The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-10-29
WHEAT MARKET CONDITIONS
POINT TO A MATERIAL ADVANCE
- an PRICES.
OVER TWO ncENTS ADDED
IN SPITE OF HEAVY NORTHWEST
RECEIPTS THE TREND STEAD
lily UPWARD.
NNNN'IHN NFN ~ Nv FNO
MINNEAPOLIS PREMIUM CUT DOWN.
Der and Cash Wheat Only a
Cent Apart as .Contrasted With
a Four-Cent Split.

~ d a-A-4 kL4.. .
CHICAGO. Oct. 2S.-Wheat acted today as
II starting on a renewal OF the recent tenn
porariiy suspended, bull campaign. 1t ad-
vanced to 71Ac for December and closed at
70BQ7lc, or nearly 2Ac higher than it did
yesterday. Better Liverpool cables, a strong
Northwest market and engagements for Aus
tralian shipment, all contributed to the
strength. Corn and oats participated in the
bull feeling. advancing &c and &c respect
lively. Provisions closed at practically un-
changed figures. .4e
The Liverpool wheat market was once again
a surprise to the traders here, who looked
for its being quoted very weak. after yester-
days emphatic slump. But, on the contrary,
prices from there showed a sd advance by
the time the session opened. That set De-
cember going at an advance of NC. The first
transactions in that option were made at
from 65Q69Ac. and inside Of half an hour the
price had risen to $780, The Northwestern
receipts were again so heavy that they
weighed at times on the minds Of traders
IKE Banquo's- ghost at the banquet on the
imagination of Macbeth. Minneapolis and
Duluth reported POS carloads received, COM
pared with 965 a week ago, and with /. 22S on
the corresponding day of the year before. To
counteract this was advices from the North
west that farmers deliveries are rapidly fall
ing OH. A point in the situation in Mime
apohs, which was much commented upon,
was that the premium of December over cash
wheat IN that market, which a few days ago
was &c, was down to 1c, at one time today.
Inc Dull sentiment was held somewhat in
cneck by the weak London and continental
cables. BY the fact that New York cleared no
wheat ana by the continued closeness Of the
money market. But a little before noon a
STEADY advance set in, December climbing to
IV9sc. Th1s was caused principally by a sud
den development of buying orders sunnosed
70 come from Cudahy, whose selling was
helo 10 De IN a large measure responsible for
yesterdays break. That he should now turn
puyer was an unexpected development and
caused a sharp rally. The Northwest was also
bulllsh, with prices there advancing sharply,
making nearly &c advance, and there was
good buying here for Northwest account.
During the last fifteen minutes, messages
three cargoes to Australia started buying
anew, December advanced to HE, but re-
acted somewhat before the close, final figures
being 70sM1fc.
Corn was quiet but firm, being helped a
good deal by the strength in wheat. The
advance in freights from the West is eX-
pected to diminish the receipts, temporarily
at least, and that, perhaps, made shorts all
changed at 27NG2ec, advanced to 2S%c, and
closed steady at 28A@28%c. Oats were quiet.
A firm feeling existed and prices we're high
er, lnnuenced by the action Of wheat and
corn. May started a shade higher. at 21%0
2l12c, touched 21A@213sc, advanced to 215sc,
and the last price was 21k@21%c, sellers.
Provisions were heavy. Under pretty general
selllng a decline took place. The strength of
wheat and corn had it's effect later. how
ever, and about all the decline. was recovered.
January pork closed 21ac lower at S.. 80: jan
uary lard unchanged at $3.50: January ribs
unchanged at $3.S5q3.s71s. Estimated re-
ceipts for Thursday: Wheat. 146 cars: corn.
500 cars; oats, 345 cars; hogs, 81, 900 head.
The leading futures ranged as follows: