The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-17
NEWS Alb BEARISH
CHICAGO WHEAT PRICES CLOSED
THREE-QUARTERS OF A GENT
LOWER.
A SURPRISE FOR TRADERS.
HEAVY RECEIPTS IN THE NORTH
WEST STARTED THE DOWN
WARD MOVEMENT.
COARSE GRAINS WE'RE STEADY.
Corn Closed Shade Lower, Oats
Unchanged, While Provisions Suf-
feded Material Declines.

CHICAGO, Nov. 16.-Wheat suffered
from plethora of bearish news today,
and closed &c lower, though selling
at a sc decline. Corn and oats held
steady on a limited business, corn clos
ing a shade lower and oats unchanged.
Provisions suffered declines of ~ to
1312c Two surprises were in store for
wheat spectators at the opening to-
day. One was the heavy Northwest
receipts. The receipts Of wheat at
Minneapolis and Duluth were 1926 cars,
against 9S3 on the Monday preceding,
and 1868 on the corresponding day of
the year before. The other was the
Liverpool cables. The first accounts
received at the Liverpool market were
indicative of firmness, but later dis
patches advised Id per Genital decline.
These two items were sufficient to
create decidedly weak feeling, and in
half an hour from the start December
which had opened from 79c, yester-
days closing price, down to 781ac, was
struggling to keep from going below
7712c. The sudden increase in the re-
Ceipts in the Northwest was totally
unexpected and the belief was freely
expressed that both this and the de-
cline at Liverpool was due to Chicago
manipulation. But other news gave
the bears a more legitimate advantage.
The visible supply, which had been
expected to increase not over 900
bushels or 900 bushels, was found
to have increased 1,0S5,0 900 bushels. The
disappointment in this respect caused
the price to take another sudden
plunge. December had meantime re-
covered to 7Sc, and it dropped to THO
on the publication of the visible figures.
The demand for cash wheat was I'M
usually urgent, both for export and
milling, and was one Of the strong
features of the day. The sales up to
noon aggregated nearly 300 900 bushels,
One-half of it being for direct export
The market became very feverish dur
ing the last hour and fluctuations were
violent. Liverpool at the close quoted
a net decline Of from 2Hd to I'D for
the day, and only Antwerp Of the con-
Ilnental markets showed an advance.
The declines at Paris and Berlin were
trif1ing, however. The Liverpool weak
ness caused December wheat to get
down to 771sc. There was quick
rally in December to 781Ac under
encouragement of the large cash
business. Another drop to 775sc was
followed by a final rally to 7SAc, which
NAOoAAAS PAASC IAdOli1S WAS
almost entirely local. May started I'M
changed at 2S3sc, sold at 2S1sc, declined
to 2S1sc and closed steady at 2SA@ssc,
In oats, as well as corn, business was
principally of a local nature May
opened unchanged at 221sc, declined to
221s@Ac, and rallied to 221hc, where it
closed. 10 Provisions prices tended but
one way, and that was downward. Re
ceipts of hogs were much larger than
expected and started prices lower.
Commission houses and packers sold
freely, and products suffered a still
further decline, though rallying a trife
with wheat near the close. January
pork closed 121ac lower at $7.S5 Janu-
airy lard 121ac lower at $40; January
ribs nc lower at $3.85. Estimates:
Wheat 120; corn ATS; oats 430; hogs
$4,000 head.
Cash ouotations were IS follows: