The Saint Paul globe., 1897-09-17
MARKET SUMMARY.

CHICAGO Sent 16-The bulls in wheat
had favorable foreign crop advices and the
break in the drought to contend with To-Day,
and got severely hurt as consequence. De-
cember closed at decline of 13sc. Corn was
easier on account of the rain, and closed
Hc lower Oats were unchanged, while pro-
visions for the first time in a week showed
strength and closed unchanged to 10c higher.
The Liverpool opening quotations did not
nroduce their usual effect at the start here
Notwithstanding an opening advance OF about
SD at that market and small gain at Paris,
open quotations for December wheat mere
were at a considerable decline. They ranged
from 9S5s to 937sc, compared with yesterday
closing price of 945sc. 1t was for sale IN
large quantities at those figures and continued
to be urged upon buyers until rev MN
utes from the start, the price was forceo
down to 93Ac That proved the rallylng
point for 1c upward movement. Inc crops
in India and Argentine were well spoken of
in today's advices and reports from those
countries were influential in the early weak
ness. An exportable surplus of from 5O,G0O,O OO0
to 65 OOO 900 bu was estimated for Argentina,
notwithstanding reports of damage by locusts,
while general rain in India had improved the
prospects for a bountiful crop.
Chicago received 351 carloads of wheat, 80
of which were of the grade No. spring, ana
there was none other of contract quality.
MINNEAPOLIS and Duluth receiced 90l cars
against S32 the year before. The t3tal primary
Western market receipts for the day were
/ 432 559 bu, against 1885, 49O for the correspond
ing dav of the year before. That comparl-
son with the smaller receipts last year was
one of the chief bear arguments. The At
lantic port clearances amounted in wheat ana
flour TO $4,000 bu. New York reported
good inquiry for export, and the taking OF ~
boatloads This encouraged the bulls, and an
advance to 94Ac followed the decline 10 95Ac.
The fact that premiums were being pa!d
for cash wheat at Minneapolis and Duluth
attracted attention and helped to minimize
the effect of the liberal receipts at those
points Closing cables reported Liverpool Ao
higher for September and Ad lower lot
later deliveries. Traders watched the deal
ings of the bull clique narrowly and 1ol-
lowed them so closely that the market nuc-
tuated rapidly on a comparatively small
trade After the advance TO 94Ac, December
declined to 1880, and rose again to 94c Then
what little support the market had d-sap-
neared and by closing time December had
declined to 931s@93Ac.
Corn was weak all day, affected by the
breaking of the drought, rains oelng re-
ported in most of the corn states and heaVy
selling by the bear professionals. The fiature w
of the market was the putting OF d ltIge g
line early in the day, evidently with view
Of of hurrying W along the decline: There were
predictions of frost West, Friday and TINS
caused some rally from the bot AIlan- I
tic cearances were $4,000 bu. Receipts here
were S82 cars December ranged deSne dTSm l q
&c oats were very slow, but steady. Cas-
demand was not SO good as Weaaesoay pas
WIS shown and fluctuations were confined to
1&c range. Clearances were 1900 bu. De
cember ranged from 21c to 211sc, closing un-
changed at the latter figure.
Provisions ruled firm after weak open,
ing. The yellow fever news got o. usnal
work at the beginning, helped by weak log
market but packers were good buyers Oh
the break and continued to absorb RSo the e 9ep bad
arnarently been thoroughly liquidatei in the
last few days, and selling was left to pro, I0,
fessional bears. The close in pork was loc
higher at $S.25; December lard !12QlOc hlgher
at $4.571a@4.6O, and December ribs unehange ed
at $3.50 Estimated receipts for Friday:
Wheat 260 cars; corn, $50 cars; oats 40
Gays. hogs 5000 head.