The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-15
MARKET SUMMARY.

CHICAGO. May 1.-THE extreme weakness
of the Liverpool market, following the bulge
here Yesterday almost crushed the life out OF
the local wheat bulls today, and resulted In
a 1Ssc decline. The only breathing spell the
bulls were afforded was near the close, wnen
good export engagements were reported. The
other markets were very dull. Corn declined
1S@Ac. oats closed unchanged and provisions
lost 5d718c.
In wheat, the more than Indifference OF L1V-
erpool to the lie per bushel advance here yes
terday caused weak opening. The foreign
market opened easy for futures without much
change in price, but by l o'clock, noted q
decline of Id per GENITAL. That was the moss
important and influential feature Of the early
news and had the effect naturally due to it.
July wheat which closed yesterday worth
f41Ac opened with sellers at from 1910 down
to 731Ac During the first hour the tendency
was toward recovery but there was wheat for
sale on every recovery, and that continued to
be the condition of things during the remain
der of the forenoon. Northwest receipts were
500 ears, against sol the preceding Friday, and
274 the corresponding day Of the year before.
Chicago received car loads and Withdrawals
from store were $4,000 bushels. The clear
ances of wheat and flour from the Atlantic
seaboard were discouragingly light, being only
equal to 90 900 bushels in wheat and flour to-
gether. The only helpful matter to the bulls
was the quantity withdrawn from Chicago
warehouses. The market began to weaken
about the middle of the day, and had got down
to 73c for July about IL o'clock. Previous to
that the fluctuations had been kept within the
range of 1870 and 741ac. Closing cables re-
ported Liverpool from 1 to I'D lower for fu-
lures and steady to I'D lower for spot After
declining to 72$Ac, it was discovered that con-
siderable cash business had been done here
for shipment East and at New York for ex-
port. The quantity sold here was 100000 blu,
10000 bu going East by lake and
the remainder in different directions by
rails TO country mills. On that information the
price recovered to 7314c and closed at 731sc.
Up to the close of change, the export business
reported done at New York was 20 boatloads.
Corn was very dull and not SO badly wanted
by shorts as Of late. Frosts in the West last
night helped to sustain the market for a time,
but the weakness of wheat finally had its
effect, and the prices yielded. Exports were
very light, only 100, 600 blu being reported.
July opened unchanged at 25k@25asc.
The market for oats was dull, with an easy
feeling at the close. An urgent cash demand
existed, and caused some advance, which was
lost later under short selling and in sympathy
with wheat July opened shade lower at
1889, sold to 1S1a@1S5sc, dropped back to 1910,
and closed at 1886. Provisions were dull and
easy throughout. Heavy receipts of hogs West
caused an opening decline, but the market
hardly moved from the quotations then made.
English houses were prominent sellers. At the
close, July pork was 71ac lower at $3.50; July
lard &c lower at $4.95, and July ribs sc lower
at $4.65. Estimates Wheat, 8; corn, 11S; oats
1s5; hogs, 1900 head.
The leading futures ranged as follows: