81 0Sl.
81 OS's ana 81 loa TO 81 1925 for Septembec December
and Nav
In corn it was more pit conditions thar news
which regulated prices Corn was freely sold by
several local interests yesterday. The trade felt
that the selling possibly overdole in view of
the uncertainty of the weather and the growing
corn. Al no time in the first hour were prices on
level with the Tuesday close Shorts were buy
tfS Tor al montAs. ComStOck. Brosseau and Helm
holz led the local buying for May while Priugls
sold for that month. The weather map was not any
too good Temperatures are low most corn
states foS August There is mucr comment I'm let
ters and messages about green. backward fields
weeks to come. Cor. prices dragged back
moderately the last hour with the weak turn in
wheat. The market showed good support and raj
lied at the close. Late prices 527sC to hS1s.
September: 5i9c to 5lesc 20 5l2tH. December: and
i9i4c To i97sc, May. The market showed net gains
of icC to sc for tho day
There no big volume of trade ir oats at
any time. the elevator people sellers all the
morning. "hcrIuS December and May well
the near month. Against this selling Mas
general commission house buying Firmness I'm
wheat and corn helped oats futures After the first
hour Wrcnn & Co and McReynol6s e. Co became
liberal buyers for MAY. Ware-Leland bought Sep
tenber. Receipts were moderate 200 cars: the
estimate for tomorrow. zoe cars. Last prices for
oats futures Is to 2sc over last night Sep
temher- 3l2.C; December. 33isC; May. 25Ssc 374c
Fresh complications promised in the never end
ing strike al tn" yards and the approach o
livery day tomorrow made sick market for
all products the September contracts. Pork
for this NORTH broke from 81 % TO Sll O5 before
noon, lard broke from g 91i2 to s. 92iz rios from
g. % to s. i1i- The weakness spread 10 the ot he-
months. For October and Jauuarv prices dropped
81 20 and 81 - pork: s. e. and s. OH to 81 10
lard. s. 31'2 to s. a.. short ribs Low prices
provisions were made near the close when Septeu-
ber pork broke TO $40 80 October TO S1I OH JanU-
airy 81 37t2. Lard. for the moEthS, sold al
81 g. & and s. ora ribs s. 5 81 32i, ana s. So Clos
ing rallies were 2ieC to IL