St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-12-19


CHICAGO, Dec. 1S.-Wheat dropped
: sc today, and May broke all records.
landing az CSC, the lowest it ever sold
for before. The cause assigned was the
heavy increase in the visible supply.
Corn and oats went down in sympathy
with wheat, and because of their own
TOO liberal receipts. May corn is &c
lower, and May oats @5c off. Provisions
also suffered a sharp break.
Wheat opened with MAY re down. at
675Sc, but. with Northwest receipts light
compared with last weeks movement.
and very light coli. pared with last year,
advanced 10 yesterdays closing price.
The amount on ocean passage was IN
changed, and the Liverpool market was
quoted by a private cablegram as firm,
with upward tendency. which WAS
said 10 be due 10 decreasing Russian
exports. This held prices steady for a
time. cut as the returns came in the in
dicatiOns were for heavy Increase IN
the visible supply, and with conse-
Quent selling the market began 10
weaken. Prices went down until &c
was reached. un0er the constantly in
creasing indications OF an increase.
The returns were slow in coming in. but
when the report was posted it confirmed
the worst fears of the bulls, ana the ex-
pectauOnS OF the bears were more than
fulfilled. Instead OF an increase not to
exceed 200, 900 bu. as looked for. the in-
crease amounted TO I,345, 900 bu, leaving
the total at 50. l2S, 0OO bu, compared with
$500, 900 bu al the corresponding date
Of last year. Chicago stocks Increased
$4,000 bu, Minneapolis 597, 600 bu, and
Duluth 364, 600 bu, ali Increase OF .364,-
900 bu at The three places. or about
equal 10 the entire increase, leaving the
stocks al all other points as about bal
Rncln2 each other. Immediately fol-
lowing the announcement there was
another drop IN prices. The export
ciearances were added 10 the bearish
news OF the day, showing exports of
but lI2.000 bu Of wheat and -four al the
four principal Atlantic ports and New
Orleans. There were few rallies on
buying al the low prices. but the weak
ness OF the market continued untIl the
bell put an end 10 the bulls misery. and
May closed a. the bottom figures of the
day. May opened al 6T1sc, advanced
&c. sold of sc, rallied re, lost &c, and
declined another quarter 10 eIose at
665zc.
Corn started with May &c of al 3954e.
Receipts were 5l2 ears against the esti-
mate OF 425, and this. with the weakness
ID wheat, sent The price down until
May reached 3S5.c 1t rallied &c at
the enc 10 close at ,j9c.
Oats v ere firm al the start. May open
ing but 3 c lower al 3G&zc, when it held
steady for Tine. The weakness IN corn
was against the market, however. and,
despite liberal buying by Irwin-Green.
Walker Il Wren ana others. May sold
OF steadily and closed al 3C1Lc, but &c
above the bottom figures OF the day.
Provisions were dull, weak. with
packers selling. and Influenced by the
extreme weakness in the grain pits.
Compared with Saturday night. Jauu-
airy pork is 275zc lower, January lard
i755c lower ana January ribs 15c lower
The reduced rates 10 New York went
into effect today. I755c per 100 pounds
On nonI and grain, 2Dc for provisions.
On Jan. l they UIll be advanced to 25c
on -four and grain and SOC on proYis-
Ions.
Estimated receipts for tomorrow:
Wheat, 100 cars: corn. $50 cars; oats, go
cars; hogs, y, GG0.
The leading futures ranged as follows: