The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-12
up AND DOWN DAY
OPPOSING INFLUENCES RESVLIEls
IN A DECIDEDLY TURBULENT
WHEAT MARKEr.
NET GAIN IN THE END.
lilly ON A CLOSING HOUR FURRY
CLOSED HALF CENT
HIGHER.
FORM AND OATS WE'RE STRONG.
Hog Products Were Easy All Day
But Recorded No Material
Change in Prices.
MARKET SUMMARY.
FINANCIAL.

CHICAGO May 11.-Wheat had varied
experience today. The government crop re-
mort pulling one way, and bad CALIFORNIA
crop reports and large export business,
Juggling in the opposite direction, made de-
cidedly turbulent market of 1t. In the END
July advanced 1ac. Corn and oats were re-
markably strong, gaining Zee and Ac re-
spectively. Provisions were easy, but show
no material price change.
Wheat showed at the opening the disap-
pointment felt by the crowd at the govern
ment crop report issued yesterday. Thls
and the fact that Liverpool was lower at the
opening started July at 721s@as, decline OF
ss612c from yesterdays close, and under the
liquidation which started further decline to
~ took place at once. But the reaction was
as sharp the decline had been. This was
due primarily to the reiteration of crop dam
age from California, and was helped along
by quick improvement at Liverpool. An
other matter that went a long way toward
celebrating the bearish effect of the govern
ment report was the elimination by the board
of No. 9 spring as a contract grade July
soon wanted 721ac, but dropped back 10 Use
before going higher. 1t had several rapid and
material changes after that. 1t rose to 727sc,
and declined to 715sc, then back again TO 722sc,
all of those before u o'clock. The leaders
in the trade were very much mixed about
the market, may be judged by the sud
den plunges it made, being SO suddenly fol-
lowed by impulsive rebounds. Chicago re-
ceived II cars, Minneapolis and Duluth got
49S compared with 399 a week ago. and SIS
the corresponding day of 1886. Bradstreet's
reported a reduction for the week in the
worlds visible of 1851 600 bushels The mar
ket continued very variable during the entire
session, but with good deal of confident
selling on hard spots. About twenty minutes
from the close, July was hanging around
7254c, and the market very quiet. During
the last twenty minutes, the market became
suddenly wild and excited, and July shot up
from 721sc to 731ac. The demand for the
moment was enormous The reason given
for it vague rumor that 100 boatloads-
equal to 100000 bushels-had been taken at
the seaboard for export The closing was
nervous at 731ac, asked.
Corn not very brisk in the trading,
but it very strong. 1t opened in a hest
tating way. but soon began to improve and the
best prices of the day were current at the
close. Shorts took alarm at the frmQess of
wheat and the continuation of recent small
receipts. July opened shade lower at 24A
Q7sc, and advanced to and closed at 25ss@1sc.
Exports amounted to 1000 bushels. Oats
were firm with May particularly strong, the
principal influence being the strength of
wheat. 1t was largely changing market.
The demand for shipment was good, but
offerings were scarce Exports were IA oo0
bushels. July opened &c lower at TIC, and
advanced to 1SAc, where it closed ProEi-
sions were again extremely dull, with an I'M
der-current of weakness on account of liberal
hog receipts at Western receiving points.
Buying was scattered, the frmness of grain
preventing any material decline. At the close
July pork was unchanged at $S.62k; July
lard shade lower at $500, and July ribs,
215c lower at $465@4.671a. Estimates: Wheat,
G; corn, 100; oats 155; hogs, 10000 head.
The leading futures ranged as follows: