The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-07-28
THOMAN'S BULLISH REPORT THE
FACTOR IN THE CHICAGO
PIT YESTERDAY.
ONE HUNDRED MILLIONS
FOR MINNESOTA AND THE
DAKOTAS.
SHARP RALLY IN THE FINAL HOUR.
Profit Taken Pulled Down the Price
But on the Rise Wheat Closed
Unchanged.

CHICAGO, July 27.-The influence of Tho
mans crop report, showing material reduc-
ton in the condition of both spring and win
ter wheat, caused September wheat to re-
gain a sharp loss caused by proft-taking
and final figures for that cereal show no
change. Corn was decidedly weak and closed
zee lower. Oats closed about &c higher.
provisions made new low records, and closed
1Oc lower. Wheat was nervous all day with
the trade active and seemingly broadening.
The early strength was due principally to
the continued rains. which are reported to
have inflicted more damage on wheat in stack
or in the shock. This, with moderate worlds
shipments and rather small receipts, gave the
market a strong and decidedly higher open
ing. But the bulge started the lucky longs
to selling to realize profits and while the mar
ket took the offerings we'll for time, they
gradually caused a good deal of weakness
and there was steady drop of 1Ac from the
high point early. Thoman's report was the
FACTOR and its bullish character caused a
gradual recovery. 1t reduced the estimate
Of both spring and winter wheat, the former
from 20 per cent month ago to 1872 per
cent now. The total production in Mime
sofa and the two Dakotas is estimated at only
n0OO0 GOO bushels, against 1856 600 900 last
year, and the total crop at only 147 600 900
bushels, or $1,000 600 bushels less than year
ago. Winter wheat which in the last DAYS
of June promised 271, 0OO, 900 bushels, is re-
duced to $4,000 900 bushels, the highest dur
ing the last ten years. This indicates total
crop-spring and winter-of 406 0OO 600 bushels
against 467, 600 900 bushels last wear The
visible supply, which showed an increase of
900 bushels where a decrease of fully
100000 was expected caused another relapse
in prices. some of the loss being recovered
later however, on the high quotations for
new red wheat and a good country milling
demand September opened irregular and
about 12c higher at 9%@60c declined to
58Ac advanced to $3.50, off to $780, and
closed steady at 59A@ 59$sc.
Corn was weak and prices suffered a fur
Their decline. Reports from the country were
most favorable for an enormous crop and
local receipts were large. Longs sold freely
and there was good selling for the short ac-
count, prices ruling lower from the start
September opened 1sc lower at 25B@26c and
gradually declined to 253sc, closing weak at
251ac Oats influenced by continued unfayor-
able crop reports, the early market was active
and strong, with prices ruling higher. Later
in sympathy with the weakness in corn
prices declined somewhat. September opened
Zee higher at 1890, sold between 1870 and
177sc closing steady at 177s@18c.
Provisions were dull and heavy. The
steadiness Of the livestock market had
favorable effect for the time, but sympathy
with corn and free offerings gradually re-
duced prices, lard and ribs making new low
records. The closing feeling was rather
weak. September pork closed 10c lower at
Sc; September lard 10c lower at $3.2715; Sep
TENDER ribs 10c lower at $3.1715@3.20. Esti-
mates: Wheat, 200 blu; oats, los blu; hogs,
Il, 900 head.
The leading futures ranged as follows