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Show WHEAT OPENS WEAK; is nioini close Reports of Heavy Damage to Crop in Argentina Create Bullish Sentiment. CHICAGO, Oct. 30. Tho wheat market opened easy, with prices llc to i&ic lower, low-er, duo to unexnected weakness at Liverpool. Liver-pool. Moderate" demand by a leading elevator ele-vator lntorost caused a rally durfig the first part of the day, but .no decided strength developed until within tho last hour, when sentiment became bullish as a result of the alarming reports from Argontlna regarding tho condition of tho new crop of wheat. Thcwc reports brought out active covering by shorts, which caused the market to closo nt almost the top point of thft dav, with December at J1.00aa)1.00g, and May at $1.03. The most Important of these dispatches was one rcculved from a supposedly reliable relia-ble source, which placed tho injury to tho Argentine crop by recent frosta at 30 por cent of the entire crop. Anothor report estimated that the amount of this year's crop avallablo to export would bo nearly 50,000,000 bushels leas than the exportablo surplus of ths provlouB crop. The markot was also considerably strengthened by tho cash situation In the Northwest. Premiums Premi-ums on cosh wheat at Minneapolis mado further advances today, No. 1 northern selling at 3c over tho Decomher delivery. Tho bouthwost also reported a brisk demand de-mand for tho cash grain, with offerings from tho country much lighter. Weuthcr conditions were again favorable to tho sown crop and for the movement In the Northwest. Export demand was dull. Clearances of wheat and flour were equal to 545,000 bushels. Exports for tho week, us shown by Bradstrect's were equal to 5,464.000 buslicls. The corn market closed at almost the best prlcos of the day. An advance of i55' 1c In the price of new corn at tho sample table also had eomo influence. December closed a shade higher than yesterday at OSSilc Oata displayed some activity and strength in tins lato cession and gains of JfniRc, with December at 482c and May at I 501c. Provisions were rather weak early In the session, but becamo firm late in tho day. At tho close prlcc3 woro 21c lower to 22Jc higher. RANGE OF THE LEADING FUTURES. Wheat Open. High. Low. Close. Dec 992 l.OOfi 995 1.001 May .... ... 1.031 1.04$ 1.031 1.04 July 95 931 97 J 981 Com Dec 635 64 038 083 May 63 63 63 631 July 625 G2g 02n 622 Oats-Dec Oats-Dec 4S1 I8Z 431 -ISii May 50 50B 491 501 July 45S 45$ 45i 45j Mess pork, per barrel Oct 14.10 11.25 14.10 14.26 Jan 16.00 16.171 16.00 10.15 May 15.821 16.00 15.S25 15.971 Lard, per 100 pounds Nov 9.40 9.471 9.40 9.45 Jan 9.371 .60 9.37 9.474 May 9.45 9.676 9.45 9.521 Short ribs, per 100 pounds Oct S.75 8.95 8.75 S.90 Jan 8.40 8.50 S.10 S.47j May 8.50 S.60 8.50 8.60. CASH QUOTATIONS. Cash quotations wero as follows: Flour steady: No. 2 spring wheat, SI .01 : No. 3, S2cg?$1.04; No. 2 rod, 99!cS1.00; No. 2 corn, 691o; No. 2 yellow, 7o1f761o; No. 2 oaL, 471c; No. 2 white. 50Jc; No. 3 white, 461tff.491c; No. 2 rye, 74Q)76c; ood feeding barley. 62163c; fair to cholco malting, 55Si'i)0c; No. 1 ilaxseed, northwestern, $1,291; prlmo timothy seed, 53.50: short ribs, sides (loose), $5.609.121; mess pork, per barrel. $14.2Bfi?14.37; lard, per 10o pounds. $9.50: phort clear sides (boxed), $9.25(0)9.50; whiskey, basis of high wines, $1.87r RECEIPTS AND SHIPMENTS. Rftcelpts. Shipments. Flour, barrels 346,000 216,000 Wheat, bushels 95,000 167,900 Com. bushels 66,400 191,900 Oats, bushcl3 22.600 261,600 Rye. bushels 15.000 4,200 Barley, buehols 104,300 43.700 PRODUCE EXCHANGE. On the produce exchange today the butter but-ter market was steady; creameries, 205) 27c; dairies, 18ff'23o: eggs steady; at mark, cases included, 19ffJ)22c: firsts. 26c; prime firsts, 27cj chccHO steady, 12lJ?13!c. |
