The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-23
MARKET SUMMARY.

CHICAGO Sept. 22.-All the grain and pro-
vision markets turned very pretty fip-fops
today starting weak and closing strong, and
in the case of wheat with very substantial
advance. The strength of the cash wheat
situation in the Northwest and confrmatory
reports on the Russian crop shortage were
factors in lie gain in wheat. Corn advanced
sc and oats Ac.
Wheat took it's opening tone from Liver
pool Before the opening here that market
showed 11sd decline, which was reflected in
the first trades in December, which ranged
from 9O12c to 9Oalc, or CSC to lie below yester-
DAVIS closing prices But the market imme-
diately commenced to recover, and in about
an hour and a half from the opening De-
cember had risen to 92sc. There was moth
ing particular in the news to cause the sud
den change in sentiment. A reaction ap-
peared to be due in the natural order OF
things, and when some investment orders ap-
reared on the markets shorts started 10
cover. The very narrowness OF tradlng propap-
ly prevented further advance. The only really
bearish feature was the receipt of S53 cars OF
wheat at Duluth and Minneapolis, against
55S a week ago and $40 the corresponding day
a year ago. Even that was only bearish on
the surface The cash prices at those places
today were from 2 to 212c a blu over Decem-
Der so that the receipts there now represent
probably the bulk of the entire movement
from the farms in the Northwest to the eX-
cIusion of any accumu.ations IN interior
country houses. The Chicago receipts were
344 cars, of which only 80 were contract
Total receipts of winter wheat at Kansas
City, St. Louis and Detroit were only Iioo90
bu. The business done at New York yester-
dav for export was reported to have largely
exceeded what was made known OF 1t the
dav before the total being reported TO-DAY at
600 bu Acceptances were reported or
some last nights cabled offers to the United
States.
A reaction followed the advance to 921sc
when closing continental cables were recelV-
ed showing declines or 10 centllnes a. CTS
and 12lb TO 70 centmes at Antwerp. The longs
also took aoy antage OF the ADVANCE W W
load a good deal of their holdings, ana tue
result was that December dropped back W
907bc. Then the market turned Tor the lasC
time The cash strength at Minneapolis
brought the selnng to sudden matt am anu
nrices commenced 10 Climb al once, not sup
hing until December touched the nigh point
Of the day, 9214c, which was shorty pel "
me close ConnrmaIory reports from tne
limited States consul at ODESSA coheerhlns
the Russian crop shortage also help "9L ~ 'Ao
late strength. December closed at 9z12c'
= Corn started easier with wheat anu on
larger receipts than expected. me market
soon recovered It's tone, and closed Strong
and &c higher than yesterday. II was large
" a scanning market, and the fluctuations OIL
Wheat had more influence than anything else
Shorts were the best buyers. Country oner,
ings were reported larger. The cash demand
was moor. Receipts were posted at 676 cars.
December ranged from 8O7s to 811sc, closing
at 3l1sc Oats were quiet but firm II The ace fe "a
ture was the large cash business, l5O,VVO pg
beinq renorted sCld here for shipment, and
this ffS was the principal cause of the strength,
though to a certain extent wheat and corn
assisted. Receipts were 306 cars. December
ranged between PIC and 2012c, and closed at
2O1sc. an advance of &c. Provisions were
also as slow as oats. The market ruled easy
around the opening because of the heavy
hog receipts and consequent decline in yard
prices. A complete recovery ensued later in
sympathy with the advance in the grain mar
kets, and the closing was at the best prices
of the day. At the close, July pork was Pee
higher at So 40; December lard unchanged,
at $46564.6715, and December ribs 214c high
er, at $4.95. Estimated receipts Thursday
Wheat, 215 cars; corn, ASS cars; OATS 25O cars;
hogs %, 900 head
The leading futures ranged as follows: