St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-23
WHEAT QUITE FIRM.
EXPORTS F0R THE WEEK LARGEST
or THE YEAR.
FIVE MILLIONS SENT ABROAD.

The Bottom Knocked Out of the
Stock Market-Depression Due
to London H~eayiness and Bear
Activity-Steady Shrinkage All
Along the Line.
CHICAGO, July 22.-The wheat and
corn markets today struggled against
breaking banks, ana emerged smiling
with a gain of &c sticking to wheat,
and 1c to corn. Very bad reports of the
out-turn of the oat t%hrashings gave that
market a lively hoist also. The weak
sister among the speculative markets
was provisions, which declined, although
hog receipts were light.
The heavy exports OF wheat, an cunt
ing for the week to the enormous total
of 5.017 200 bu was the chief element of
strength.
The market at the opening was about
4@$5c higher ana advanced sc more,
then became weak, and, with slight
fluctuations, declined about &c, rallied
again. and the closing vas firm at the
top prices Of the day. The market
opened up strong OH the big cIearances
for the week, but weakened off on the
bank failures reported at Milwau-
kee. The closing was strong on
an Increased export business here.
some 213,000 bu being taken. Oper-
atorS were not disposed to sell wheat
freely at the current prices, and there
seemed 10 be fair buying at around 66
cents for September. Shorts seemed to
be covering. it was estimated that the
visible supply would show a decrease
OF about 1000, 900 bushels. Advices
from many points in the winter wheat
districts say that the farmers are stack
ing their wheat and that the movement
will be light. The receipts for the
week at the eight primary points were
1000, 900 bushels smaller than the cor
responding week a year ago.
Corn was moderately active with a
stronger feeling prevalent. Market
opened at yesterdays closing figures
and soon sold up sc on good buying by
some of the larger receiving concerns,
some of whom were short, several large
lines changing hands. 1t is claimed
that drOuth is commencing to work some
injury in the central portion of this state
and in Northern Indiana and ONO, but
outside of these localities little COM
paint is heard. The weather caused
shorts to feel uneasy and anxious and
many covered III consequence. Market,
after the early upturn, went back &c
with the decline in wheat, but rallied
again. selling up sole and closed with
X@l35c gain. The withdrawals from
store were again large at 563, ITO bu and
a good cash demand Is said to prevail.
There was a better feeling i'll oats, the
offerings being lighter and the demand
larger. Opening prices were at nearly
the lowest prices except for May, and
the close was steady at the top, with a
net gain for the day of SOLE, the Sep
TENDER being the strongest. There was
a better demand from shorts, owing to
continued reports of rust in Iowa. and
the late strength i'll corn also helped the
market.
Provisions opened a little higher on
smaller receipts of hogs than expected,
but the bank news from Milwaukee
caused a weak feeling. There was but
little trading. At the close, compared
with last night, pork was nominally I'M
changed, lard 15c lower, and ribs 719c
lower. g..
Freights we're dull and easier at l$S
@l13c for corn TO Buffalo.
Estimated receipts for Monday:
Wheat. 140 cars; corn, 515 cars; oats,
25G cars; hogs, 21,000.
The leading futures ranged as follows: Fl