The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-11-02

CHICAGO, Nov. diminishing receipts
and the drought which have been the main
supports of wheat for several days, both Went
by the board today. and the result was i de-
cline of 112c in December and 1i4c in May. A
heavy increase in the visible added to the
discontinue of the bulls. Corn and oats
were a shade easier. Provisions were firm,
and advanced 71@d12l2c.
Wheat had to encounter a great number CT
acknowledgements to begin with today, and
they were added to by one other extremely
bearish feature that developed later. The
breaking of the drought in Illinois and In
diana, very heavy receipts in the Northwest,
lower quotations from Liverpool, worlds ship
ments for the week heavier than expected,
and further increase in the amount on
ocean passage-that was too formidable an
array of opposing forces for the bulls to
stand up against and consequently the OPP
ening of the days proceedings was at a de-
cline of about 1c per bushel. December ranged
from $3.50 to 97c at the opening. Offerings
were not so heavy as expected, and for this
reason a slow recovery to 9714c ensued which
was the highest point of the day. After that
prices sagged. the weakness becoming very
decided when the figures on the visible were
announced. They showed an increase of O.
24OCG0 bu. This was a complete surprise,
and showed how little be learned of the
changes in stocks in regular elevators of the
country by taking the published daily re-
ceipts at the principal market. Liverpool
showed Sd decline at the opening. but re
covered this later Chicago receipts were iSi
cars. 40 of them No. . northern spring. Min
neapClis reported 1850 car loads. and Duluth
1886, or 1876 at the two places compared with
1,6iO on the previous week and Al the cor
responding week of the year before Besides
the rail receipts as mentioned for Chicago,
1900 bu were received by canal, but the lat
ter was understood to be from a clearing
house on the canal in the neghborhood of
Chicago. The quantity on ocean passage
showed an increase of 100000 bu. the Eng
lsh visible an increase of !, 2S9, 600 bu. The
total primary receipts today were l SCI geo bu,
against 1,2960C0 bu a year ago. The statis-
teal news of the day was bullish in only one
particular, and that was the quantity of
wheat and flour cleared for export from At
lantic ports since Saturday, which was equal
to 63S. coo bu
By about u o'clock December had declined
to 96c, and May, which had started at $3.50
941Ac, was selling at 932sc. During the after
noon the market showed some signs of
strength. break of over 11ac was tempting
enough to many shorts who improved the OPP
portunity to take profits. This buying caused
a rally in December to 96Ac, where it closed
May in the meantime recovered to and closed
at 93iac.
Corn was barely steady, closing at slight
recession from Saturdays price 1t was due
entirely to sympathy with wheat, rather strong
statistical news preventing more than a &c
decline. Local stocks decreased 232, 600 blu.
Receipts were moderate, 55S cars and the
rains were expected to cause a further falling
off. Clearances were 252, coo bu. Visible sup
ply increased 1,SSS,00O bu. Business was very
moderate in volume December ranged from
&c to 2G3sc, and closed at 26%c.
Oats were quiet, with an easy feeling pre-
vaiing, and prices off trihe in sympathy
with corn. Only limited business was trans
acted, nothing in the way of features devel-
oped. The visible decreased 504 000 bu Local
stocks fell off Col 09G bu last week which
steadied the market somewhat. Receipts
W. 3l5 cars. December ranged from 1850
to l9&c. and closed shade lower at 1870.
Provisions though quiet were firm all day.
Hog receipts were lighter than expected, and
freezing weather was reported from the yell
low fever districts. Expectations of a heavy
decrease il stocks for the month also caused
some buying. Cash demand was large The
opening was irregular, but prices soon frmed
At the close December pork was 121bc higher
at $765, December lard Tlzc higher at $4.22la
and December ribs Zoe higher at $3.50. Esti-
mated receipts Tuesday: Wheat. 1870 cars;
corn. $50; oats, 500 hogs, 80 OGO head.