The Saint Paul globe., 1896-12-08
SENSATIONAL BREAK IN THE FIRST
HOUR OF CHICAGO WHEAT
TRADING.
CLOSE ABOVE THE WORST.
NET LOSS FOR THE DAY WAS
ONE AND FIVE-EIGHTHS
CENTS.
WEAK CABLES STARTED SELLING.
Unexpectedly Large Decrease in the
Visible Tended to Check the
Falling Prices.

CHICAGO, Dec Wheat touched the oo-
cent mark today decline of 2Ac from Sat
urday's closing price. 1t recovered later, how
ever closing with net loss OF 1885, Weak
cables on the one hand, and the worlds Wis
ible decrease on the other were the principal
conflicting elements in the days fluctuations.
Corn and oats closed 1sc lower. provisions
showing but little change.
Wheat had a somewhat sensational break
in the first hours trading. Liverpool repeated
its see-saw tactics, and, IN the face Of the
substantial advance here Saturday, sent open
ing quotations from Ad to 1sd lower. as, A
weak opening here was inevitable, and s@hen
there was reported the receipt of 97Sl cars
in Minneapolis and Duluth rs, against a total
of 400 last year. prices dropped for a mo-
ment to soc, or 2Ac below the closing fig
ures Of Saturday. May opened irregularly
at from SIC down to S05sc with no very gen.
e-al demand at even the lowest figures given.
There soon appeared buyers eEcI5-ss to take
the not very heavy offerings at S09sc, ana
SQ%c was paid for some, but the heavy Min
neapolis receipts stopped all such buying, and
1t was not until after soc had been recorded
that the decline was stopped for the time be-
ing. The Unexpectedly large decrease in the
visible supply was quite a help to the mar
ket. Opinion had varied on the latter sub
Ject between decrease of SOC, 900 and 000, 900,
until Buffalo was found to have increased
only 295, 900, whereas an increase of about
1,500,00 had been looked for. The actual de-
crease was announced in the end of 0S2 000
compared with a decrease for the year before
OF only III, ,000 This caused an Improvement
In the price of May to Sic. Then both liquida-
ton and short selling started again, encour-
aged by the weak closing tone at Liverpool
The price broke to soc. Later, a report
that considerable quantity of new business
had been done for immediate shipment, the
price had another sudden bulge to Sic. The
market turned heavy again toward the end
nnal trading In May being at 805sc.
Corn was slow and weak, but the decline
was slight compared with the slump in wheat
which market corn was inclined to follow
The shipping demand was light and rather
large receipts are expected tomorrow May
started about 1sc higher at 26c, sold between
261sc and 251sc, closing easy at 26@261kc. Oats
were quiet, with prices 1sc lower at the close
than they were at the finish on Saturday
sympathy with wheat and corn caused the
easier tone. There was a good cash business
May opened a shade lower at 21$sc declined
to 2l1s and reacted to 21H@21ssc where it
closed. Provisions opened easy and at a
slight decline, affected by the drop in wheat
and large receipts of hogs. good demand
existed, however, and the early loss was
soon recovered, prices holding firm for the
rest rest OF the - session: May pork closed 21ac
higher at $3.50. Aay lard unchanged at
$4O712; May ribs 21ac higher at $4. Estimates:
Wheat, 40 cars; corn, 500; hogs, 28 900 head
Ihe leading futures ranged as follows: