St. Paul daily globe., 1896-01-07
SLOWER AND LOWER
WHEAT LOSES NEARLY A CENT ON
VARIOUS BEARIsH IN
FLUENCES.
OFFICIAL REPORT HURT 1T.
- CROP LARGER THAN EXPECTED,
AND So WAS THE VISIBLE
SUPPLY. s..s-
CORN MAKES A STRONG START.
Later 1t Loses Most of It's Gain
Provisions Firm and Selling
Higher.

~ CHICAGO, Jan. 6.-Wheat ruled dull all
Hay the small visible decrease and the gov
ernment crop report being powerful bearish
factors and pounding the cereal down nearly
a cent from Saturdays close. Corn and oats
were both firm and active early, but eased
off, while provisions opened strong and re-
mained So making material gains.
The wheat market made a weaker start,
owing mainly to the report of the government
showing the wheat crop to be as, 900, 900 bush
els, much mora than generally expected.
This caused pretty free selling by holders,
and during the first hour the price went. off
5ac from Saturdays close. But the English
cables quoted breadstuffs higher and con-
soils lower, leading to the conclusion that
political matters abroad were still unset
tied The fact that the new loan was adyer-
Used Tor was also some assurance that IMAM
cial matters were getting into better shape.
There was general belief that the visible
would show a large decrease, and the
amount on ocean passage was 640G0o bu less
than week ago. Several large operators
began to show a leaning to the bull side, and
when this was discovered the crowd also
turned in that direction and the price was
quickly advanced sc from the low point.
But there liberal selling at the advance
and the price started of some, and when it
became known that the decrease in the v!si-
- BILE was only 10000 bu. instead of 100000 to
1,000 900 bu as expected, the market became
very heavy and before noon had gone off
fully &c May sold from gd, 59M to 5912c;,. up Pr to
6O%e, then down to 59AQ595sc split The
hour and May fell off to SEC, or 1c below
the close Saturday. There was some reac-
tion, but it was not important, May closing
at 59@59hc.
Corn was strong, helped largely by the
fact that the government report of the crop
was smaller than had been generally expect
ed, and there not much disposition to
sell short, while the covering was more act
I've than for some time. May sold early at
2S1sc, advanced gradually to 2S34c, but eased
off to 2S3sc The market got quite weak dur
ing the last hour and May sold off to 2SA q
2S3sc split, and made practically no recovery.
In oats, shorts were buying freely. The
government report of the total crop of oats
for the year was 4.444, 600 bu. The general
estimate was for about 9OO,OOO,O 900 to 925, OOO-
900 bu and firmness resulted. May opened
from 1880 to 19Ac, sold up to 1916 back to
rl91sc and closed at 19A@19$sc. Saturday S
final quotation 19Mc.
The provision market was active and strong
and wound up at about the best prices of the
day. Hog receipts decidedly below the esti-
mate and firm cables were factors. Trade
was more active than for many day, and
the following additions were made to Sat
urday's closing prices: To January pork,
35c; May, 3212c; January lard, 10c; May TIC;
january ribs 15c. and May ribs 12ac.
Estimatestz Wheat 122; corn, 600; oats,
The leading futures ranged as follows: