Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-18
CHICAGO GRAIN MARKET.

CHICAGO, February 17-Bearish news
from Argentina and India caused a fresh
decline today in the local wheat market,
For the May delivery final quotations
showed net loss of e. Corn and oats were
each down Il. Provisions were shade
lower to 2715 higher,
For the third successive day the wheat
market was dominated by the bears, and
as on the preceding days, prices yielded ma
terially. At the opening the May option
was off Is to $s at S34 to S3l2. For time
the market held steady at the initial de-
cline. there being "A fair demand by com
mission houses. Pit traders were the prln-
clpal sellers during the first half of Tie
session News of the day was almost eX-
clusively favorable to the bears.
Gables were weak. weather In the United
States favorable, and a forecast or the
worlds shipments for the week showed a
liberal movement. In addition report was
received from India stating that several OF
the drought-stricken districts had been Wis
tied by rain. Toward the end of the first
hour the market became somewhat firmer
because of covering by shorts.
At this time May touched S3l2aS33s Later
in the day, however, dispatch was rece1V-
ed from Rosario claiming that the export
able surplus of wheat from Argentina VIII
be equal to that of last year. Another
sharp reaction occurred and the price OF
May dropped to S25s.
The market closed weak with prices near
ly at the lowest point of the day, final quo
atoms on May being at S2&. Clearances
of wheat and flour were equal to 36S, 0OO
bushels Primary receipts were 400, Q0U
bushels, against $40. coo bushels one yelr
ago. Minneapolis, Duluth and chicago re
ported receipts of 374 cars, against 3S1 cars
last week and 2SS cars one year ago.
Corn Steady.
Despite the weakness of wheat consider
able steadiness was shown by the corn
market There was a slight decline at the
opening because of lower prices at Liver
pool, but all of the loss was quickly gained
on covering by shorts. During the greater
part of the day the feeling was firm, but
the late break in wheat caused a slightly
easier tone at the close. Large primary re
ceipts and the prospect OF continued I'D
eral movement We're bearish factors. May
opened u to haA cent lower, at 429sa4Z94
cents, sold up to 43a431s cents and closed at
42% cents. Local receipts We're POI cars
with five of contract grade.
Oats Firm.
Oats were firm early in the day, but later
the market became easy. Shorts bought
actively during the first half of the session,
the demand being induced by heavy clear
ances at the seaboard May opened = cent
lower at 29Ia cents sold up TO 2924a29B
cents, and closed at 29l2 cents. Local re
Ceipts We're l1S cars.
Provisions Strong.
The provisions market was strong because
of a 1O-cent advance in the price of live
hogs and a large increase in shipments OF
meat and lard. The covering by shorts In
pork was a feature of the day. Pork and
ribs were strong throughout the entire day,
the close on May pork being up 25a2Ih
cents at $40. 80 Ribs were up re cents at
So 271a cents Because of moderate profit
e.. I'D oh
off a shade at S7.S21aa$7.S5.
Estimated receipts for Monday are:
Wheat. L cars; corn. APT cars; oats 15l
cars; hogs, 81 goo head