St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-17
WHEAT MANAGES TO KEEP IT'S
PRICE AND GAIN A QUAR-
TER CENT.
PLENTY OF MAD BREAKS.
FREQUENT SUDDEN DECLINES
OF ONE CENT AND TWO
CENTS.
RALLIES FOLLOWED RAPIDLY.
One Firm Buys 100000 Bushels
and Throws it Bodily Ola the
Market.

CHICAGO, July 16.-The grain mar
ketS We're very irregular today, but IN
the end the shorts had the worst end
of it, although not to any extent. The
spring wheat crop is getting down TO
quite moderate proportions; good de-
mand for cash wheat, and small farm
erS' deliveries from the new crop
caused only 14c per bushel advance in
wheat September corn closed I'M
changed; September oats 1sc lower, and
provisions at declines. For no reason
beyond the speculative tactics OF one
or two of the bear leaders in the mar
ket, W neat was depressed on the curD
before the opening to a, little below the
price it closed at yesterday. September
was offered at the commencement OF
the regular session at from GSc down
to 6724c. Before it received sufficient
support to turn it up it had sagged to
67%sG6772c 1t rose from the latter
price to 6S5sc, and from that it declined
again to CSC, with another rise to 6o9sc,
and a fall to 613sc, all those changes
occurring in the firSt two hours OF the
session. The news from the Northwest
and the slow movement of new winter
wheat to market were enough to JuStl-
fly the several slight bulges. The mar
rowness of the trade continued for
some time to permit the opposition OF
the few big traders referred to to be
severely felt. and the numerous at
temptS the market made to run away
receipts only rs under contract. The
Minneapolis and Duluth receipts We're
165 carloads today, against 325 a year
ago, but it was not until after Brad
streets statement Of the week S
changes in the stock of the world
came showing a decrease of 3,171 600
bushels, that the price again made a
bolt from the controlling influence of
the crowd which is selling wheat I'M
der the influence of John Cudahy. 1t
a. .l.,t
port from 671ac to 68Ac. The bears were
enabled to break the price to 67l2c be-
fore the last rise mentioned because
of the Russian shipments for the week
proving to have been 100000 bushels
instead of $500, 600 bushels, as cabled
yesterday, and the total shipments for
the week from all exporting countries,
9,O37, eco bushels, instead of about $780,
coo bushels, as estimated on the pre-
ViouS day. Lower cables helped them
also. Paris was confines lower, and
Berlin from y mark to l mark higher
Export clearances from the Atlantic
seabOard amounted in wheat and flour
to about 117,000 bushels. The narrow
ness of the market and local charac-
ter OF the trading may be judged from
the fact that the selling of 300, COO BUSH
els by broker for Cush Clifford caused
a break of 1c per bushel. The wheat
was sold at Csc, and the buyers sud-
denly discovered that they had no use
for it, and in getting rid of it broke
the price to 66SQ6lc. In fifteen min
utes it had recovered to CSC again. A
good inquiry for shipment was the lat
est support to the market; about $50, 900
bushels, or perhaps 800, coo bushels, was
reported sold. The Minneapolis Mar
ket Record estimates the wheat crop
of the three big Northwestern states
at $40, 600, eco bushels, which would indi-
cate a total crop, with winter and
spring together, of not over $40, OO0. 900
bushels, making the very liberal allow
ance of 20,000,O00 bushels for spring
wheat outside of Minnesota and the
6S06S1sc
corn was a very ragged and peculiar
market. 1t was the May shorts who
were regretting they had not previ-
ously bought instead of having sold
hot winds, it was reported, were dam
aging the hitherto magnificent growth
OF the crop in Kansas and Nebraska.
the May shorts took in a lot of their
contracts. September was COMPARE
lively quiet, and while May closed with
an advance of 1c per bushel,
4515c, closed at 4574c, or at the same
as on yesterday. May closed 373sc.
after selling as high as 371bc. Today's
receipts We're 2oS cars. Contract corn
here is reduced to 100000 bushels.
Trading in oats was only fairly &C.
tive. Fluctuations were confined to
rather narrow range and ruled easier
during the entire session. September
ranged from 23ssc to 231sc, and closed
at 23Ac- Today's arrivals aggregated
1S7 cars 135 of which graded contract.
Provisions were subjected to another
raid today. The local shorts are look
ing for stop loss orders and expect to
bring them out by shouting the price
down. They caught a few today, but
not enough for the full extent of their
purpose. good many of today's
transactions were for January deliv-
cry. September pork ranged from 81
down to S10.60 and closed at S10S5, {.
decline of 1715 cents; September lard
declined IL cents, and ribs cents.
The hog receipts were $1,000 head, and
$4,000 head are estimated for tomorrow
Estimated cars of wheat, 46; corn,
10; oats, 80; hogs, $4,000 head.
The leading futures ranged as ful.
lows: