The Saint Paul globe., 1897-09-28

CHICAGO. Sept. 27.-Wheat was firm to-
day, in spite of a large array of bear news,
December closing at 14@3sc advance Drought
reports are beginning to attract great deal
of attention and were influential today IN
causing the slight advance. The dry weather
was also feature of corn, which closed 40
&c higher Oats advanced 14c. Provisions
were strong and closed 10G15c higher.
Wheat was very weak at the opening, initial
sales of December, which closed Saturday at
912sc ranging from 9OA to 9O1Ac. Liverpool
opened at decline of 11ad for wheat futures
and Minneapolis and Duluth reported 1,427
carloads as their receipts, while the exports
to Europe for the week from all surplus pro-
ducing countries were over $500 900 bu Prices
were tempting to shorts, who started to coY-
er Immediately, and in the course of an hour
nearly all the opening decline had been re-
covered. Scapers ran the market for the
first half hour of the session. After that the
trading though quiet, was of more gen
eral character. The advance was in spite OF
the fact that most of the fresh information
that came in was of a bearish character.
The important matter of different charac-
ter was the clearances from the principal
Atlantic ports, which in wheat and flour to-
gether amounted to $780, 900 bu. December
sold up to Gle, declined to 90Ac, and from
that point gradually rose to 91%c. 1t slid OIL
again to 90%c however, on the announce
ment of the Unexpectedly large visible IN
crease. Statisticians estimated that the WIN
ter wheat crop of the United States was
800 0OO 900 bu, and the spring wheat 22o, coo 200
bu The amount on ocean passage increased
16SOOOO bu for the week. Primary market
receipts for the day were 1,766, 600 bu, against
/ 966. 600 bu a year ago. The visible supply
increased 2 403, 900 bu whereas only about
100000 bu increase had been calculated on.
Stocks of wheat in Liverpool are $4,000 bu
smaller than a week ago, and the English
visible decreased 126, 600 bu. Closing Liverpool
cables reported declines in futures from Id
to I'd. Paris was strong and TO centimes or
31kc per bu higher for September and 10 cen
times higher for later deliveries. Antwerp
showed an improvement of 1212 centimes.
Complaints of drought in the winter wheat
section are growing more general every day.
Seeding it is sad is being greatly retarded.
These reports were very influential during
the morning The market grew quite strong
toward the close. The strength of the clos
ing continental cables and reports of drought
damage in Argentine started renewed buying
Good support came from New York also, De-
cember advanced to 91$4@911sc and closed at
915s@91Ac.
Corn like wheat, weak at the opening
principally through sympathy. The market
soon turned strong and remained so during
the remainder of the session. Shorts were
liberal buyers, holders of puts also supporting
the market The advance was partly due to
sympathy with wheat. The dry weather West,
necessitatng the feeding of corn to stock
on account of the drying UP of the pastures,
was factor. Receipts were 6l9 cars. visible
Increased !, $3.50, coo bu. Clearances were 4l2-
300 bu Elevator people were the best sell
ers December ranged from 297sd30c to 2914c,
3Lo hiohn OF DQThIJ2OP t)atS
common with other grain markets, were easy
and lower around the opening. Later shorts
were good buyers, which, with the urgent
inquiry for cash oats from outside points,
caused rally which closed the session with
firm feeling. The market for the most part
was only fairly active. Visible supply in
creased 81, 600 bu. Receipts were 69S cars. De
cember ranged from 20A to 197sQ2Oc, closing
Ac higher at 20Ac.
The market for provisions was fairly ac-
tive. The opening was rather heavy. There
was the usual batch of yellow fever news
and hog prices were lower. The market later
turned strong under the leadership OF lard,
for which product good foreign demand was
reported Shorts were good buyers. The
market closed strong at top values. Decem
Der pork was 15c higher at $3.50; December
lard 15c higher at $4.571a, and December libs,
1Oc higher at $4.S5. Estimated receipts Tues
day: Wheat $40 cars; corn, 1030 cars; oats
5S cars; hogs $1,000 head
The leading futures ranged as follows: