The Saint Paul globe., 1897-10-21
MARKET SUMMARY.

CHICAGO. Oct 2G--Weak lass in the grain
and provision markets during the nj 'rnng
was succeeded by strength later on, and
small advances were chronicled all around.
Wheat was helped by a renewal OF the COIL
tinentaI demand for American wheat. De
cember closing 5sc higher. There was
slight disposition to play for reaction IN
corn and a &c advance was the result Oa(s
closed H@Ac higher. Provisions closed aI
small advance for pork and ribs, With laF q
substantially unchanged.
Wheat was steady at about yesterday S
closing price for a few minutes after the
opening, and then it was subjected to some
bearish influence that caused it to decline
1c ner bu during the next hour. May
was not as weak as December during the
time referred to, owing, 1t was supposed, to
the action Of the bull CLIQUE, who, as on the
dsy before. sold December at or above Gle
and bought the May when 1t was weak The
comparative firmness during the first few
minutes was because of a further reduction
In Northwestern receipts and steadiness Of
the Liverpool and Paris markets. both of
which quoted prices unchanged from the pre-
vious days closing. The bearish news came
partly from the Northwest and parity from
abroad. Heavy rains were reported in Ar
gentna. The Liverpool Corn Trade News
revised its previous estimates of European
requirements, making the amount only H.
00O 900 bu, instead Of 900 as pre-
viously calculated That had some depress-
ing effect, but more serious news was the
reported sale at Duluth of 100000 bu
No / northern wheat to Chicago for delivery
on December contracts, which was made pos
sfble by the higher prices ruling here. This
rather staggered the trade. December was
substantially at yesterdays closing price,
907s@91c, and before the effect of the Duluth
transaction had worn off a decline to 9O1sc
had taken place. Chicago receipts were 2O4
cars, or "a over the estimates. Minneapolis
and Duluth report SS7 cars against 920 last
week and go the corresponding day of the
year previous Atlantic port clearances Of
wheat and -four were smaller than Monday
and Tuesday, the total being under $4,000
bu. Bradstreet's report on the worlds
visible showed an increase Of 4,271, 600 bu.
About 12 O'Clock the market began to show
signs of frmness Sales were reported Of
two cargoes of No. 2 red winter at Toledo,
and one at Detroit for immediate export to
the continent. This indication of a revival
of the foreign demand encouraged local buy
ers and the price began slowly to mend.
December advanced to 9112@919sc, and was
bringing 911k@915sc at the c.Ose.
Corn was steady even when wheat was
weak in the forenoon and was very nrm later,
when wheat advanced. There was consider
abe buying on the theory that a reaction was
about due, following the recent heavy decline
Shorts were also numerous. The foreign da-
mand, which for two weeks has been apa-
thet.c, revived in force today. The opening
was a shade easier on the liberal receipts,
$50 cars, and the lower cables, but the de-
cline was soon made up. The visible increase
was 2, ,430 900 bu. Charters were for 575 600 bu.
December ranged from 26c to 251ac, c-osing
3sc higher at 26c Oats were higher and
firm at the advance Trading was not i'm
portant the frmness being due principally to
light offerings. New York did considerable
bidding al day. Elevator interests were fair
sellers early. AS usual, sympathy with corn
was an important factor. Receipts were 242
cars December ranged from 1880 to 1Ssc,
and closed S@AC higher at 18A@189se.
Provisions were steady a small amount
of business. The continued bad report from
the yellow fever districts caused a small
opening decline. Shorts were good buyers
and the cash demand was considerably i'm
proved, which facts caused a recovery of
the opening decline-end a small advance be-
sides. The frmness of wheat and corn helped
toward the end. At the close December pork
was &c higher at $3.50; December lard IN
changed, at $4S0@4.321a, and December ribs,
21ac higher at $4.50. Estimated receipts Thurs
day: Wheat, 2S0 cars; corn, 500 cars; oats,
235 cars; hogs, 600 head.
The leading futures ranged as follows: