St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-11
Chicago Markets Were Obsti-
nate in a Downward
Direction.
Need Rains and Fine Weather
in the Wheat Belt Were
the Factors.
Every Article Traded in Felt
the Logical Effect Of
the Reports.
Activity and Advances Mark
the Days Trading in
Wall Street.

CHICAGO, Nov. 1O-There was SIGHT but
obstinate decline in the wheat market from
the opening to the close to-day, end the most
herculean efforts to brace up prices were eff
fectual only in securing temporary rallies
which were quickly dissipated by the sue
ceeding rush of sales. To-day's decline, how
ever, was logical one. and was caused by
what IS gladdening the heart of every Amer
lean farmer, however depressing it may be 10
some of the heavy traders-general rains
throughout the great wheat belt and con-
tinued mild weather. The drop of to-day
would have come yesterday but for reports of
cold weather indications. Traders realized
that freezing weather would be disastrous to
the sprouting crop after heavy rains, so this
feeling continued with strong cables Kept
prices up yesterday and even worked an ap-
preciable advance.
To-day's opening found the cables gu tie q
strong as Yesterday but the Chicago trader
failed TO take his inspiration from Liver
pool and Berlin markets to-day and the cold
wave scare having subsidized. the Inevitable
decline came. Subsequently cables weak
ened, doubtless on reports of decline in
American markets, and the amounts of wheat
and Hour on ocean passage showing increase
of $4,000 bushels, contributed also somewhat
to declines. New York was a free seller
from the start, though Logan, Schwartz
Dupee, Milmine-Bodman and others were
buying. while Mitchell. Harry Lester and
other local operators were also on the selling
side, and the long wheat took on Yesterday
came out freely. The clearances from four
ports yesterday aggregated SOL 900 bushels.
wheat and flour. Local stock Of contract
wheat increased 40S { co bushels making total
III store here 3,U2J,Oj0, against ., 10000 bush
els year ago. New York reported thirty
loads taken for export. Freight room for
266,MO bushels was engaged here to-day.
1t is claimed that Russia would prohibit
the expectation of wheat after Nov. H. The
imports and English farmers deliveries in
the United Kingdom exceed the estimated
consumption by about 200 200 Du. Home
markets lower. Arrivals in the Northwest
were free. Receipts at Duluth were So cars,
and Minneapolis 473 cars. total of 1,0l9
cars, against 2,29i cars yesterday or 16S cars Il
year ago. Local receipts were 467 cars. of
which III cars were Of contract grade;
Withdrawals from store. 4t.7lS bu. Receipts
ut all points aggregated > 3)5 br, and ship
mentS from same were LID. 633 on. The ex-
port clearances from four ports were 1890
bbls of flour, and 81. IS bu of wheat The
opening was about 40l3c lower tn III yes
terday's closing, and with only slight fiuctua-
TONS declined 14c more, then recovered
slightly, again ruled easy, and The closing
was about IS4G12c lower than yesterday
Corn opened strong and higher the bun
clique evidently bidding the market in order
10 unload. But when they attempted to do
so there was quick collapse and drop of la
ale, with but little subsequent recovery
CasterMartin and Bartlett-Frazier were the
best bidders at the start, but the selling and
the weakness in wheat soon turned the tida
November corn, which Yesterday closed at
57sc, Openedsthis morning anywhere from
5jl4c TO 5@S4c, but by noon had receded 10
54s4c. Year corn, which sold in the. opening
scramble at from 4Sc to 4SI2c, declined in the
same time TO 41c, and May from sac early
sold off to 444c. The weakest phase OF the
market was toward the close of the session.
November sold as low as sac and closed at
that; year and December declined to 45I.c,
leaving off at the lowest point, and May
touched 455s0t.54c and closed at 45s4c bio.
The oats market opened firm and Isc high
er. at 32s4c for November and J5s4c for May,
these being the high prices for the day. There
was considerable realizing, and November
sold off to &c, closing ssc lower at that fig
IRE. while May, after several ups and downs,
reached boston at 327sc. that being the clos
ing price. 1t indicates & decline of sec. Re
ceipts were 341 cars aud 30, 753 bli.
Hog products were weak with packers
free sellers. January pork sold early al S11.3J
GILLETTE, broke to Sl1.25, and at 10 O'Clock
was S1l.27la. January lard SOLD from $3.50 ID
S6.25. and January ribs from SjSj 10 S571l2.
Weakness was ruled during the last hour,
pork selling TO SlL20 January lard to S. 22l2,
and January ribs to 1915.
The leading futures ranged as follows: