St. Paul daily globe., 1895-05-14
BIG SHIPMENTSFROM RUSSIA
SLIGHT DECLINE FOLLOWS An
NOUNCEMENT, BUT QUICKLY
RECEIVERS.
LIVERPOOL CABLES HIGHER.
July Corn Moves Up Slightly, Oats
Decline, While Provisions
Gain.
CABLES HIGHER.

Chicago, May l3.-aelped py
crop damage reports, wheat resisted
bearish news and liquidation today,
winding. up with a gain of INC for
July. July corn gained 5sc, July
oats lost nc, and provisions made
slight gains.
Wheat opened at a slight decline,
partly on account of the change from
unreasonable heat to comparative cold,
being considered rather beneficial
than otherwise for the growing crop.
The weeks shipments from Russia
amounted to the unusually heavy
total of 100000 bu, and that infor-
nation was in the hands Of people at
the seaboard before the opening,
but did not become public until half
an hour after, and then it was dis
covered by those who had sold it
upon their advance information re-
garding the Russian shipments that
they has misea1culated its effects upon
the crowd. From 64c and 64Ac at the
opening the price Of July wheat had
gradually risen to around 645sc, and
was at the latter point when the Rus
sian shipments were made known,
but the price broke to 64asc only at
that time and again recovered to it's
previous highest point, although
it had another and further decline
later. The visible supply statement
showed a decrease of 2,573,000 bu,
against 1,646, 600 bu on the correspond
ing week of the year before. The mar
ket came under the influence of heavy
shipments from other countries and
the price of July dropped to 63Bc in
hurry, burt made even greater
haste in getting back to higher
point than before. From $3.50 it ad-
vanced to 65Ac in about fifteen min
utes. Export clearances Of wheat
and flour since Saturday from At
lantic ports were 191, 900 bu. The pri-
mary market receipts were 225,00O bu,
compared with 266,000 bu on the cor
responding day Of the. year before.
The opening cables brought higher
quotations from Liverpool and Berlin,
but owing probably to the heavy
shipments headed toward them last
week they lost about one-half of their
early gain.
Crop reports from Illinois, Michigan
and Missouri were very unsatisfac-
tory. Every commission house with
in those states had reports
of poor, and in many cases very poor
prospects for winter wheat. Kansas
is reported as being already complete
ly out of the count among the winter
wheat raising states this year. The
poor crop prospects and the disap-
pearing visible was too strong for the
short sellers. The price advanced near
the close to 651Ac and wound up at
653sc.
Corn was dull and firm without
showing much independence of action.
It had a range in price for July of
from 503sc to sic and closed within
Lice of the top, the closing strength
being due to sympathy with the firm
ness of the wheat market. The sea-
board sent bullish dispatches and re-
ports of some export inquiry, and
clearances of 100000 bu from Newport
News. The visible supply decreased
l 1873 900 bu compared with decrease
of 1,439,000 bu a. year ago. The local
receipts were 266 cars.
A fairly active market was reported
for oats. The tone was easier on all
deliveries with the exception of Sep
tember. There was a very good de-
mand for that month and at the close
an advance of Bc was scored. May,
1896, was also very strong under good
buying.
Provisions were without life or in
terest, and an advance in pork of sc
and in lard and ribs of 214c appeared
to be due entirely to the strength in
wheat. Hog receipts were 10000. Ves-
sci rates firm with good demand. Char
ters for wheat at 1Ac, and corn 11sc
to Buffalo.
Estimates for Tuesday: Wheat, q;
corn, 440; oats, $50; hogs, 21,OO0.
The leading futures ranged as fol-
lows: