The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-23
WHEAT FOR EXPORT
sF@ts&
FOREIGN DEMAND THE DOMINANT
FACTOR IN THE CHICAGO
WHEAT PIT.
CLOSE FIvE-EIGHTHs u
BRADSTREET's AVAILABLE TEA
ONLY BEARISH INFLUENCE OF
THE SESSION.
TRADING A HOLIDAY CHARACTER
the Total of Business Was Some
what Small.

CHICAGO, Dec. 22-The saving clause in
yesterdays wheat market, the big export
demand made itself decidedly felt again
today, and was perhaps the principal fac
tor in the days advance of sc. Trading was
almost of holiday character in wheat as
well as the minor markets. Corn closed
unchanged, oats about 3-16 higher and pro-
visions unchanged, to PIC lower Wheat
opened from u to &c higher than 1t closed
yesterday. May was wanted at from sos to
S0ssc and it could not be bought for less
than the lowest of those prices all forenoon,
touching SOS shortly after the opening. The
causes of strength were mainly the firm and
somewhat higher cables, the unusual foreign
demand yesterday, and more bad news from
Argentine, the opinion abroad being that
even with good conditions from now on, 1t
will not be safe to count on more than 16.0oO,-
900 exports from that country. The strong fac
tors which developed yesterday and specially
the active export demand quite unusual dur
ing the holiday week, had their effect, in
ducing covering short lines and stimulating
the demand for the long account. Brad
streets figures on the worlds visible were
rather disappointing. They showed an in
crease Of only S12 900 bushels, which compared
with the increase last year of 3,716000 bushels
does not look very bearish, but even this
small increase was larger than the majority
of spectators had been led to expect. In
fact it did not have much effect but served
to pave the way for the weakness which fol-
lowed the announcement of failures in st.
Paul. This latter fact coupled with the un-
rest in local financial circles brought some
moderately heavy lines onto the market, and
caused a decline by 1890 to 791ac. The re-
ceipts here were 70 cars. Minneapolis and
Duluth got only 379 cars compared with 440
Tuesday a week ago. and 6SS the correspond
ing day of the year before. Atlantic clearings
were equal to 365, 600 bushels of wheat and
flour together. Foreign orders for cash wheat
were for the most part limited to shade
under the market. New York also advised
some fresh export business, so that wheat
touched 1910 for a second, it was wanted at
that by perhaps one hundred brokers who
were unable to secure any. By the time the
closing bell rang the price OF May mad again
risen to S0A@803sc.
Trading in corn showed the near approach
of the holidays and was almost entirely OF
a scalping nature. Prices were firm princi-
pally through sympathy with wheat, but
kept within a 1sc margin. May opened I'M
changed at 25sc, advanced to 25Ac, and
closed steady at 251sc. Oats were quiet with
business principally Of a scalping nature
Some few unimportant short lines covered on
the belief that there is a fair short interest
here Nobody did anything in particular and
prices were left to follow after wheat. May
opened at 1890, sold at 1870, dropped back to
1880 and closed with sellers at 1880. In
provisions apart from the exchanging OF
about 80, 600 barrels of pork, held for January
over to May, and similar transfer of a few
thousand tierces of lard, there was nothing
worth remarking of the days trade. Packers
were rather inclined to accept offers a
shade under yesterdays closing prices and
this resulted in slight degree of weakness
May pork closed 21ke lower at $3.50; May
lard about unchanged at $4@S4.o21a; May ribs
about unchanged at $494.0215. Estimates
Wheat 80 cars; corn $40; oats 230; hogs $4,000
head.