The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-07-13
INCREASED ACTIVITY IN WHEAT.
Times-Herald's Review of the Grain
Markets

Times-HeraId's Review of the Grain
Markets.
CHICAGO, July 12.-The Times-HeraId In
its review of the grain trade tomorrow will
say:
Wheat this week will not have to suffer
from any counter attraction at the Coliseum
building. The market even showed some in
creased activity Saturday, because of a wan
ing interest In the convention bulletins. From
today forward the trade will have its eye
on quotations, rather than the ballots of
state delegations. The pit will be pretty GER
tain to show the benefit OF the restored in
terest. This will count something in. favor
OF the wheat price. The government renort
is now behind. rather than ahead of the
market. That also will favor an increased
speculation. The Washington figures were not
bearish. The references to the foreign situ-
ation showed there were to be no unusual
necessities abroad this year, but that fact
mas been recognized for months While the
market has been SO full and the prices con-
tinual1y sagging, the spot position of wheat
mas been improving. No. / northern has been
on an export basis for almost a week. direct
business with Liverpool on good scale hay-
ing been accomplished from Chicago. Duluth
has been moving its grain out at the rate
OF 100000 bushels per day, and the wheat and
nour exports have not been small, over q
100000 barrels each week, without an inter-
ruption. The arrivals Of new wheat have
Deen nperal Tor the season, but not so liberal
out tnat they have been seized up each day
at 11aQ1Ac over the nominal market This
sort of spot situation should be no encour-
agement surely to the short SELLER. The
speculation has been assuredly of very small
volume. There is no denying that The pros
pect IS for improvement in that particular.
July usually sees more trading than June.
fhe political campaign will for awhile NOT
furnish SO much advertisement.
From the position Of the man who studies
only the pit condition and who does not un-
dertake to decide to more serious con-
siderations, the bulls should have an easier
rlne OF 1t for while. There is nothing
particularly interesting in the wheat pit stu
aton- The whole tendency for month has
Deen toward reduction Of speculative in
terests. The only short lines out are scalp-
Ing ones and these not very large There is
not an important holding. market so thor
oughly liquidated does not often prove a
bear one. It Is likely to take some advance
to inspire much new short selling After go
long decline, almost 1Oc bushel without
any serious rally, the new trade is apt to be
on the buying side. AS to how far any rally
will go will depend on the new winter wheat
movement; on the prospects In the North
west and on the continued ability to sell
wheat abroad.
Coarse grains were stirred slightly during
the week by general reductions East and
West in railroad rates. Reduced tariff from
the West started some short selling, but re-
ductions eastbound were almost immediate
ly announced and then shorts made haste to
cover. For once the reduction In Transports
ton rates did not come at once of the
price at Chicago. The countryman Is still
getting the benefit Of 1t. The rally in the
prices of corn and oats was on the theory
that the lake and rail lines will reduce their
tariffs, SO as to keep about their old relative
positions under the railroads. II they do
not do this. the eastbound movement will
not be much affected. and after a time the
short selling will begin again. 1t is con-
sidered almost certain, however, by the peo-
pie In the trade that the reduction will ex-
tend, and that rates will be kept at figure
to help the distribution of the very cheap
coarse grains. especially their movement
abroad.