St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-18
LOWER
WHEAT, CORN, OATS AND PRO-
VISIONS SHOW A SLIGHT
DECLINE.
OUTSIDE ORDERS SCARCE.
ALL THE BUSINESS LOCAL. WITH
A DEAL OF SHORT SELL
ING.
LIGHT FROST PREDICTIONS.
Stories of Gold Shipments and
Reduced Export Demand As
sist the Bears.
OUTSIDE ORDERS SCARCE.
LIGHT FROST PREDICTIONS

CHICAGO, July 1.-THE wheat and
corn markets To-Day opened strong ana
closed weak. Compared with the maj
quotations of the day before, wheat
is &c, corn sc, and oats 1sc lower.
Provisions were moderately active,
and lower in the END. The break in
wheat was the result of the absence OF
export demand, rumors of gold ship
mentS and liberal short selling. Inc
trade in wheat was of the same local
scalping character as was reported
yesterday. Orders from outside were
as scarce as good crop reports. The
Greg conditions Influenced the first
transactions; after that the short sell
ers became the governing influence,
and sat severely upon the spirits OF
those who might otherwise have been
buying wheat. To add to the troJbles
of the spring wheat, the weather bu-
reau reported light frost probable in
Minnesota tonight. The receipts were
much lighter than at the correspond
ing time last year. The New York
people are becoming impressed by the
inferior quality Of this seasons VIM
ter. wheat, and are buying old No. 2
red in Chicago, which will be shipped
in due course TO help bring up the
average of the poor stuff they expect
to have to handle from this seasons
crop. They are buying the cash grain
here at a discount of 14c per bushel
under the price of the September fut-
ure, and selling the latter against their
purchases of the spot grain. Receipts
at Minneapolis and Duluth were 121
cars, compared with 234 cars on the
corresponding day last year. Chicago
received 40 cars, AZ of them being new,
and only 6 cars of the latter inspect
ing contract. The exports from the
Atlantic seaboard were again disap-
pointingly light, amounting to only 49,
0C0 bushels Of wheat and 1900 barrels
of -four from the four principal At
lantic ports. Liverpool and continental
markets improved somewhat probably
due to yesterdays firmneSS here. Sep
TENDER opened unchanged at Csc, and
after bulge to 6S12c, dropped 1c, and
hung about 6114q6T12c during the latter
part of the session. In the absence OF
any business from the outside the To-
cal short sellers were about to SUD-
ply to their neighbors all they wanted
to buy, and had still some short wheat
to spare after the others had been all
filed up. That was the reason for the
weakness in the end. September after
selling as high as $3.50, declined to and
closed at 671Ac.
The corn pit was divided in opinion
on the reported damage from hot winds
in Nebraska and Kansas. Early in
the session the damage was appar-
entity taken seriously, but later it was
receiving very little credence. The
frost was an item in the influences
this forenoon which caused May corn
to jump to 3S$4c, from around 37Hc
The decline in wheat near the close
was adversely affecting corn at the
same time. The lowest prices of the
day We're prevailing between the last
morning bell and the closing signal.
The range in September was from
46lsc down to 45Ac, with 453sc the pre-
yailing price at the close. In May the
range was 3S14c to &c, and the closing
price 371Sc The receipts today were 109
cars.
In oats business was only of an orli-
nary character. The tendency of the
speculative market was toward east
ness, and lower values were found.
although during the early part of the
session slight advance was scored.
Fluctuations were ruled principally by
the wheat and corn markets Septem-
Der opened at 23Hc, sold up to 235sc.
down to &c, and closed at 234231sc.
provisions opened firm and trifie
higher in sympathy with the early
strength i'll wheat and corn They be-
came subsequently weak, revived
again, and finally closed at a slight
decilne in pork and lard, but a trife
hlgher for ribs. The closing price of
September pork was $1070, against
s10.S5 on the day before. Lard for Sen
tember is $3.50 now, against IS 321b to-
DAY, and September ribs are 81. M
against s6.121a@6.15 yesterday. Hogs
Receipts today, 5000. Estimates for
Thursday: Wheat, 60; corn, $50: oats
125; hogs, 5000.
The leading futures ranged as t,,,-
lows: