The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-07
MARKET SUMMARY.

CHICAGO, Aug. 6.-Wheat today recovered
half of yesterdays loss, closing 119c higher for
September. The export business was cons.d-
erably less at the seaboard, but over 800, 000
bushels was worked from here. Liverpoois
advance in the face of a &c drop here yester-
day rather astonished the shorts and was re-
sponsble for the early strength here. Corn
was weak early on improved crop prospects,
but rallied on covering, closing Ac lower. Oats
lost 1sdAc. Provisions were weak on heavy
receipts, declining 21EQl5c, the latter IN
pork.
One half of yesterdays decline in wheat was
recovered Immediately at the opening. Sep
TENDER. which closed the day before at 7512c,
was wanted at from II to 77l4c. and it touched
77l9c before the first batch Of buying orders
could be all executed. The sudden recovery
was due to the rather extraordinary cir
rumstances that, Notwithstanding the previ
Gus days decline here, Liverpool had ad-
vanced I'D before business commenced here.
The remarkable strength of the Liverpool
market was ascribed to unfavorable weather
for harvest in England and the continental
demand, foreigners, it was said, being buy
of wheat in Liverpool. Spring wheat
offered from here last night to Antwerp and
Liverpool at a good margin of profit and
for contingencies over New York
cepted. Chicago receipts were 124 cars, com
pared with 200 last year. Minneapolis and
Duluth reported POI cars against 81 last year.
The want of strong parties on the bull side
of the market soon began to be felt and from
77I2c, the highest point which September
reached soon after the beginning of the ses-
sion, it declined irregularly during the fore
noon to 1850, or within &c of the closing
price yesterday. There was no change in the
general situation affecting prices except that
all the big bull spectators had sold out and
were apparently waiting for still lower prices
than had been reached the day before. The
inquiry for cash wheat was renewed on the
decline and the demand was such to give
promise of as large a business as was done
yesterday. One lot of 10000 blu No. 1 north
ern spring was sold at from 4a4c to sc per blu
in store over the September price, for ship
ment TO miller at Milwaukee. The princi-
pal demand, however, was for export. The
price of September worked gradually Up from
around 755sc to TIC The closing cables gave
Liverpool Id higher and Paris equal to from
25sc to SAC per blu lower. Primary market
receipts were S46.700 blu against COS, 1888 blu the
corresponding week. The sales of spot wheat
- pot each yesterdays figures, but yes
sci room was engaged for 385, 900 blu, and about
IS boat loads were reported accepted at the
seaboard. September after touching 772sc,
eased off to 7I9771sc at the close.
Corn was again depressed by the great
progress made by the growing crop since the
late bountiful rains, and the consequent
loosening up of holdings. September opened 14c
higher at 271Ac, declined irreguiarly to 2613c,
recovered and closed at &c. Oats ruled easy
with corn, but liquidation was not so heavy
as on yesterday. Receipts were 62S cars and
charters were made for $50, 900 bu Septem-
Der opened 1sc higher at 179sc, sold off to
171sQ17Ac closing at 1714c net decline of
1sQAc. Provisions were only moderately
active and rather weak. No one appeared will
ing to give any support, until prices had a
good break, and buyers who came in then
were principally people who had sold earlier.
Hog receipts were 1000 in excess of the num-
Der expected, the reason given for the weak
ness that prevailed until near the end of the
day. September pork opened 514c lower, de-
clined to SITE, recovered to and closed at
$3.50, or 1712c loss. September lard started
at $3.50, settled to $4.271a, and recovered again
10 $4.321a@4.35. September ribs, which c.osed
yesterday at $4.S5 sellers, opened at $4.S2E2
declined to S4.75, rose again to s4.S5 and
rested at S4.S212. The rally in price near the
end was in sympathy with the recovery in
wheat and corn. Estimates Wheat, 100;
corn, 700; oats, $50; hogs, $4,000.
The leading futures ranged follows: