The Saint Paul globe., 1897-10-14
MARKET SUMMARY.

CHICAGO, Oct. 13-Wheat today regained
almost precisely what it lost yesterday De-
cember closed at an advance of 11sc. Large
sales OF wheat for export, and revision by
well known English authority of the surpris
Ing visible increase figures, given out by
Bradstreets yesterday, were the principal
stimulating influences. Corn was very weak
at the outset, and the strength of wheat only
served to drag the market back to yesterdays
figures. Oats closed 1sc higher, and provis-
Ions under good support, advanced 212Gl212c.
News affecting the wheat market was about
evenly divided at the opening. Liverpool
cables were slightly lower at the outset.
There was also London Times cable saying
that rains had practically assured the Argen-
tine harvest, and that 37,O0O, ,OOOO bu would be
exported from the crop. December, which
closed yesterday at 9014c, opened today at
90A G903sc. There was quite free selling for
a time, Influenced mostly by the breaking Of
the Argentine drought, and slow decline of
S94c resulted. By II O'Clock, however, the
complexion of the market had changed.
Northwest receipts were moderate Minneap-
oils and Duluth reporting 962 cars against
10G3 last week and S67 a year ago. Chicago
receipts were 163 cars. 1t developed as the
day advanced, that the local crowd had sold
too much wheat. An attempt on the part of
brokers for some of the local shorts to cover
brought out the fact that offerings were very
scanty This put the trade in very good con-
dition to receive the report of export engage
ments at New York and outports of 500 030
bu.
One of the bullish items of the day was the
Beerbohm estimate that the worlds availa-
Bile" supply had only increased 100000 bu
during last week. This was 90 1000 bu less
than Bradstreet had figured it. A New York
exporting firm reported that it had bought
over 100000 bu in the last three days. Of
fetal closings at Liverpool, Antwerp and
Paris were lower, but it was reported later
that the curb market in Paris was up quar-
ter of franc. Altogether the trade here
showed more strength and activity than it
has shown for some time December wheat
by o'clock had advanced to 911ac and it was
bringing 912s at the close.
Corn started very weak. The A@Ad de-
cline in Liverpool. coupled with the fact that
there are now nearly 100000 bu in public
and private houses here, caused liquidation
which was heavy at times. Shorts covered
freely when wheat turned strong, but the in
cubus of the enormous local stocks made the
market SO soggy that only a slight rally
suited. Clearances were light, 10000 bu.
Receipts were 552 cars. Cash demand was
unsatisfactory. December ranged from 2Sc
to N9sc closing unchanged at 271s@28c. Oats
were firm at the opening, but the decline in
corn caused a disposition to sell, and values
deprecated considerably. There was an ex-
cellent export demand and this with the
wheat advance caused rally to the best
point of the day. Receipts were 263 cars
Charters reported for 200 900 bu. December
ranged from 1880 to 18&q1S7sc, closing 1sc
higher, at 1880
Provisions started weak in sympathy with
a 5@1Oc lower hog market at the yards.
There was a continuation early of the re-
cent liquidation by longs but when the grain
markets began going up, the whole temper
of the market changed. The English houses
began to reinstate property recently sold, and
there was good buying by the professionals.
Prices were at the highest points at the close.
December pork, 1213c higher, at $7.721a; De-
cember lard, 21kc higher, at $4.25, and De-
cember ribs, 713c higher at s4.471a. Esti-
mated receipts Thursday: Wheat 185 cars;
corn, $50 cars; oats, 26O cars; hogs rs, 600.
The leading futures ranged as follows: