The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-29
MARKET SUMMARY.
FINANCIAL

CHICAGO Dec. 2S.-Wheat opened firm
today and closed firm at Ao advance for
May and lie higher for December but 1t had
several radical changes of feeling during the
session Statistics were bearsh, but the
influence of strong coarse grain markets
and support from the Letter party counter
balanced this in the end. Corn closed with
out change. Oats gained A@9sc. Provisions
were firm until near the end when they be-
came heavy and closed 21aG5c higher.
The opening in wheat was firm May
starting at 9414c again Yesterdays fina! price
Of 94c and holding for a few minutes at
94A@943sc There We moderate buying at
the start, Influenced apparently by the
strength of Liverpool, where A0ad advance
was recorded in face of the A@3sc decline
here yesterday. The early irmness shown by
corn and oats also helped. There was off,
cial confirmation of the small exports from
all countries to Europe last week, that the
Liverpool Corn Trade News cablegram ad-
vised of the day before. The figures made the
total worlds shipments 6635 900 blu and as
this country coIt ibu Cd 4, 600 bu the quota
OF all the other exporting countries in the
world amounted to only 1,S7S,O00 bu. A weak
spell succeeded the firm start caused by
heavy receipts In Chicago and in the North
west and an estimate emanating from what
tina would have an exportable surplus Of
6O,OOOOOO Blu. The Chicago receipts were 4SS
cars and the estimated addition to the con-
tract stock in regular warehouses from to-
days receipts was $50, coo Blu. Minneapolis
and Duluth received 657 cars against 290
a week ago and 3H the corresponding day Of
the year before. Trading was very dull and
the market broke very easily on moderate
offerings, May selling down to 991ac. When
the clearances Of wheat and -four at New
York for the day were reported as equal to
Ais 900 bu the weakness that set In was ar
rested and succeeded by another period of
considerable strength, May recovering to
s4Ac and holding for some time at close to
that figure. The Letter people were con-
spicuous buyers on this advance. The wheat
and flour on ocean passage decreased $780,,
600 blu; Bradstreet's made the worlds visible
60 900 blu more that it was a week ago, show
ing an increase on this side of COO blu,
and a decrease in and aioat for Europe, OF
100000 bu. A year ago on the CORES
bonding week there was a net decrease IN
worlds stocks of 1855, 600 blu. The total wheat
and -four cleared from the principal Atlantic
ports was equal to $4,000 Blu. The contract
stock Of wheat in Chicago Saturday night
last was 1881, 2S8 blu, addition Of 2O17,O0O
bu for the week, and since Saturday enough
Blu. After u o'clock the market experienced
another weak spell during which May
dropped to 93b6935sc, but toward the close
became quite strong again, and gradually
recovered to 94Ac, where 1t closed. December
was weak early, but was shot up to $1.0JA
on buying of perhaps $4,000 Blu. 1t closed
at 991ac. Afternoon deliveries of wheat
amounted to 250,000 blu, half of which came
from Armour Allen Grier received it.
Corn was quite active and irregular. 1t was
arm at the opening on higher cables and the
foreign demand, but broke quickly on the
Unexpectedly heavy receipts, 954 cars, with
quite rush of selling. The heavier holders
stood pat, however. In sympathy with the
late firmness of wheat, the corn market be-
came strong again and was well supported
Tor the rest of the session. May ranged
from 901zc to 29Ac and closed unchanged
1t 30Bc. Oats market very broad
and important one. The market shared the
opening firmness of wheat and corn, but the
advance provoked food of proflt-taking and
short selling which caused sharp decline.
At the bottom heavy buying commenced
again, the Letter interests being credited
with the purchase of 10000 bu while other
prominent people bought heavily. Rumors OF
the sale of fifty loads for direct shipment
to London contributed to the firmness.
Closing prices were the highest for several
months. May ranged from 24c to 232s@231sc,
closing at 24c.
Provisions at the start and for some time
after were steady Hogs receipts were small,
and yard prices higher, which helped to main
tain prices. Trading dull with outside
orders limited and fluctuations during the
morning were narrow. few minutes be-
fore the close some heavy selling orders
supposedly from John Cudahy, caused a
slump and left the market weak. At the
close May pork was &c lower at $S.S713, May
lard, 214c lower at $40 and May ribs 21ac
lower at S4.521a. Estimated receipts tomor-
row: Wheat, 235 cars; corn, 80 cars; oats,
240 cars; hogs, $1,000 head.
rrhn leading futures ranmed az follows.