The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-24
OATS AND WHEAT FARED BEST.
MARKET SUMMARY.

CHICAGO, Dec. 23.-Speculative markets
were all strong today and more generally &C
tive than yesterday, though in the end wheat
and oats were the only substantial benehciar-
les of the improvement. May wheat closed
4sG4c higher on buying principally by the
Letter people, the news. however, favorlng
higher prices. Corn closed a shade higher.
Oats advanced Aq3sc and provisions closed
unchanged to SC higher.
Apparently, the principal reason for the
frmness with which wheat opened was the
strength shown by Liverpool in the face of
the decline here yesterday which was due.
it was claimed. to apprehension over the
European political outlook. That market
showed H@asd advance at the opening here.
May started at 933s@9315c, as compared with
yesterdays closing price of 92b@93c. For a
moment or two the market hesitated and
few sales were made at 93AQ932Sc. Then q
demand set in which, with decided scarcity
of offerings, really the feature Of the early
trading, caused an advance which carried
the price up to 93A@9SBc in a very short
time. 1t reacted somewhat after that. but
by II o'clock had again advanced this time
to 94c. During the advance the Letter buy
ers were on both sides of the market but
presumably bought considerably more than
they sold.
Northwestern receipts were moderate. The
number of carloads reported at Minneapolis
and Duluth was 407, against 524 last week
and 339 the corresponding day OF 1896. Chi
cago received 3C6 cars by rail, of which
104 were contract; inspected into store from
vessel, "a, eco bu No. 1 northern spring. and
from unlicensed elevators $1,000 bu and 1O4
carloads of the same grade. The reduced
number of cars in the Northwest compared
with a week ago confirmed the traders
I'm no bIIlchDpcS with which thew started the
market.
New York. soon after the start. reported
that foreigners were good buyers of De-
cember wheat in that market and the i'm
preston prevailed that the beginning had
been reached of another heightened period
of export buying, such raised prices in
such a hurry last fall. Further strength was
impaired by the report in question. New
York, later in the day. advised the sale for
shipment to London 10000 blu Manitoba
wheat at 9%c per blu, f. o. b., above the New
York price The shipments Of flour and
wheat from that city were equal to nearly
400, COO bu which taken another reason
for buying May wheat here. The total OF
the export clearances of wheat and flour from
Atlantic ports was 100000 blu. The continent
tai markets were, as a rule steady. The
December deal was not seriously disturbed
by the selling of few small lots for account
Of elevator concerns. The momentary de-
preston caused by such selling was soon
recovered from. The dealing in May was
somewhat more active than it was the day
before and the strength more constant and
lasting. During the last hours trading Of
ferings became more liberal, resulting in
decline in May to $3.50. That was the price
at the close.
Corn was fairly active and at times was
strong, especially during the morning. A
good deal OF the strenslh came from the
trmness of wheat and cats About the mid
die of the session the market began to yield
TO some local selling pressure and at the
end the advance had practically disappeared.
Elevator people were the principal sellers.
May ranged from 295sQ2SAc to 1850, closed
a shade higher at lJ12c. oats were strong,
active and higher throughout, though not
all the advance was held. There was quite
a furry during the morning, shorts coz err
ing freely and there being considerable gen
eral buying. The continued urgent demand
sor shipping was factor. Market eased off
a little late in the session on realizing. May
ranged from 231Sc to 227sWZ2%c, and closed
"A & 7sc higher at 23c.
For the greater part OF the session pro-
visions were firm and higher and this not
withstanding the heavy hog receipts and
energetic Cudahy selling. This was especial
" true of pork. The market opened a liCtle
easier but soon improved under a good gen
eral demand. The advance in wheat con-
tributed to the strength. Later the market
became dull and with increased offerings most
of the advance lost, the market, how
ever, closing steady. At the close, May pork
was DC higher at $500, May lard I'M
changed at $4.721a and May ribs unchanged
at 4.571a. Estimated receipts Friday: Wheat, /
$50 cars; corn, 3O5 cars; cats, $50 cars; hogs,
81 coo head.
f0llOwS