The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-15

CHICAGO, Aug. 1.-THE shorts in wheat
had another shaking up today and September
| advanced 27c from the low point and re-
tanned an improvement of 21a02Ssc. Rumors
! that the French government would remove
! the imoprt duty on wheat and predictions of
! frost in the Northwest caused the upturn.
Very little cash business was done and re-
ceipts were liberal Corn was helped by pre-
dctions of frost and gained &c. Oats were
steady to a shade easier on dull speculation.
Pork lost sc and ribs PFC. Lard closed
unchanged.
Wheat opened firmer today than it ruled
near the end of yesterday S session, the open
ing price for September being from S1&Gg2c
against S113@S15sc at the close yesterday.
1t had spell of relapsing weakness that
caused temporary dip to Size, and that
was followed by returning strength that
raised its price TO S2Ac. Another temporary
depression was followed by still more vigor-
Gus interval, and during the continuance Of
the latter September rose to 84Ssc The most
influential factor was the bad reports that
every one appeared to be getting concerning
the condition of spring wheat IN the North
west. 1t was rumored that the French minis
try had authorized some change in the duties
on wheat in the direction of reduction CT
some interpreted it, in the way of a
concession in favor Of French millers in
some indefinite way. The lessening of the
import duty in France would enable the grain
dealers of that country to food their own
markets with foreign wheat and the demand
would be chiefly directed to America AS
the price of wheat at Paris was quoted in
the first dispatches at an advance of INC it
was fairly good evidence that there was no
knowledge n Paris UP to that time of any
change in the rate of duty. AS, however
later kilograms reported decline there equal
from 1as@to &c bu the rumor began to
gain credence and prices were rushed up
with will. The receipts at Chicago for the
week were 63S.O00 bu. and shipments 1,55O, 43S
Blu. The days clearances OF wheat and flour
from Atlantic ports were equal to 513 0G0 blu.
Beerbohms estimated the shipments to
Europe from all countries for the week at
eco blu. Argentine did not export any
wheat against $4,000 blu on the similar week
of last Year. The exc;tementzcsntinued until
few minutes before the cllsR and September
sold at s4asc, within Acs of the highest price
touched on the recent bulge. September
opened h@5sc higher at 17s@S2e. sold be-
tween Size and S45sc, closing at Sac. Corn
was firm notwithstanding general rains
througout the corn belt Trade was not
heavy until the end of the session, when
the strength of wheat and rumor of frost
in the Northwest added to the fears of the
shorts and encouraged the bulls TO show more
aggress1Veness September opened at 27B@
2S1sc, and closed at 2s3s@2S19c.
Oats were quiet throughout. Prices ruled
steady. Chicago received 500 cars. September
opened at 177sc and closed at 175kc. sellers
speculation in provisions was ey remedy
dull although the cash trade assumed quite
ton closed as follows: Pork $7.95; lard,
$40; RIBS, S4.S7k.
Estimates: Wheat, $50 cars; corn, 1850;
oats, 725; hogs, 10000 head.
The leading futures ranged as fcIl0wS.