The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-17
CORN VERY STRONG
WHILE PRICES IN WHEAT PIT
WE'RE ~TUMnLING COARSE
GRAINS ADVANCED.
CROP BULLETINS BEAR!SH.
VET Loss WHEAT FOR
THE DAY MORE THAI 4
POINT.
PROVISION PIT WEAK ALL DAY.
Market Almost without support and
Only DuIIneSs of Trading Pre-
vented More Serious Losses.
SUMMARY.

CHICAGO. June 16.-Corn was the big mar
ket on change today, heavy buying, in
which outsiG>-s were prominent, causing a
&c advance. W>eat was affected by the
favorable weather and crop reports, closing
at lsGIAc decline. Oats followed corn,
closing &c higher. Provisions were weak
throughout and declined about 1Oc all around.
Wheat commenced the days gymnastics by
a drop Of 3c in the price of July, and fol-
lowed it Up by climbing 12c hand-over-hand
1t then gave a half-cent dive. The opening
prices Of July were 69BQ69Ac, compared
with yesterdays close of $3.50. From that it
advanced TO 69Iac bid. then down to soc, and
for a while thereafter it revolved around
691sc. The unexpected frmness abroad after
the weakness here yesterday gave the mar
ket some temporary strength, and it also
got some help from the light Northwestern
receipts. 1S7 cars, where there were 500 cars
the same day last year. The home crop con-
ditiOns and the dizziness in the speculative
trade proved sufficiently bearish to offset
the early strength the market derived from
the better foreign cables. The weekly wealth
er crop bulletins were uniformly bearish as
to wheat, showing the spring crop to be
making good progress, and the winter crop
nearly finished and in good shape, with har-
Yesting completed in some areas, and a
prospect that by next week, the new grain
will be coming into market. After lingering
around $3.50 for a time the market took
another whirl, July touching $3.50 on the
buying furry. Corn had, in the interval,
become very strong, and had much to do
with the bulge. Receipts here were s cars
and 1000 bu were inspected out of store.
Liverpool reported an advance of I'D in July
and I'D in September; Paris a decline of
from 10Q15c, and Antwerp no change. Clear
were small, the total amounting to only
2 5000 bu. Another drop from a greater
height, and to a greater depth than the first
signalized the last hour of trading. July
wheat came out freely. and it looked like
liquidation of bull holdings rather than short
selling. July sold down to 6S$c On this
slump, but by closing time had recovered
to 6SkQ6S5sc.
Corn was surprisingly strong, and had the
active support of the elevator interests and
the best Informed people on the floor. Trad
ing was heavy throughout. The market at
the opening and for some time after was
weak on the splendid weather and uniformly
favorable crop reports, but heavy general
buying, of which a good proportion was from
the outside, ultimately turned the market
in the other direction. Receipts were 444
cars. July opened &c lower at 24hc, sold
at 24Ac, then advanced to 2514c. The c,ose
was firm at 25Ac. Oats sympathized with
corn, and followed that market closely.
Trading was very nat until corn made It's
bulge, when some Improvement was notice
able. The market was without Independent
features. Local receipts were reported at
225 cars. July opened a shade lower at 1870,
sold at 1Sk61SAc. and rallied to 183s@1Shc,
where it closed. Provisions opened weak on
the extremely heavy hog receipts, some 10, 000
over the estimates, and ruled weak through
out the session. The market was almost en-
tirely without support, but trading was dull,
which probably prevented a more material
decline than was chroDicled. At the close
July pork was 1O6121hc lower at $7.45; July
lard Zoe lower at $3.G212. and July ribs 7h@
10c lower. Estimates: Wheat, s cars; corn,
200 cars; oats, 30 cars; hogs, 81, 600 head.
The leading futures ranged a. 1oIiows: