The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-29
CHICAGO WHEAT CLOSED STRONG
IN SPITE OF UNFAVoRABLE
LOCAL INFLUENCES.
LIGHT WORLD SHIPMENTS.
ALL OF THE STATISTICAL NEWS
WAS BULLISH IN ITS CHAR
ACTER.
OTHER MARKETS WE'RE QUIET.
Coarse Grains Closed at Small Frac-
tional Losses and Provisions at
Slight Advance.

CHICAGO, Dec 2S-The unsettled
local financial condition offset to
great extent the favorable effect of the
extremely light worlds shipments in
wheat today. The market closed steady
at 1sc advance. Fluctuations at no
time were sharp, the range Of prices
being but 5sc. Other markets were dull
and steady, corn closing a shade easier.
oats &c lower, and provisions about
215c higher. Wheat opened very firm,
because of the small shipments of the
week, from the exporting countries of
the world. The closing Of another
rather important Chicago bank, alone
prevented that and the other stattstl-
cal news concerning wheat, which was
of the most bullish kind, from produc-
ing a much greater degree of strength
than was exhibited in the course of the
day. Reports received before the open
ing, Indicating that the worlds ship
ments for the week would be less than
$500, 900 blu caused May wheat
which closed Thursday at Size, to open
at from S211sc to S2asc, with the bulk Of
the first transactions at S214c. There
were a few sales in the next few min
highest price of the forenoon. The
trade was extremely light UP to II
o'clock and during that time the gen
eral tendency in prices was slightly
downward. The trading price sagged
quite slowly, but inside of the first
forty minutes it had got as low as
S1%c The official report of the worlds
shipment made the total only 3,7S4.OOO
bu. of which amount 2,12,OOO
blu was contributed by this
country. The visible supply statement
was another surprise, as owing to the
small exports from the seaboard last
week, an increase was expected. There
was a decrease of 100000 bu,
against an increase of 100000 at the
corresponding time on the year before.
These two items had a good effect and
after the decline to Size, mentioned,
a rally to 1925 took place. The amount
on ocean passage is $4,000 bu
smaller than a week ago. The prices
during the last hour had many f1uct-
uations, S1%c and 82Hc, but was in
clined to resist any reduction below SIC.
and that was the closing price. Rumors
of further bank troubles were denied
and New York reported a continued
foreign demand. These were the pre-
vailing influences at the close.
Corn ruled quiet, steady and nearly
featureless, keeping within a narrow
figures of Thursday 1t did not derive
much benefit from the f1rmness in
wheat, as large receipts were reported
today, but liberal estimates for to-
morrow were made. May opened
shade lower at 25$sc, f1uctuated be-
tween 25A@3s and 2514c, closing heavy
at the opening figure. Oats were slow
of sale and easy with prices &c lower
at the close. At the start the feeling
was steady, in sympathy with the
fi1mness in wheat. An increase of
1,O42, 900 blu in the visible supply
caused a dispositio n to sell, and
brought about the weaker tone. May
opened unchanged at zoe, sold at 201sc,
dropped back to 19ABc, and closed at
1850 Trading in provisions was almost
entirely confined to changing January
contracts over into May Prices f1uct-
uated very slightly and for the most
part in favor of the long side, helped
partly by wheat and partly by firm
hog market. At the close May pork
was shade higher at $3.50; May lard
21hc higher at $4.0215; May ribs 21sc
higher at $500. Estimates: Wheat 80;
corn 1885, oats 375; hogs $4,000 head.
The leading futures ranged as follows: