St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-14
WHEAT CLOSED FIRM.
PROSPECTS FOR THE SMALLEST CROP
FOR A NUM3ER or YEARS.
VERY HEAVY EXPORT DEMAND

Prices Now Lower Than Since the
Panic of 1S57-Corn Stronger,
Closing With an Advance
( Light Trade in Provisions
Stock Market Erratic.
| fCHICAGo, July 13.-Today's closing
cables gave advances at Paris and Ber-
lin and steadiness elsewhere. This.
with revival of the feeling that wheat
was unduly depressed from illegitlmate
| causes, caused the market here TO leave
off firm, though final prices were 18@4c
/ lower than at yesterdays close. 1t was
being pointed out that the crop prospect
is the smallest, with one exception, since
1877; the export demand is said to be
the heaviest on record, with one excep-
ation. and the price the lowest since the
panic of 1857.
Wheat started shade better on the
stronger Liverpool cables and gen.
eral bull feeling growing out of crop
damage rumors, but the demand was
soon satisfied. Offerings were gener-
Gus, trade slow, and when the cool
weather was reported in the Northwest,
quieting to a considerable extent the
apprehensiOnS of hot winds in that re-
giOn. the feeling became decidedly
heavy and prices went off. The Cincin-
NAH Price-Current's crop summary was
far from favorable concerning wheat,
but this for time did not appear to
have any influence. Cudahy and Rum
SeyChandler were the principal SELL
ers. The market opened at B04c adj
vance, declined 114c, improved slightly,
held steady, and the closing was 4@3sc
lower than yesterday for September
and 15c lower for December than yeSter-
day. A report that the officials OF three
leading railroads covering the North
west had compared information, and
figured ont but Is, 900, 600 blu, mostly in
ferior wheat, for Minnesota and the Da-
kotas was not generally believed. but
was useu as bull argument near the
close. The same assertions earlier had
helped the bears by weakening Wall
street quotations, and thus indirectly
affecting wheat.
In corn first trades were at a trifle ad
vance, the price selling up H@14c more
soon afterwards. The dry weather
map, and fear that if rain does not come
soon there will be damage by drOuth
and hot winds in parts of Kansas and
Nebraska. acted as strengthening fac
tor and helped sustain the price. AT the
receipts coming in larger and wheat
turning down. the market sold off 40
&c. ruled stronger, and at the close was
| 4@35c higher.
OaIs were weaker, especially July,
which was sold freely by parties who
have been the leading buyers of late,
and there being less than the usual sup
port prices receded 1c from the opening,
and closed at net loss of &c. The new
| crop futures declined &c for September
early, but reacted 4 C and closed steady.
Trade in provisions was light, but
prices were firm. The hog market had
improved on smaller receipts. Lard and
ribs commanded some better attention,
but pork was boycotted. Compared with
yesterdays closing prices lard is from
TO- to 1219c higher. and ribs advanced
| 10c. Pork Is l5c lower.
/ The offerings of vessel room were not
| largo and the demand moderate. Rates
remained unchanged. at lie for wheat
and corn to Buffalo. Estimated receipts
tor tomorrow: Wheat, so oars; corn, 435
cars; oats, 100 cars; hogs, 10000.
The leading futures ranged as follows: