The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-15
MARKET SUMMARY.

CHICAGO, Sept. 14.-Wheat made a great
show of strength for about two hours today,
but slumped and closed with a modest ad-
vance of &c for the December option. 1t
showed 212c advance at one time. Foreign
crop shortness caused the early advance, and
a large visible supply increase was RESPONSE
BILE in the main for the subsequent decline
Corn and oats kept in line with wheat, corn
advancing &c and oats &C. Provisions had
another big injection of yellow fever virus
but suffered only slight decline in conse-
quence.
The opening in wheat was very strong.
December, which closed Monday afternoon at
941S@9414c, opened at from 951S to $3.50. In
during the next half hour 1t fuctuated be-
tween the starting quotations and 94Bc. 1t
started up again from the latter point and
rose with the same aggressive persistency
that has so characterized it in the last three
months, December getting up to 963s@9612c
about 1920 a. m. Apparently the reluctance
of Liverpool to follow Yesterdays decline
here-that market opening only A@1Ad lower
caused the opening strength, and later
Liverpool advices showing that market to have
risen Id, were certainly responsible for the
second rally. The real reasons for the early
strength however, were some very bad
French and Italian crop reports and some
statistics from the Washington agricultural
bureau, showing that Europe would have to
import 265, coo 900 blu of wheat from North
America this season, all of which with the
exception of about % 100000 blu must come
from the United States, a larger total than
has ever been called forth in one season be-
fore. Locusts were also said to be playing
havoc with the Argentine crop.
Chicago receipts were 377 cars, only car
of them contract, and 1913, 600 blu were in
spected out of store. Minneapolis and Du-
luth reported 1851 carloads, compared with
1,474, the corresponding day of last year. The
Atlantic port clearances for the day were
equal in wheat and -four to 761 900 blu. Brad
streets reported the worlds stocks increased
$1,000 COG blu, 1900 GOO blu Of which increase was
east of the Rockies, in the United States and
Canada, and $500, 900 blu of it in and afoat
for Europe. Previous to the receipt of Brad
streets statement the closing quotations of
foreign markets had been received, showing
considerable change from the early tone.
They showed Paris wheat lie per blu lower
for the near deliveries and nc lower for
November and February, and Antwerp 1885,
lower. Liverpool Also although 12d higher
for futures, was from Il to Id lower for spot
except No. l northern spring, which I'M
changed. The weakness of the closing cables
caused reaction to 95$4c, and when the
large visible increase was made known a fur
Their decline to 9419c ensued. The market
closed at 9412@945sc for December.
A good speculative business was done il
corn at advance over yesterdays closing
prices. The strength Was due to sympathy
with wheat and the dry hot weather. Shorts
covered literally. The comparative weakness
of wheat late in the day caused a relaxation
in the demand, and reaction ensued dur
ing which most of the advance was lost
Receipts were 1904 cars. The visible supply
increased, east of the Rockies, 2,779,O 600 bu
Country offerings were light and the shipping
demand a little improved Showers anC
cooler weather were promised for Wednesday
December ranged from 32$4c to 321sc closing
at 321sc asked, an advance of Ac. Business
was quiet and unimportant. The market wa
stronger early with corn and fair cash de-
mand, but nearly all the advance was los
when other grades reacted. Receipts were 3S
cars. The visible supply increased 1886, 900 bu
December ranged from 21AG213sc to 21@21ffic
closing at 211sc, or 1sc above yesterday
closing price.
1t was a yellow fever market in provisions
again. The market started strong with corn
but fear of the possibility of the fever becom
ing more general caused a general selling
movement and sharp decline in the openin;
prices. The original selling said to b.
at inside figures, and prices rallied slight,
from the bottom. At the close Decembe
pork was 713c lower, at $S.25; December lard
&c lower at $3.50 and December ribs, 8
lower, at $3.50. Estimated receipts Wednes
day: Wheat go cars; corn, SO; oats, 80
hogs 1000 bead
The leading futures ranged as follows: