The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-09

CHICAGO Dec. S.-December wheat sold
today at $1.O1 and closed at $1.GOA, or &c
above yesterdays close. May also advanced
%c Receipts in the Northwest at last are
falling below those of last year. This fact
caused anxiety among the shorts and was
undoubtedly the principal reason for the
advance. Other markets were uninteresting.
Corn closed a shade lower, oats unchanged
and provisions PIC 712c lower.
A frmer tone was observed in wheat at
the opening and it improved as the session
progressed. The chief incentive to buy came
from the further decrease in the deliveries
in the Northwest, and though other bullish
news came in during the day, this proved
the most sustaining factor throughout. For
the first time shorts in December showed
real anxiety. December opened at 99c or &c
above yesterdays close. A little selling by
the bull clique sufficed to put the price back
to 9SAc, but an hour later attempt to
buy a few lots put the price to 81 very
quickly. The interest in the option did not
then die out, as it did yesterday. More buy
Ing orders came in after a slight reaction
which put the price to $1.01 Again the bull
crowd let go, but for the rest Of the day
December showed an affection for the dollar
mark There was good action in the May
price also, due partly to the bidding up of
opened a shade over the Tuesday closing at
S9&c and sold at once to soc. The first hour
found the price advanced 14c over last night
to 9O9sG9O1ac. Then when December
went to 81. May sold at 9O5sc. When Deem
Der went to $.O1 May sold up to Gle. 1t is
fair to suppose that fully lie of this gain was
due to the pressure in December.
Chicago receipts were still as dispropor
tionately heavy as ever, numbering 256 cars,
compared with q cars last year, but there
are extraordinary inducements being offered
to bring wheat here if it Is up to the high
requirements of the Chicago contract quality.
Minneapolis and Duluth reported GOO cars
received, against us the Wednesday previous
and 500 the corresponding day of the year
before. In view of the fine weather and
the cash premium, this was regarded as aug
uring a permanent let-up in the heavy re-
ceipts in the Northwest. Bradstreets worlds
visible statement was a surprise and was
influential in the high prices both of De-
cember and May. 1t showed a decrease of
447 900 bu, whereas an increase of at least
3,000,0 600 blu had been looked for. The pri-
mary market receipts were SO, eco bu, COM
pared with 576 GOO Blu the year before. At
lantic port clearances of wheat and flour were
equal to 604 600 bu. During the last hours
trading May sold off to 9O1Ac on realizing,
and closed at 9O12G9O3sc. December closed
at S1.OOH.
Corn was utterly Indifferent to the advance
In wheat and barely managed to hold its
own. Outside of a little trading in May
early in the day, there was almost nothing
doing. Receipts were moderate, $50 cars, but
country offerings showed an increase, and
this country selling caused even the slight
early advance to be lost. Cables were steady.
Clearances amounted to $4,000 bu. Shipping
demand poor considering the nearness Of
the close of navigation. May ranged from
2S12c to 2S3sc, and closed a shade lower at
2S9sc. Oats, though quiet, were firm, helped
by the strength of wheat. December showed
especial firmness, showing 12c advance at one
time. There was some covering by shorts
in that option. Commission houses were
moderate buyers of May, as were elevator
concerns Bradstreets showed a visible in
crease of 307, 600 blu, about the only bearish
influence. Receipts were 304 cars. May
ranged from 22Ac to 221sc, and closed I'M
changed at 221sc.
Provisions were weak from the start Hog
receipts were much larger than expected and
heavy selling by Cudahy helped to further
weaken the market Local operators and
packers took the offerings. There was a
slight recovery from the bottom. January
pork closed TIC lower at SS.2212, January
lard &c lower at $425 and January ribs 712c
lower at $41715. Estimated receipts Thurs
day: Wheat 200 cars; corn, 400 cars oats
$40 cars: hogs. $4,000 head.
The leading futures ranged as follows: