The Saint Paul globe., 1896-12-09
LOSS IN i! THE VISIBLE
CHICAGO WHEAT BRACED by
sHRINKAGE IN THE WORLDS
SUPPLY.
PRICE WAS BELOW EIGHTY.
ON THE REACTION MAY CLOSED
WITH A FRACTIONAL NET
GAIN.
OPENING TRADES HEAVY IN TONE
Weak Cables Largely influential in
Shaping the Early Sentiment of
the Pit.

CHICAGO, Dec. S.-Wheat was today con-
verted from an apparetly hopelessly weak
market to a strog oe by the largen world
visible supply decrease. May closed AQasc
higher than yesterdays final figures, after
having sold over a cent below that. Corn
advanced 11sc. and oats did not change,
provisions advancing 212@5c May opened at
from CSC to sc below the price 1T closed at
the day before. The opening range OF prices,
simultaneously paid in different parts OF the
pit was from soc to S0Ac, with the bulk OF
the transactions at the lower figures. The
opening London and Liverpool markets were
heavy in tone at somewhat reduced prices,
and these were the chief sources of the weak
feeling which started trading here The fact
that stocks in Europe and ahoat increased
over 10000 600 bushels last month was also
factor and the decline which started with
the opening continued till May touched 7912c.
When the sentiment changed, and the tone
of the market gradually improved up to the
time of the receipt of Bradstreet's visible
supply statement, which was expected to be
bullish and justified such anticipations. The
days statistics also furnished some encour-
agement The Chicago receipts were 80 cars,
compared with 207 on the corresponding day
of last year; Minneapolis and Duluth got 4S2
cars, against 1,239 year ago. The Atlantic
port clearances of wheat and flour were equal
to 475, 900 bushels. A telegram from St. Louis
said that one-ffth of all the No. red wheat
there had been sold in the last twenty-four
hours. The Bradstreet's figures were total
decrease in worlds stocks of 4,947, 600. On
receipt of that the price, which meanwhile had
crept up to 803ac, rose to 805s@S0Ac, and
after a slight reaction to 8012c, 1t took a sec
ond squirt as high as Sic before the effect OF
the big reduction in the worlds visible eX-
bausted Itself Closing cables showed gen.
eral declines. The market, however, held it's
advance well. May finally closed steady at
S0az @807sc.
There was an ususually large trade in corn.
It was accompanied by no excitement and
prices kept within a narrow range, being
wheat. May started 1sc lower, at 26c 1t sold
between 2614c and 257sc, and closed steady at
261k@26Ac. At the opening oats were steady
and remained so until the professional talent
from wheat and corn came into the market
and by free selling caused prices to Decline
and weak feeling to exist. Later, however
under liberal buying, and to some extent
through sympathy with wheat there occurred
a reaction, which recovered the early loss
q slight fraction in the bargain. May opened
a shade lower at 21Ac, declined to 21c, recov-
cred to 213sc closing steady at 21A@21Ssc
Trading in provisions usual was quiet but
prices were steady and changed but little
opening prices being slightly higher, helped
by firm live stock market. This was also
the incentive for the good buying which fol-
lowed and which held prices steady through
out the session. May pork closed 5c higher
at $685. May lard 214c higher at $40. May
ribs 272c higher, at $4.021a. Estimates:
Wheat, IS; corn, $50; oats. 2O7; hogs. 3S, 600.
The leading futures ranged as follows: