The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-11
TOO MUCH TURKEY
DULL WHEAT BUSINESS THE RE-
suit OF THE COMPLICATIONS
IN CRETE.
BEARS AFRAID TO GRoWL.
AFTER A TEMPORARY RALLY THE
CHICAGO MARKET SAGGED
ALL DAY.
NET DECLINE OF sEvEN-EIGHTHs.
All the Other Markets Shared the
Weakness of Wheat and Fol-
lowed 1t Down.

CHICAGO, March 10.-Wheat opened weak
today and after a temporary rally became
heavy again and closed at AQBc decline.
Part of the weakness was due to the line
weather, and part to the strong British con-
soils which temporarily dissipated the idea
of European war. All the other markets
shared in the weakness of wheat. Corn de-
clined hc, and oats PC. Provisions closed
unchanged to SC lower. 1t has been some
time since the wheat market has been so
dull as it was during the morning hour today.
Traders appeared to be unwilling to do
business, in view of the present uncertainty
of political affairs in Europe, and even the
bears with almost everything to encourage
them, took hold very gingerly. English con-
soils were unchanged, and Liverpool quoted
wheat from I'd higher to I'd lower at the
opening Those were the features of the
early news which caused wheat for sale at
the opening from 75Hc to 747sc for May, as
compared with 75Ac at the close yesterday.
For the next hour the market showed some
strength the only time during the day. 1t
was reported early In the day that New
York exporters had taken freight room for
% boatloads of wheat for April shipment,
and that there a good inquiry here.
The export business at New York was con-
firmed and very soon details of cash business
circulation. This stiffened the market to
7512c Bradstreet's report which was ex-
pected to show a worlds visible decrease Of
1900, 600 bu, was great disappointment when
it was announced. 1t failed to give the de-
crease in Europe and afoat, and gave only
1,205, 900 decrease east Of the Rockies.
The favorable weather was also a depressing
factor, and very good reports as to the crop
condition in Kansas were received. Mime
apolis and Duluth reported 300 cars, com
pared with 2S3 week ago, and 321 cars the
corresponding day OF the year before. Chi
cago receipts were 16 carloads, against 79
year ago. but the rail shipments hence We're
only 25,900 bu. compared with 1880 bu sent
out last year. Closing continental cables
were all lower, and consoS showed a 1Bc
advance, and May, which had rallied to
743zc after touching 74$s6D7412c, turned weak
again. and sank to 74B@74Ac. The market
closed at 74$$0741Ac.
Corn was firm long wheat going
up early in the day, and the light receipts
steadied the market for a time after that.
1t became very heavy in the last hour, while
wheat was at its ebb, and the pit, which
had been almost deserted, filled with
brokers anxious to unload their efforts re-
sulting in a sharp decline. Clearances were
l52, 600 bu. May opened a shade lower, at
A12@245sc, sold 1sc higher, then declined to
A1sc, closing weak at As024Ac. Oats
opened steady enough, but sold off later, and
wound up the day in a decidedly weak con-
dition for futures, although the sample mar
ket was firm, due to small receipts. A good
deal of liquidation was done, chiefly through
sympathy with wheat May opened unchanged
at 1712c, and declined to 1715c, where it
closed. Provisions started firm on the small
hog receipts. At the opening advance, pack
ers became free sellers, and as the weakness
Of the grain pits encouraged shorts to sell
also, a gradual decline resulted. English
houses gave a little support toward the end,
but final prices were the lowest of the day.
At the close May pork was 21ac lower at
$3.50; May lard &c lower, al s410 and May
ribs unchanged at $4.3714@4. 40. Estimates:
Wheat - cars; corn, 1870; oats, 100; hogs 81
600 head.