The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-11
WHEAT WAS W0BBhY
MARKET WENT FROM STRONG TO
WEAK AND BACK SEVERAL
TIMES.
CLOSED LOWER FINALLY.
NET CHANGE FOR THE DAY
DECLINE OF FIVE
ETGHTHS.
Liberal DECEMBER DELIVERIES
instrumental I'm Creating Many of
the Soft SpOts-COarse Grains
Followed Wheat.

CHICAGO, Dec. 10.-Wheat was very wob-
bly, today and went from strong to weak and
back again several times. 1t was weak
at the close resting with loss of about CSC.
December deliveries were quite prominent
and were instrumental N creating many
of the soft spots. Corn and oats weak
ened with wheat declining Il and Sc respec-
lively. Provisions were firm and made
small advances. Wheat started with some
May were from 1914 to 7914c, compared with
yesterdays closing of 791sQ7s14c. The open
ing of the Liverpool market with an adj
vance of I'D over the previous days close
the direct cause of the strength AL
though Liverpool has shown more or less
independence of this market for some time
past STILL in view of the pronounced weak
ness which the local market exhibited yester-
day, an advance was the last thing looked
for, and it checked to a degree the bearish
feeling. 1t was soon learned, however, that
Armour had delivered a coed deal of wheat
on Decembe contracts, and much of this
soon came on the market, and the urgency
in the selling caused a sharp temporary
break, the December price going off nearly
13ac in a very few minutes, or from 76c to
745sc, the difference widening to &c under
May, where it was 311c yesterday. At the
same time May fell from 791ac to 7S9sc. The
news from Liverpool, besides being more re-
assuring in the matter of quotations, was
strong in its references to the advices from
Argentina and there seems no longer any
doubt of the bad condition of the crop in
that country. other news also helped the ad-
vance which started in about II o'clock.
San Francisco reported the sale of three
cargoes yesterday for Cape Town, and later
Liverpool advices were strong. Before noon
May had sold up to 79%c. But that was the
final turning point. Rumors were rife that
the government crop report would be very
bearish, and although this has been expected,
it nevertheless had very depressing eff
feet. The price dropped slowly at first, but
got very weak by l O'Clock, and finally
sold down to 781Rc. The closing price for
May was 7S5sc.
Corn was again very dull but until the
final break in wheat held fairly firm. Ow-
ing to the weak breakup IN wheat, how
ever, corn finally got below yesterdays fig
ures and stayed there. The only feature to
the market was the liberal clearances, sos, 600
blu. May opened unchanged at 26c, advanced
to 261s@26Ac, declined to 25%c, and closed
downward course today. Selling was very
liberal and general, and big business was
transacted. Commission houses were free
purchasers but their buying had no eff
feet. May opened unchanged at 207s@21c.
The market showed some firmness momen-
tarily, selling up &c, but then declined rapid
ly to 2113c. The closing was weak at 201aQ
posse Business in the provision pit was
it has been recently. Hog receipts were
considerably below the estimate. This caused
a f1rmer opening, though prices were practi-
cally unchanged. good demand sprang
prices gradually advanced, closing at about
the highest figures. May pork closed TIC
higher at IS; May lard, 212c higher at $4121A;
May ribs sc higher at $4.05Q4.07R. Esti-
mates: Wheat, % cars; corn, 2l4 cars; oats,
304 cars: hogs. $4,000 head
The leading futures ranged as follows: