St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-10-25
RESULT WAS SLIGHT BREAK
Wheat and Corn Both Closing
at q Decline--PrOvi sionS
Weak.
STOCIS WERE STAGNANT.
SpaculatorS.fOr Some Reason,
Seem to Be Wary Of the
Market.

CHICAGO, Oct. 24.-Arter a strong
opening i'll the wheat aud corn. they
both became very weak and closet with
respective losses of nc and sc per
bushel. The oats and provision marke5
were even heavier than wheat and corn.
oats losing &c per bushel and pork 35c
per barrel.
The weakness In wheat was largely
caused by heavy Northwestern receipts
and improved reports from Argentine
crop and other markets followed. Wheat
was in good demand at the open ing at
a over its value at the closing hour
yesterday. There was but one point in
the early news which was distinctly
encouraging to the bulls, and that
was an advance Of % per quarter
in the value OF Argentine wheat on pas
sage. Yesterdays reported decline of
Cd per quarter in that description of
ment to the bulls. and today's amended
or improved price was all the more en-
couraging. therefore. from being totally
unexpected. The bears in the market,
who were short, displayed good deal
Of timidity for few minutes and did
not cease buying until they observed
that Partridge had his granary open
and was shoveling more wheat from it
in among the buyers than they were
likely to stand very long. After keep
ing December at from 5311sc to 53Lc for
a minute or two it sold down to 53c. but
had to submit to worse break at about
a half hour when it dropped quickly to
2s4@52Tc. May, in the meantime, had
declined from So 11s@5S14c at the open
ing to 575sc.
Northwestern receipts were again
large and cables were generally dull.
Notwithstanding the reported advance
of Cd for Argentine wheat, New York
dispatch said that cabIegram from
Liverpool quoted an easier feeling at
the close on account of improved re-
ports from Argentine. The market
here was weakened Ivy what came from
New York on the subject referred to.
May wheat closed at 5711a @572s, and De.
cember. 52$4c.
Receipts CT corn were 100 cars, COM
pared with the estimates Of 72. EN-
pected receipts tomorrow are ITO cars.
The market held up to or over yester>
days closing price until about forty-fve
minutes from the close, at which time
tutTc WIS WEAKNESS OH account OF the
declining tendency of wht at The low
est prices of the day werc current at
the close. May opened at 5Oa5c and
closed at 1919 @49%c.
The shipping demand which caused
the firmness yesterday was evidently
exhausted, as there was none whatever
today. Business was moderately active
near the close, rather dull previously,
but nervous and easily Influenced by
the buying or selling of moderate uua,l-
titles.
Trading in oats was still dull and
prices suffered another decline. Out
side orders were limited. and what little
business was doing was all scalping and
local. The continued weakness was
partly Influenced by a like falling in
corn, although very heavy cash mar.
ket was principally influential. May
started shade iirmer at 322S(032Ac,
| sold off to 321sc and closed at that price.
| A run of $1,000 hogs today and $1,000
| estimated for tomorrow were too much
for the provision market. Long and
| short clear bacon was quoted Is lower
| in Liverpool and the domestic demand
| for spot good was reported to be very
| limited.
| For those reasons, aided by hostil-
lty to the bull side evinced by packers,
the market ruled very heavy and prices
had severe break. Pork closed with a
loss of 35c and lard and ribs each l714c
| Freight rates to Buffalo 1c.
| The leading futures ranged as follows !: