The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-11
MARKET SUMMARY.

CHICAGO Aug 1O.-Wheat today rose 12c
above the highest point touched during
the recent bull campaign and 2$sc ABOVE
the closing price of yesterday. Reallzlhe
caused some reaction but net advance OF
15sc was maintained. The principal element
of strength was the advance in Foreign mar
kets. Corn was strong and gained Psc oats
svmpathized to the extent of Ac. ProVlSlons
averaged strong but suffered some from real
izing. Pork gained 215q5c; lard and ribs, 212c
each.
Wheat fully re-establshed its reputation of a
friend to the bulls by the manner of its
opening The first bids for September were at
from 7714 d773sc and after fuctuating few
minutes between the opening figures and
771sc. it commenced to add a few larger frac-
lions. and by II o'clock it was bringing
7Ss4c or 17sc over the previous days clos
ing price The foreigners sent the most in
fuential news, contributing TO the strength
thus indicated. Mail advices from Paris were
of the most bullish character and cablegrams
reporting the immediate situation showed that
ten days ago the French market situation had
been strong enough to be characterized as
excited. An advance in wheat overnight OF
from % centimes to As centimes, or the equiv
alent of from 1A623sc per bu, coming after
a long series of similar jumps, appeared to
warrant the strong adjective employed by the
sender. Liverpool opened Ad higher, and rose
to an improvement for the day of 19sd for
futures and 12d for spot. In addition to the
strong tenor of the foreign news, the in
formation from domestic sources was not of a
character to diminish the bullish effect of
the other. The spring wheat in Minnesota and
the Dakotas was not giving the good promise
of earlier indications, and according to con-
sentative grain merchants on the ground the
oil Or toto will no ali ho
average. Chicago receipts were 226 cars and
g. 900 blu were inspected out Minneapolis and
Duluth received 469 cars, 404 of which at
Duluth, which were supposed to consist chiefly
Of wheat en- route from Minneapolis to New
York, to fill previously reported sales. The
cash demand here was rather dull. cable Of
fers being out of line Under the influence
of the large clearances and fear of a bullish
government report, September sold up to
79Ac. Buyers realized freely around &c., and
forced the price back to 7Shc. September
closed at 7S12@7S9sc.
Corn was firm, largely on the strength OF
the wheat market, but due in some degree
also to an opinion that prevailed that the
government crop report would show such a
deterioration for the month to warrant
higher prices. Sellers were cautious and re-
quiFed offers of higher prices to make them
parties to a trade September opened higher
at from 26a4 to 267sc, advanced gradually to
273sc, closed 27Ac.
Business in oats was quite heavy and
fluctuations were wider than for some time.
Influential buyers caused the advance. Sep
TENDER opened &c higher at 1876, advanced
to l714c and was offered at 1880 at the close.
Provisions were stronger early ON light
receipts of hogs and sympathy with wheat,
but liquidation set in and most of the ad-
vance was lost. September pork started 10c
higher at $3.50, rose to $7.85, reacted to
STE closing at $7.72@7.75. September lard
opened &c higher at $4.3O, sold between $4.S2
and $4.27, closing at $427 bid. September ribs
opened SC higher at $4.75, sold at $477 and
$40, closing at $472 sellers.
Estimates Wheat, 1876 cars; corn, 500 cars
oats, $50 cars; hogs, $1,000 head.
The leading futures ranged as follows: