The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-17
MARKET SUMMARY.

CHICAGO. Dec 16.-Some indications OF a
revival of the foreign demand for American
wheat had q good effect on the market TO-
day, and at tine close May sold 1q1Bc ad-
vance. December was again pusheo ABOVE
the dollar mark, closing at $1.OOH, an adj
vance of sac. Trading in this delivery, how
ever was exceedingly narrow. other mar
kets were strong and weak by turns puI
closed firm, corn and oats 1sc higher each,
while provisions showed 712Q1Oc advance.
Wheat was firm at the opening. May at 9115
0915sc, showing 2sQ1Rc advance, while De-
cember was nc higher at 9S1ac. Some OF the
advance in May was soon lost. Spectators
who had profits in sight on wheat bought
Yesterday took them, and then the trading
became so very light for the rest OF the
forenoon that small holders were discouraged
at the apparently small prospect for any
further advance during the day, and an
occasional 5000 hu or COCO bu lot was sold
by traders of that class. SO narrow was the
market and so indisposed were the most Oh
the traders to do any buying at the moderate
advance that even the selling of such drib-
lets had a rather depressing affect, and from
the opening price May slowly sagged dur
ing the next two hours to Size. For about
an hour of the time referred to 1t stood at
913sc varying only in that time from buyers
to sellers and the reverse.
The features of the early news thai caused
the bullish feeling with which trading started
came from various sources both foreign ana
domestic Liverpool sent higher quotations,
opening sd higher and holding its advance
well to the end. There was further confirm
alton of rain damage to the Argentine wheat
crop; although the bullishness of that was
very much modified by a cablegram from
Rosario. saying that it was doubtful If any
10 had done nv the rain,
Antwerp as well as London and Liverpool,
confirmed the previously reported damage,
Antwerp sending at the same time buying
orders for abou. $50, eco blu May wheat. Zero
or still lower temperature was threatened
for tonight over the unprotected wheat helds
in the greater part of Missouri, all Of Illi-
nois. Indiana Ohio and Pennsylvania, to say
nothing of Kentucky and Tennessee, which
were also said to have lost the snow that
fell in those states few days ago. MIN
neapolis and Duluth receipts were 524 cars,
against SIS the previous Thursday ana 44o
the corresponding day of the year before.
Chicago received 357 cars by rail, OF which
only 1877 were contract; AZ, 900 bu and 90 car
loads of contract wheat were transferred from
unlicensed to regular elevators, the total in
crease In contract stocks for the day being
about 225 OO0 Atlantic port clearances OF
wheat and flour were equal to $4,000 bu.
After u o'clock the previously prevailing
lethargy gave place to a trihe more appear
ance of the market being still awake and in
the course of another half-hour 1t was KICK
ing its heels UP in a lively fashion and nit
ting the bears hard at every jump. On the
reported working at New York OF l5OGOo Du
No. 2 red winter wheat for export, some who
had been waiting patiently for signal be-
gan buying, in consequence Of which May
70 Q2Ip and at the close II
was bringing 921sQ92Ac. Not more than
10000 blu December was traded in. This with
the strength of December was sufficient to
advance the price of that delivery to $l.OO12,
which was the closing price.
Corn acted much as 1T did yesterday, start
ing steady, then showing weakness, but final
" turning strong The early dullness was
caused partly by the dry freezing weather
which was expected to create freer country
movement. Sympathy with wheat was mainly
responsible for the late strength, though the
higher prices ruling West had some influence
Most of the selling was by those VINO bought
yesterday. May ranged from 29Ac to 2Sa4 q
2Szc closing &c higher at 29B@29Ac. oats
for December were weak on liquidation and
May for the greater part of the day acted
weak in sympathy. When wheat and corn
turned firm shorts in May tried to cover, out
found same difficulty in doing so and all
Ehe early decline was recovered. December,
however was weak to the close. May ranged
from 2212c 10 N1sWZZH4c anu closeu 1sc nlsnel
1t 22l9c.
There was more outside trade in provisions
md the market continued to advance. Prices
ut the start were higher on the small hog
receipts. Proft-taking by scalpers caused
most Of the opening advance to disappear
during the forenoon, but advancing wheat
later and prices again went up. At the
close May pork was Ice higher at $S.S5, May
lard TIC higher ait $4.7S12 and May ribs TIC
higher at $4.55. Estimated receipts Friday Az
~
cars; hogs, $4,000 head.
The leading futures ranged as follows: