The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-01
SHARP RALLY II NAY
THE CLOSE FOR THE DAY STEADY
AT AN ADVANCE OF A
HALF.
WHEAT STARTED OFF HEAVY.
FOR AN HOUR AND A HALF 1T
WAS ON THE DOWN
GRADE.
HEAVY CLEARANCEs REPORTED.
All Previous Records Broken by the
Figures for the Atlantic Sea-
board-Grains Dull.
MARKET SUMMARY.
FINANCIAL.

CHICAGO, Nov 3O.-Wheat rallied sharp
" today on the enormous cearances and
closed steady at an advance of 19G5sc for
May December was apparently held down
and showed only &c advance at the close.
Weak cables and large visible increase
were bearish factors Other markets were
dull but firm at the close, corn unchanged,
oats, 1s0Ac higher and provisions about
21Rc higher.
Wheat started heavy and was on the down
grade for an hour and a half May, which
closed yesterday at 9O1k@%c, opened today
at 9O2s@1ac. Enough buying was started at
the Slight decline to advance the price tenn
porarily to 9O24c, but 1t soon got down again
to 90Ac. December was even weaker, open
ing &c lower at 9524c, selling at Soc, then
declining to 95Ac. Weakness at Liverpool,
with an opening decline of ed, was perhaps
the main reason for the decline. The North
western receipts, while heavy, and compared
with those on the corresponding day of the
year before enormously so, were yet as COM
pared with the movement a week ago, con-
siderably smaller and indicative of the COM
mencement of their permanent radical de-
crease. Minneapolis and Duluth reported
O43 cars, against 1905 last week and 316
ne year before. Chicago receipts were 274
carloads against only 5S cars last year
The export c,earances from Atlantic ports
proved to be so conspicuous.y heavy that they
lrove out of mind the bearlsh features that
lad been the guiding motives on the decline
and caused speedy reversal of the previous
course of prices. The days exports of wheat
we're 1877, 400 bushels, and of flour SS,199 bbls,
he total being equal to 1,135OOO bu. That
was said to break all previous records for
one days exports from the Atlantic sea-
aoard. Quite a scramble by shorts took
of which
esulted in setting the price of May up to
911s0Hc and December to 96Ac The ad-
vance was well maintained until Bradstreets
reported that the worlds visible had increas-
ed 5000 900 blu last week, 1,0OO,0 Blu of
which increase was on this side and 900
u of it in and ahoat for Europe That
temporarily shook the fifmness, and the price
II May receded to S0Ac. The shorts had,
however, been so severely jolted by the rise
20 911sQ14c that they were rendered timid
~ this time, and it took only a show OF
ouying to rush the price Unce more to 911sc.
'-he primary market receipts were three
times heavier than on the corresponding day
OF the year before; the total amounting to
JOB, 900 bu today, against only $4,000 bu
=. year ago, but the bulk of the days receipts
we're at Minneapolis and Duluth. The con-
tract stock at Chicago increased $1,000 bu
the week, making the total 2,530,O0O bu.
The market toward the close was quiet but
urn, May winding up at 911sc December,
however, was not quite so buoyant, closing
at 95&zc.
Corn took It's cue from wheat, starting
weak ana de@lning long as wheat d1u,
ana then the latter market changed from
weakness to strength; corn did the same.
The days movement OF com favored holders,
but TINS tact was dIsregarded until wheat
rallied. Inc principal part of the days
trading was changing December deals over
10 May, though there was some liquidation
OF December, without any repurchasing OF
May. Price changes were very narrow. Re
ceipts were 641 cars, much below estimates.
Atlantic cearances were 695, coo bu. May
ranged from 294sWAc TO 29c, and closed IN
changed at 2918c There was very little to
the cats market except changing at 112W1Ac
spread. Longs sold December and there was
moderate commission house buying of May,
which made that delivery relatively frmer
than the nearer one. The action of wheat
had some influence. Receipts were posted at
567 cars SeabOard clearances were $4,000
bu. May ranged from 224sc to 2lBc, closing
1s0Hc higher at 221sc.
With the exception Of a short time after
the opening provisions were firm. Heavy
receipts of hogs here and at Western points
caused some hesitation early. John Cudahy
was a good buyer through brokers, pre-
sumably covering short lines, and this buy
ing was responsible for the slight advances
in January products, which marked the close.
December products were easier, resulting in
a slight widening of the spread. At the
close January pork was 212c higher at $3.50.
January lard a shade higher at $4.2212Q425,
and January ribs 2Rc higher at $4.2O. Esu-
mated receipts Wednesday: Wheat, 126 cars;
corn, 302 cars; oats, 243 cars; hogs, 4O,0OO
head.