The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-14
SCALpER'S MARKET
WHEAT AFTER STARTING OUT
STRONG CLOSED WITH A. CENT
NET LOSS.
MAY ENDED UNDER EIGHTY
HEARS BOUGHT ON THE BREAKS
AND SOLD AGAIN ON THE
RALLIES.
PROVISIONS SCORED AN ADVANCE
Corn and Oats Followed the Lead of
Wheat and Came Out with
Fractional Losses.

CHICAGO. Jan. 13.-Wheat today, although
opening strong at an advance. turned weak
and closed weak at trihe over cent de-
cline Weak cables started liquidation, which
was induced in to an extent hardly warrant
ed by the general situation. Corn and oats
were corresp0nlingly weak and lost ABOUT
re each. but provisions managed to score
slight advance. In wheat the firm opening was
the result Of the steadness of Liverpool,
and light Northwestern receipts The first
cablegram quoted IA advance in futures and
a later private dispatch gave prices as %c
higher, or nearly double yesterdays advance
here. Northwest and local receipts too, were
moderate. Chicago got only IS carloads of
wheat against los a year ago, and Minneapolis
and Duluth reported 213 cars against 120
week ago and 40 the corresponding day of
the year before. Later in the day all but IA
of the Liverpool advance was reported lost
and prices started downward. AS compared
with yesterdays close of S07sc, opening
prices for May were from S114 to S11sc, and
after a slight decline to S07sc, it had another
little advance to S1AGS12sc. The latter was
the highest price of the day. Trade was no
ticeably light during the first half hour of
frmness, ana only increased in volume when
the price had got we'll under Soc. Among the
reasons for the weakness which supervened
was a rumor regarding the -four trade, which,
neapoHs reported only 11,O0O barrels of flour
sold yesterday, and Milwaukee reported fifty
thousand barrels of Minneapolis hour stored
there and $50 cars more track waiting
storage. The light seaboard clearances of
wheat and four-114000 bu-encouraged
selling and firm foreign markets at advanced
quotations did not help the buying. The bears
were Oh top and if they bought on the breaks,
they put the wheat out short again on the
rallies when there was a rally, and at lower
prices when the decline continued. In other
words, it was scalpers' market May finally
declined to 1885, and closed weak at 1880
79&c
Corn had a very quiet session with prices
almost altogether dependent wheat 1t was
inclined to frmness, as long as wheat held
up its e. "t the speculative trading but
WeahvLed readily when that market set the
example. May sold at 24$4 Q247sc then weak
ened 10 2412c, closing easy at 241b6245Sc Oats
opened steady to firm on bad weather re-
ports from the West and through sympathy
with wheat. The latter influence was .ronger
by lar than the former, and triumphed later
on IN the session, causing a decline in prices
mere was good disposition to buy on the
part OF shorts and several lines, both large
ana small were evened up. May opened un-
changed at 1870, sold between 1870 and 1880
closing easy at the latter price Provisions
ruled strong and closed that way the only
thlng on the floor to do that The market was
Gun during the forenoon, but Hvened up un-
SeI the improved demand which came mostly
from shorts. The early weakness Of the hog
market caused a slight opening decline in
prices, but this was soon overcome At the
cloSe, May pork was a shade higher at 81 500
i-SZ72; May lard a shade higher at S4O50
4:OI12, and May ribs 212c higher, at $410 Els
Inmates: Wheat 16 cars; corn 2O5 cars: oats
10 cars; hogs, $4,000 head.
ne teadih5 futures ranged as follows: