The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-21
PIT WAS SLUGGISH
CHICAGO WHEAT. ON WEAK LIV-
ERP0OL GABLES, CLOSED AT
A DECLINE.
LATER NEWS FAVORABLE,
But THE MARKET FAILED TO RE-
SPOND TO ANY SUCH IN
FLUENCE
-ATER NEWS FAVORABLE,
COARSE GRAINS INDEPENDENT.
Corn Lost Only n Fraction, While
Oats and Provisions Scored
Small Advances.

CHICAGO. Nov. 20.-Wheat was de-
cidedly sluggish today. and closed
about 15sc lower. Most Of the
decline was due to the weak Liver
pool opening, and, though later news
was of an encouraging character, the
market refused to respond. Other mar
kets showed some independence, corn
closing Nc lower, oats a shade higher
and provisions unchanged to 21ac high
er. Liverpool again gave the tone to
the beginning Of the wheat market
here. 1t sent quotations from ~ to
I'd, I'd per GENITAL lower than the
previous days closing prices. So
strong was the desire to sell at the
commencement, and SO cold and eau
tious at the same time, were intending
buyers, that December had to be Of
fered at 1914 before buyers could be
found. To add to the opening bearish-
ness, the receipts at Minneapolis and
Duluth had risen to 919 compared with
454 a week ago, and 94S the correspond
ing day q year ago. Some European
news was quite bulliSh. Paris reported
unfavorable weather and stated that
France would be an importer before
another crop, and Liverpool confirmed
the reports Of damage by locusts to
the Argentine crop. After the price
had recovered about 1c from the open
ing prices, there was another slump,
because of a New York telegram, say
ing light rains had fallen in Bombay.
1t was afterward said, however, that
the rain in India had not fallen where
1t would help wheat growing. The best
improvement in this market followed
the estimate by a local statistician
that the visible supply for the week
was likely to show a decrease Monday
of 100000 bushels and possibly 1,500,-
000 The increase the corresponding
week Of last year was 1,S96,000 bushels.
The demand Of cash wheat was good
and came from both exporters and
home millers. Early in the forenoon
sales Of 100000 bushels were made and
$4,000 bushels Of that was No. 8 hard
winter for export. After recovery to
771sc, the market began to tend down.
ward again. The continental markets
sent much lower quotations at the
close, and that renewed In It's full force
here the very bearish feeling which
had been temporarily overcome. FL
nally, about half an hour from the
close, December broke to 751sc. There
was very little recovery, December
closing weak at 75h0756sc.
Corn opened weak, under the inf1u-
ence of the big drop in wheat, but the
decline with which the market COM
menced brought in SO many who had
previously sold short, to take edvan-
tage Of the chance to buy, that the
price soon rose again. May started
11c lower at 26Ac. 1t rose to 26azc,
then declined to 261s@26Ac, closing
steady at 26ss @261Ac. Oats opened weak
and &c lower than yesterdays closing
price. May opened 21$s@211ac, sold at
21Ac, advanced to 215sc, and closed
steady at 211ac bid. The opening in
provisions was evidently affected by
the weak market in wheat, but after
hog prices had risen, with the sub
sequent re, overy in wheat, they did
ing, though wheat afterwards became
so much weaker. January pork closed
unchanged; January lard 212c higher;
January ribs closed at $500. Esti-
mates: Wheat, ITO cars; corn, ATS cars;
oats, $50 cars; hogs, 1900 head.
The leading futures ranged as follows: