The Saint Paul globe., 1897-10-30
MARKET SUMMARY.

CHICAGO Oct 29.-Had there been any de-
mand for spot wheat today it is prooaple thdC
the speculative market would have reacheo 81
again AS it was, December sold up TO Se12c'
but had declined to $500 at the close OF
ssc under yesterdays price. Shorts covered
very freely during the morning. Reports OF
moor crop prospects abroad and light receipts
were influential In the early firmness. corn
followed and closed 18@Ac lower oats were
independently strong, and showed 14c au-
vance at the close. Provisions suffered lrohl
general selling and declined 712qlOc for rlps
to 30c for pork.
There was a little hesitation at the open
Ing in wheat on account of the weakness al
paris as shown by the early cables Wheat
was quoted 10 centmes lower and nour ~
625 centimes lower. Outside of that the
news was all in favor of higher prices. Inc
result was that December, which left of yes
terday at 97Ac started today at from Si7s
d979sc and advanced to 9Sl2c In the hrst
half hours trading. Liverpool was ID hlgher
to begin with and advanced I'D more our
ing the day. the latter rise doubtless because
of the additional advance here this forenoon.
The winter wheat country was still sunerlng
from drought and reports were quite unanl-
nous as to the i'll effects of the dry weather.
Chicago got 40 cars, against l4t last year
The number Of cars of contract grace III
today's inspection was 1t, and Oh Chese
were from local cleaning houses. Inc guam
tity withdrawn from store was 2l2,O00 Du.
Mtnneanolis and Duluth together received S73
ears. against JIG year ago. Duluth alone,
on the corresponding day of 1896, got 6lS
cars; today Duluth receipts were only 100
New York reported liberal acceptances OF
cable offers made to the continent last night.
and 200 600 bu were reported having been
bought for shipment to France early In the
session. Clearances from the Atlantic ports,
including some -four from New Orleans,
amounted to 525, 900 bu.
After the advance to 9S1ac the market COM
menced to decline Holders took profits to
q considerable extent. and the market yield
ed to the pressure of such sales. The de-
cline which the selling Of this long wheat
started brought out short sellers, and the
market gradually grew very weak. Inc snort
sellers were encouraged by working of an
other 100000 bu Duluth wheat for shipment
to Chicago and by the fact that offerings of
No. 2 Kansas hard continue to be pressed
from Kansas City in practically unlimited
nuantitv at &c under Chicago December price
laid down here Good accounts of winter
wheat in the fields from Kentucy and Ne
braska likewise aided in creating the weak
ness that developed in the afternoon; Decem-
Der dropped in a very irregular way to 969sc
and closed at 96$4c
Corn ruled higher early. in sympathy with
wheat. on the small recepts-390 cars-and on
the strong cash position. Shorts covered
freely. and there was fair investment buying
When wheat commenced to weaken general
realizing occurred several good-sized long
lines being liqudated, and all the early ad-
vance was lost and small fraction besides
80 char tDur U
ing of May and selling of December, the
spread at times being $3.50. Gables were 12d
higher. Clearances were 10000 bu. Decem-
Der ranged from &c to 262c, closing 3-16c
lower at 261Ac. Oats firm right up to
the close, Notwithstanding the break in the
other grain markets. A feature was the
buying of a prominent commission house tlrm,
their purchases amounting to about a million
bushels The bulge in the price was the
result of this The market sagged somewhat
late in the session, following wheat ana corn
Cash continued strong. Receipts We're 2OS
cars December ranged from 1890 to lStsQl9c,
and closed Ac higher at 1880.
A fairly good business was done IN pro
visions but the feeling was weak Packers
were credited with selling freely, and stop
loss orders assisted materially in weakening
the market Heavy hog receipts ana a prop
able continuance of the same next week was
a weakening feature. At the close December
pork was soc lower at $7.47Ia December lard
i21bc lower at $4 1912 and December ribs I12
610c lower at 81. 40 Estimated receipts sat
urday Wheat, 140 cars; corn, 4OO cars; oats
225 cars; hogs, %, coo head.
The leading futures ranged as follows: