The Saint Paul globe., 1896-10-31
AFTER WIDE FLUCTUATIONS
WHEAT CLOSED HIGHER IN THE
CHICAGO PIT.
LIVERPOOL. CAME WEAKER.
--I ~
THIS CREATED A HEAVY LOCAL
FEELINGl IN THE OPENING
arc TRADES.
SAN FRANofscorNEws WAS BuLLIsH
During the Last Hour the Market
Was Nervous, But Closed Sharp
With a Snap.

CHICAGO, Oct. 30.-Wheat closed at an
ADVANCE OF 1c today, after session marked
Dy the frequency and Wilderness Of its fuctua-
tlons' Perhaps the chief reason for the ad-
Vince was the easier tone Of the market for
money though there were good and substan-
tiai reasons for display of strength Other
markets were very dull but fairly steady,
ana showed but little change in prices. Wheat
opened with some show of weakness. Liver
poor cables quoted that market irregularly
ioWer, notwithstanding the advance Of 1c
mere yesterday. This naturally created weak
feeiing here, and it was not until 1t was
seen that the leaders in the market were
seizing the opportunity Of lower prices to
aoo to their lines that general confidence was
restored and the bullish aspect Of the mar
ket fully re-established. December wheat,
which closed last night worth 71Ic opened
at from 711sc to 711ac. Only one broker part
ed with wheat for less than 71%c, at which
rate the bulk Of the transactions took place.
After playing around 711aQ71asc for about Il
minute, 1t began to advance strongly-not
that so very much wheat was wanted, but
because little was for sale. On that its first
stretch, 1t stopped at 72asc, dropped back to
Izc, ana, after another tack to 725sc, and
oack again to 723sc, set all sail and did not
put about again until after it had touched
io1Sc The bulls got but little encourage
ment from the Minneapolis and Duluth re-
ceipts, which amounted to Lis cars, as com
pared with l,235 cars last year. Notwith-
standing the heavy receipts at those places the
market for wheat there was much stronger
to begin with than at Chicago, and the great
advance there was the first cause for the
stimulus given to the buying here.
The news from San Francisco was quite
bullish and buying orders from there numer-
Gus. A continuation of the Australian de-
market was a weak factor early, but before
Loon the situation had improved and this was
an important help to the wheat market.
There was considerable nervousness dur
ing the last hour, and following the rise to
731ac, there was long stoutly contested de-
cline to 721zc, but the market closed with
snap at 73c. Five minutes from the end of
the session the, price was at 721Rc, the lowest
point. Of the last long -drawr-out decline AS
the closing bell rang, December was bring
ing 72Bcp73c. s5ss a
Corn was quiet, and held fairly steady at
fraction above yesterdays close. The falling
off in receipts was also a strengthening fac
tor. May opened 1sc lower at 2SQ2SAc, rang
ed between % and 285sc, closing steady at
2S1ac bid. Oats were extremely quiet. The
finish was just about the same as on yester-
day. May opened unchanged at 2114c, ad-
yanced to 215s@21Ac, and closed steady at
the opening. Provisions ruled easier during
the greater part of the forenoon, but became
did yesterday, except lard which left OF at
a decline of 21ac for the day. Pork and ribs
each wound up with sc gain. The closing was
steady. Estimates: Wheat, 105 cars; corn,
465 cars oats, 315 cars; hogs. $4,000 head.
The leading futures ranged as follows: