The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-19
PIT TOOK A BRACE
AFTER A WEAK OPENING CHICA-
GO WHEAT CLOSED STRONG
= AND HIGHER.
NEARLY TWO CENTS ADDED.
INCREASE In SEABOARD DEMAND
SENT SHORTS SCURRYING
TO COVER.
FARMERS, DELIVERIES FALLING.
~ ~, . - y 1-
Lighter Northwest Receipts One of
the Factors That Induced the
BuIIish Sentiment.

CHICAGO, Nov. 1S.-Wheat opened weak to-
day. but closed strong and at an advance
OF age. The strength was mainly due to the
large seaboard engagements and the foreign
demand which shows signs of abatement.
Other markets were weak; corn and oats de-
Ginning 14c and provisions 212@71zc Wheat
started in a decidedly inauspicious manner
today. 1t opened apparently very weak, at
&c per busaeI lower than the closing price
of the. day before, and that principally-er
rather, it might be said entirely-on account.
of a decline of 1Ad to 11ad at Liverpool. The
crowd here was quite prepared to follow any
big bear leader, but none materialized. Open
ing prices for December ranged from 76c to
761zc, but inside of hour 775s@77S4c was
quoted. After the offerings brought out by
the opening cables were out OF the way, the
demoralized feeling soon disappeared. 1t was
soon found that nearly $1,000 bushels had
already been taken her for export. partly No.
spring, which had been sold at 11bc over
the price of December; the second Liverpool
cable was decidedly better, and reports that
farmers deliveries were falling off were
confirmed by Northwest receipts Minneapolis
and Duluth reported $40 carloads as COM
pared with 945 last year. Under the intiu-
ence of such news the sentiment soon got
bullish, shorts took fright and covered freely,
while the friends OF wheat who have been
held IN check for some days, by the down
ward tendency had their courage renewed and
were good buyers.
The most important news, however, and the
real sustaining influence of the market came
from the seaboard. Australian purchases
In San Francisco were reported at three car
goes yesterday up to the close of change and
two more later in the day. South Africa was
also purchaser of $4,000 bushels there
and an Australian cablegram to a San Fran
cisco merchant said that that country would
still require about 4,500, 900 bushels. Deem
Der advanced steadily to 76c. Then a re-
action carried the price back to 771bc The
decline was only temporary, however and
the price tended upward from that point to
1870 at the close.
Corn was heavy and prices lower. The prin-
cipal selling was by houses who are in close
connection with the country dealers. The
market was governed early by the course
OF wheat but failed to rally materially when
that cereal advanced. May opened &c lower
at Z79sc, sold to 27%@27%c. declined to 27asc
and closed easy at 275sc. In oats at the open
ing, a slightly easier feeling was apparent.
and prices gradually sought a lower level
The weakness in wheat was the starter. NAV
opened shade lower at 22@22h, declined to
Zi%c and rallied to &c, where it closed
Provisions continued on the downward course
today. Hog receipts, though smaller than
estimated, We're large enough to cause lower
prices at the opening. January pork closed
T!ac lower at 81 sly; January lard, PIC lower
at So.Sl1@g3.90; January ribs, 215c lower at
1875. Estimates-Wheat % cars; corn 500:
oats, 215; hogs, so, 900 head.
The leading futures ranged as follows: