The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-27
FOREIGN MARKETS VERY FIRM.
MARKET SUMMARY.

CHICAGO, July 26.-Wheat collapsed today,
after brief struggle, in which the bears
came off victorious September was forced
down from 744c to nc, and closed at 72Ac,
a net loss OF sc. Sensational advances
abroad caused an opening squirt, but accum-
ulating stocks at primary points and reassur-
ing advices from the spring wheat belt over
came outside influences. Corn was weak,
likewise oats on favorable weather, and in
creased country offerings. Pork closed shade
lower while lard and ribs advanced slightly.
The opening of the Liverpool market at an
advance of I'd per GENITAL, or the equivalent
Of nearly 21kc per Blu, started this market at
a stroLe gGiu with an initial jump of 1c
over Saturdays closing price. That foreign
ers were believers in a heavy deficiency was
evident from the fact that they had cabled
buying orders for considerable quantities of
December wheat which were in the hands of
New York and Chicago commission men at
the opening. The executing of these was a
feature that was remarked at New York
and here when trading started. September
reached 744c, an advance of 112c from Sat
urday's close about ten minutes after the
opening this morning. 1t turned downward
from that point, owing to some bearish
features of the domestic situation, which be-
gan to be pressed upon the attention OF
1853 OF them new wheat and one Of the lat
ter was new spring wheat. A year ago 127
cars were inspected into store, II of which
were new. Minneapolis and Duluth reported
457 cars, against AIS the week before and Ala
at the similar time year ago. Kansas City
got 500 cars, and 1t said 400 were on
the track at Toledo. The most bearish feature
of the domestic situation, however, an
increase in the visible of ia, 900 bu, instead
of an expected decrease of 100000 blu. 1t
would appear, therefore, that the country
millers' requirements had been overcome at
length by farmers deliveries, and that the
traders likely to be called upon to take
off a gradually accommodating amount at the
commercial centers. The continental mar
kets strong as those of the United
Kingdom Clearances of wheat and -four
from Atlantic ports were equal to 10000 Blu.
The bulls got much the worst of it in the
end and during the last half hour it became
a mere question with them of getting rid
of early purchases at as small a loss as
possible September opened %6Bc higher at
7SIad732c sold to 74Ac, to 72c and closed at
72Ac.
Corn started unchanged to a shade higher
but yielded gradually TO the influence of fine
weather for the crop and a weakening wheat
market, and continued to decline until the
close September opened at 2712Q277gc against
27l2q273sc Saturday, and declined to 1880
26&4c at the close. The market for oats
sympathized with the fluctuations in corn.
The feeling at the opening was firm, but long
stuff came out freely, and a reaction followed.
September opened at 177sc, touched 18c, de-
clined to 179sc, closed at that. Provisions were
firm on small trade until the end,
when the slump in cereals made itself felt.
September pork closed 212c lower at $7721k,
sellers; lard, &c higher at $4.22Q4.25; ribs 90
712c higher at $4.65q467. Estimates-Wheat
$4,000 head.
TIE laadLng futlras ranaad fnlln..s: