The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-23

MARKET SUMMARY.


CHICAGO, Aug. N-Dollar wheat was
reached in Chicago today. The September OPP
ton touched that figure few minutes pc
fore the close, and wound up an excited oay
session at 991ac, an advance OF 612c sdhoe
yesterday. December closed at an equal gain.
For the first time since the recent pnenom-
email advance began leaders of the bull chque
let go Of large blocks of their holdings, WHICH,
in measure, relieved the strain. Inc eA-
element in wheat was shared by all the other
markets, trading in corn especially being
tremendous. Corn closed at &c advance, and
oats wound up 1a4c higher. Provisions, after
an early squirt sank back, and closed IN
changed to TIC higher.
September wheat, which closed Friday at
93c, opened today anywhere from SIC 10 Soc'
and kept plunging around wildly for an hour
between these figures and 9612c. DecemDer
was equally erratic, opened at 97@SI@c ian
advance of about 41ac) and fuctuated between
that price and 951kc. Enormous quantities
were sold at those figures by people who had
previously bought, the sales OF one OF the
best known spectators, w. R. Linn, aggre-
eating millions of bushels. Crop reports
from the Northwest were even worse than
have heretofore been received, some pred1c-
ton placing the crop there at not to ex-
coed seven or eight blu an acre. Inc
weeks exports Of wheat and fiuor from both
coasts amounted to 5,21S,000 Blu, compared
with 4,46O,OOO blu the week previous, and
1891, 900 blu the corresponding week OF the
year before. The clearances from Atlantic
ports alone for the last twenty-four hours
were equal in wheat and -four to 4,7O0OOO
blu. Chicago received 219 cars, only 10 Of
which were of the contract grade. The snip
ments were 212,000 blu. Minneapolis and Du-
luth received 243 cars, against 435 year ago.
Argentine did not ship any wheat to Europe
this week.
By IL o'clock the market had assimilated
all the earlier offerings and hungered for
more to such an extent that it rose again with
more than it's original voracity, and leaped
like trout at fly to secure the September
wheat offered at 99c, May at the same time
bringing 81. About ten minutes before the
close 81 was bid and accepted for block or
September, amid much excitement This price
was held for only an instant, however, plenty
of wheat coming on the market about TINS
time, and at theclose September was bringing
991ac while 991sc was bid for December.
Business in the corn pit was on an immense
scale Shorts made mad rush to cover at
the opening, and forced prices up 21ac over
yesterdays closing Local receipts were
heavy, 1,003 cars. Crop reports were very
poor September opened at I've higher, at Bic,
and sold between 3014e and 32c. The close
was firm at 313s@311ac. The buying craze was
also manifest in the oats market. Shorts, COW
cred large lines and all months were taken
freely. September opened Hac higher, at 19c,
sold up to 20Ac, and closed at 1870.
Provisions were in great request at the
. uphn at $s.671a; September lard, 71ac
higher, at $4.65, and September ribs 71A@1oc
higher at $5.30@5. 32k. Estimated receipts
Monday: Wheat. 400 cars: corn, 1920 cars;
oats, 815; hogs, $4,000 head.
Prl,, f,rfI god