The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-04
CHICAGO WHEAT COURSE IRREGU-
LAR, But THE NET RESULT
AN ADVANCE.
EARLY PACE SET ABROAD.
THE MARKET OPENED FIRM AND
CLOSED A CENT AND A
HALF UP.
scALrERs' DAY IN THE CORN PIT
EIuctuations Were Rather Narrow
and Based on Puts and Calls
Provisions Higher.

CHICAGO, Dec. 3.-Wheat pursued an IT.
regular course today, but in the end was l3sc
above the price it closed at yesterday. The
advance was due to the foreign news which
generally was of a Strengthening nature. Corn
and oats were both favorably affected and
closed higher. Provisions also advanced a
trfe. Liverpool again controlled wheat prices
at the opening today. The opening tone OF
that market was less responsive to the decline
here yesterday than was expected, the de-
cline at Liverpool being only I'D. This lack
of sympathy abroad with our depression, and
the fact that Northwest receipts were again
very small, while not entirely changing the
bearish feeling predominant before the open
ing encouraged brokers sufficiently to start
prices at a decline OF only 3sc to Zee, May
opening at S17s6S2c chiefly around SIC. These
favorable factors gradually developed de-
cided bull sentiment and the decline was not
only recovered but the price went 11sc above
the low figure. New York and ST. Louis
sent generous buying orders, and the shorts
covered freely. There was unfavorable Ar
gentine news, and Liverpool cabled that the
total Argentine exports from the last crop
were only about % COO 600 bushels. and the
surplus from this crop would probably not
exceed that against SO, 000, 600 bushels in 1894.
The receipts at Minneapolis. and Duluth were
355 cars, as compared with l, 107 cars on the
COII6SpOAuiuS udy ldSI year
At 83c, to which prices advanced, the mar
ket received check. One of the matters most
generally talked about was in reference to
the apparently authorized statement that Ar
mour q Co. will deliver cut 1000, 900 bushels
of wheat on December contract some time
after navigation shall have closed. Then
- came the news that the Duluth -four mills
would shut down for three weeks and Mime
apols wired that the -four trade there was
exceedingly dull; that although the mills
had booked 245,000 barrels of flour for the
week, not over 10 per cent of it was for ex-
port. This helped to weaken values, and
there was rush of early buyers to unload
which soon broke the price, May declining
to S15sc.
At that point the market turned upward
again. good many Of the sellers had
rather overdone the thing and covered. The
Argentine news which had it's effect early in
the session, was again played on and the
market got quite strong in the last hour
May 500 up to S3&c, finally closing strong
1t was scalpers' market in corn with puts
and calls as its basis. Fluctuations were
marrow, and kept within range of &c
selilng fraction above and below the close
$ OF yesterday. May opened &c lower at 26Lc
SOLO between 2611@265sc and 261s@2614c, clos
ing steady at 2619c. Oats firm and higher.
with the advance accompanied by a large
business and session OF great interest The
feature was the free buying by Baldwin
f1 which en- firm took up in the neighbor-
hood OF 100000 Blu. Prices, however kept
WITHIN narrow range. May opened a shade
lower at 21A@213sc and sold up to 21%c.
where 1t closed. Provisions opened strong
at slight advance. After a further rise
the weakness of wheat in the forenoon caused
a, loss Of the first gain and a little beside.
me subsequent Strengthening caused shorts
10 cover, and the prices recovered so that
everything closed not far from top Irices of
the day. Trading was only moderately active.
Nay Nay pork pork. closed &c higher at $S.O712 May
ribs -21l9e- higher at S4G71A0410. Estimated re-
&c eelpts: Corn, $50 cars; oats, 262 cars; hogs.
The leading futures ranged as follows.