St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-16
HIS STOCK OF SHORT WHEAT
EXHAUSTED AND SEPTEM-
BIER RISING.
PRICES RUN IRREGULAR.
DECLINES FOLLOWED QUICKLY
BY GAINS, AND THE BULLS
FINALLY WIN.
EUROPE SOON TO BE IN WANT.
Expectation That There Will Be
Heavy Demand for Wheat
From Across Water,

CHICAGO, July 15.-Wheat, after a
break OF 1ac on vigorous selling by
short interest, took courage from the
bad crop reports and liberal visible
decrease today, and closed at an adj
vance of 1850 for September. Septem>
Der corn closed CSC lower September
oats unchanged, and provisions show
slight losses. The morning papers gave
prominence to some reports of dam
age to spring wheat. That started the
price up from 661sc at the close Sat
urday to from &c to 67$sc at the open
ing this morning. The higher of those
quotations was realized for only two or
three fives, but a good deal changed
hands between the prices of SIC and
6IAc. In half an hour from the start
the price had declined to 65%c, and not
until the visible statement was pub
ished, showing a decrease of 2,122, OC0
bu for the week, did the price show
much capability of recuperation. Even
then 1t only recovered about &c per bu
before it was again smothered with
more snort wheat. A general disbelief
In serious damage to the spring wheat
crop was the governing feature of the
news that melted the selling The
reports from the winter wheat country
continue to be of the game very dis
hearten1nG character as has been the
case for such a length of time Toledo
letters say they do not expect to get
any wheat there from Indiana, and
and Ohio for supplies The reports
from the two latter states do not fur
nish the hope of much wheat being
procurable there either. The foreign
markets were all quoted lower at the
opening, and the closing cablegrams
were of a similar character. LIVERPOOL
declined I'D, Paris from Is to 20 cen
times, and Berlin q. The visible sup-
ply now amounts to Il ,237, 900 bu, com,
pared pa with 50, 154, 0G0 blu a year ago. and
9s,ozo,Wo BY at the corresponding
are falling off. They are estimated at
about S,5O0,U0 bu for last week. They
nave been running at from 5000. 600 bi,
TO II, O5O,C10 bu for about three months
previous. Should the Russian and Ar.
propoCtionately for a few weeks. Eu-
rope viii have to bid openly for Amer
lean wheat, instead of having 2GOO 600
pu thrust upon their unwilling hands
weekly, as 1t is now being made to
appear After the early decline to
6o9sc there was a recovery TO $3.50 and
several times after that it fell and rose
between 691a and sc. In the latter half
oI me session some reports from the
Northwest were received which con-
odllceu the crowd of more serious dam
age TO spring wheat than the Minneap-
Oiis people were willing to admit.
Cudahy's brokers, who had been Nor.
slstent buyers at anything over &c
tpuilo more buyers late in the day than
eney couId supply, and when their
the price of September shot up repiiiv
IRON from around 651s to 6SAc, and closed
at 7215c "' iiiaoe
se NTH the the execution of quite heavy
market was almost entirely without
features: The aforementioned firm
dlsposed of about 100000 bushels of
May. The tone of the market was
ABOUT steady At the opening slightly
on, decline followed and prices closed
ABOUT steady. September started at
sac. sold to 2S1ac, back to 23c and
ended at 23ssc.
Corn was only moderately active, and
was weak. Spectators have become
afraid of the September deal and ali
new business now seeks more remote
delivery. December and May are now
the. favorite with short sellers. Sew
eral times today it was almost impos-
d1scounting the nominal market price
from NC to asc per bushel. The bril-
liant prospect for new corn was the
governing factor. Receipts were 1870
cars, and Withdrawals from store, 49,
600 bushels. Argentine exported 72S. O0O
bushels of corn last week. Estimated
receipts for Chicago tomorrow are $50
cans. The visible decreased 941. OG9
bushels and now amounts to 6,SS2, 600
bushels, against 3,9320 bushels a year
ago. The market was strong near the
opening, September selling at from
46Ac to 469sc; It declined to 45c, bu,
flrmed up in sympathy with wheat
near the close and rested at 4534c May
declined &c.
Provisions were dull and easy, but
not radically weak until near the close,
when drive was made at the market
by short sellers. 1t failed as regards
wheat, but caused pork to close at a
lc,ss for the day of 10 cents, lard and
ribs 21a cents.
Estimates for Tuesday: Wheat, 140
blu; corn. $50 bu; oats, $50 bu; hogs,
1900 head.
lows: