New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-08-23
TRADE IN CHICAGO.

IBy TELEGRAPH TO THE TR1BUNE1
ChcaGo' Aug 2-There a grand display
OF Dull iorce at the opening Of the wheat trade
today. It lasted about five minutes and then the
reaction came. which caused prices to melt away
fast Absence OF news and opening prices
minneapolis made the trade here nervous. Mem
bers who went into the spring wheat States late
last week came back talking OF the widespread
blight TO wheat in Minnesota, Dakota and Man
iJoua and predicting all kinds OF high prices 1t
was evident that the professional trade well
as the public. had another cautious streak or this
morning All houses conceded that the volume OF
outside buying orders IS greatly diminished. Some
OF the commission people reflected the views OF
their customers by saying there suspicion that
there was too much bull news and too much sell
ing out OF large lines by the same leading inter
ests The decline of &c To 3I.c was the resut-
New September opened 81 1Ol49S1 Il and the re-
action two hours later 10 81 0S7s. December
touched new point at 81 Is on the opening furry
and had reaction TO 81 liz first hour and 81 1854
before midday. May had the greatest action
opened 81 I5s I$1 liz over previous high point-and
then went back quickly under free offerings. The
break was TO 81 L first hour and s. 1885 at noon
While this was going on here Minneapolis Septem-
Der price broke from 81 90 10 81 16l4 One Of
the buying force at the opening was the report of
frost at Rapid City. S. =. The trade fears a
freeze the late wheat both sides Of the Ca
madam line. The downward swing in wheat fut-
ures ended with September at 81 0Si&. December
at s. 0ss4 May at s. 12i- CSC TO 42Ac under high
point Of the morning. The last hour brought
moderate recovery. September TO 81 0s7s. December
TO s. Il. May 81 1875. The net decline for new
September is but &c
The best prices on corn were made first trades
IN line with the excited and higher wheat opening
September corn price moved up lzc TO 5i+1c. De-
ceuber relatively stronger at 53Ssc to 54c first
trades May 52a4c 10 5Slsc. When wheat prices be-
gan turbling followed slowly. The reaction
Tor the morning was to $3.50 September TO 52azc De-
cember. and 517sc May. Inspection several roads
over Sunday raised local corn receipts 10 ~ cars
Nearly all the receivers are predicting larger
nent for week or ten days. This is offset by the
shipments posted for the day 5000 bushels.
Estimate for tomorrow is 457 cars Local stocks
decreased for the week 2S 900 bushels Corn showed
support Of good character before tho close. with
the September price Up again To 64lsc. sc over
Saturday; the December up to 531sc. May 52q621sc
Export sales were reported At % boat loads
Brokers agreed that the operations in oats were
on moderate scale. The pit talent acted bUuLsh.
Cash grain houses had oats for sale Armour.
Bartlett Updlke and Lamson were early sellers.
Local receipts were Al cars, and the estimate for
tomorrow 80 cars Local stocks increased A.
60 to total OF 81. 10. September price weakened
from 1850 55@sc and held 10 337sc near close;
December sold at 35lzc to 34a4cG347sc. and had .
10 S7Isq374c. Last prices for oats futures were
&c TO &c under Saturday $3.50 September. Sac
December and S5d51isc Nay.
IN provisions the feature OF the day was the
selling pressure on September contracts. The near
approach Of delivery Gay makes holders run from
the cash property. There good buying eX-
cept by shorts. Pork sold off from 81 50 TO 81 %
September 81 S21a 10 81 20 October $l3 70 10 S3
= s.. 81 g7la 50 y = 10 10 81 Ribs same sold
s. IS s. 3234 = 50 81 - So sass 80 TO 81 80