The Saint Paul globe., 1897-01-16
Half 4 CENT DOWN
WHEAT, AFTER A WABBLY DAY,
CLOSED AT A NET DE-
CLINE.
CLOSED AT A NET DE-
CLINE.
THE WEAKNESS SENTIMENTAL.
NOTHING APPARENT IN THE STA
TISTICAL NEWS TO WARRANT
THE LOSS.
MAY F'BACTIONALLY LOWER.
Took Turn for the Better, But
Reacted and Left OF at
Eighty Flat.
THE WEAKNESS SENTIMENTAL.

CHICAGO, Jan. 15.-Wheat today alter
nately disappointed the bulls and the bears,
with the former suffering at the close which
at a 12c decline. The weakness was ap-
parently entirely sentimental as statistical
news hardly warranted the decline. The
other markets were also wobbly, corn and
oats declining about sc, and provisions so
1212c. In wheat, the local spectators, see
ing at the opening but a weak reflection from
Liverpool of their own bullishness on the
previous afternoon, became disheartened, as
usual, and began offering wheat at a con-
cession from the previous days closing
value. May started with sellers at from
SGlas down to S03sc, compared with yester
days closing price of S01&0S03sc and in
very short time it was skirting the even soc
figures. 1t dipped for a moment to Lice be-
low Sec and then turned quickly in the op-
poste and upward direction, reaching S07sc
before more than twenty-five minutes of the
session had gone by. The Liverpool open
ing showed only 14d advance, in comparison
with yesterdays 7sc gain in Chicago, but
Paris was a little higher and Berlin report
ed gain of l mark there. The Chicago
receipts were only Is carloads, while the
amount inspected out of store was 1S1 900
bu; Minneapolis and Duluth reported 291
carloads received against 17S a week ago,
and 313 cars on the corresponding day last
year. The New York advices were that trade
was light, with no orders from abroad either
way of the market. The exports from the
seabOard were moderately good al 428 800 bu
In wheat and flour, but did nothing for the
bulls, inasmuch as the heavy total of the
day before made today's figures look small
in comparison. The first advance referred
TO, when the price struck Sic for a moment,
was chiefly occasioned by the timidity of
the shorts, in view of the uncertainties of
the forthcoming government crop report,
which, however, 1t reported later in the
day, would not be issued until tomorrow.
The sale of 10000 bu of No. 2 spring wheat
for shipment to Liverpool by a Chicago
house, which had the wheat in New York,
held the market for time; but, other
export business was reperoted, and only
14,OO9 bu sold here to country sellers the
market got once more under the control of
the bears, and the price again got below Soc
May sold near the end at 1880, and closed
at soc.
Corn was dull and declined to be steady,
until wheat near the close of the session be-
came so decidedly weak. That and expecta-
tons Of larger receipts in the immediate
future broke the market. Atlantic port
clearanceS amounted to the respectable total
Of $1,000 bu, although it not much over
one-third of those reported yesterday. May
opened about 1sc lower at 24$4c, sold to 25c
and declined to 243sc, where it closed. Oats
were comparatively steady with wheat, but
declined later and the market from that time
TO the finish was very easy. Offerings were
liberal, some long stuff, BIT mostly selling
by shorts May opened a sh6 .e lower at 19c,
and sold down to 1885, where il closed. Pro-
visions were irmer at the opening and
shade higher than at the close of the pre-
Ylous session. but subsequently weakened.
The opening frmness was fairly well main-
tanned as long as offerings were light but
more pressure to sell soon noticeable
and sharp break followed at the close
May pork was 121ac lower at So O25a; May
lard 5s lower at $4.1OG4 1214, and May ribs
TIC lower at $4.1212. Estimated receipts for
Saturday: Wheat 29 cars: corn 2S0 cars;
oats, 22S cars; hogs, 24000 head.
The leading futures ranged as follows: