The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-10-12
SHORT SIDE TlNID.
REARS AFRAID TO PRESS THEIR
ADVANTAGE IN THE WHEAT
MARKET.
DECLINE OF BUT A QUARTER.
GENERAL RAINFALL IN THE WEST
NOT VERY MUCH OF A
DAMPER.
CORN SUFFERED MOST SERIOUSLY.
Drop of Three-Guarters of Cent
fractional Loss for Oats
Provisions Firm.
MARKET SUMMARY.


CHICAGO, Oct. ia decline of 1B@4c was
all the effect the breaking of the drought
had on the Chicago wheat market. Short sell
ers were tmid about attacking the market,
while every weak spot attracted buyers.
In corn, the rain made its influence felt more,
that market declining AGs4c. Oats de-
clined h6Ac. Provisions were firm and
closed about &c higher all around.
December wheat, which closed Friday at
915sc, opened today at 91G91Ac. This was
the result of the rain which the weather
bureau reported covering nearly the entire
drought stricken district. Outside of this
important factor news favored higher prices.
The Liverpool market opened I'd higher. Re
ceipts' at Duluth and Minneapolis were lao
cars, against 1,51S cars week ago, and 1,7O9
the corresponding day last year. The worlds
shipments last week were lighter at 1876
bu, against 9,A400 bu the previous week,
and 10, 900 blu the corresponding week
year ago. Supplies on ocean passage showed
q decrease for the week of 240,00O bu. st.
Louis reported the sale early of 100000 blu
No. red winter wheat, to go to New Or
leans for export. The market advanced at
once to 91as@9115c. 1t reacted to 9lBQS1Ac,
but such good buying was encountered that
an advance to 91%@917sc soon ensued.. the
government crop report was expected today,
the session advanced, with the price keeping
close to Fridays values London cables re-
ported that the drought in the Argentine
Republic had been broken by rains Friday
and Saturday. Liverpool closed rather weak,
but the continental centers were all higher
and apparently regarded with complacency
the breaking Of the drought on the western
hemisphere. A London cable reported
deficiency of 80 per cent in wheat yield OF
four important provinces in Russia. The
English visible increased 491 900 blu during
last week. while the domestic visible in
creased / $50 900 Blu. Vessel room was char
tered here for 600 Blu No spring wheat
the balance of the lot sold to Liverpool
last week. One of the significant items of
the day was the official report of 2SO,00 blu
wheat shipped from India last week. This
is the first important shipment from that
country in many months, and is taken as
straw indicating the crop outlook there. This
caused May wheat to sell 1c below Decem-
Der at one time. Reports on todays export
business varied, some estimates placing the
engagements as high as so boatloads After
selling at 91%691Tc, December slowly eased
off to $3.50, and was bringing 9l$sq9l12c at
the close.
Corn was affected more or less by the
breaking of the drought. Opening prices
were at a sc decline, and although the
market rallied slightly in sympathy with the
advance in wheat, it fell back again later and
closed Ad%c lower than Fridays final fig
ure. The large receipts, 102 cars, acted as
a drag on the market Elevator firms were
liberal sellers all day. Local shorts were
the principal sellers. The visible increased
CSC 600 bu. Charters were for $4,000 bu
Decemess ranged from 29@2S3sc, closing at
2S$4 62S%c The market for oats was weak
and prices ruled slightly lower throughout
There was quite liberal selling on the
drought The market also sympathized with
corn. There was large increase - in the
visible 1854 600 bu. Receipts were 5g4 cars.
Charters were for 594, COO bu. December rang
ed from 1914 Q19a8c, closed 80 Ac lower at
1880 bid.
Provisions were firm and slightly higher;
the influences being higher yard prices and
the predicted cold weather, which is eX-
pected to check the yellow fever and bring
the public into the market. The English
interests were good buyers of lard. fair
" good cash business was doing, At the
close December pork was &c higher at $3.50;
December lard sc higher at $4.27l2, and De
cember ribs 2laG5c higher at $44l12q4.5O.
Estimates: Wheat, 4S2 cars; corn, $50 cars;
oats. 46O cars; hogs, 21G00 head.
The leading futures ranged follows: