The Saint Paul globe., 1897-05-18
HIT FOR A PENNY
CHICAGO WHEAT LOWER ON WEAh
CABLES AND HEAVY WORLD
SHIPMENTS.
UNLOADING STARTED EARLY.
r,itsr TRADES RoR THE DAY IN
att,a saewNp A SHARP
LOSS,
eeoyiSieNs sprehsRep SEVERELY.
INC Market Rsel Ne sennerf Except
te,e.a shasts aaa the cash pc-
paasaa Mas limited,
enoyaS,eNs steenaep SEVERELY.
MARKET SUMMARY.
FINANCIAL.


CHICAGO, May T.-Al the grain ana pro,
=, ,,,,r,,o,s ruled weak today and cioseo
,,,,,tr,s Wheat was affected by weak ca
-. "a beavv worlds shipments. ana ue
oii,o5 1lSc. Corn and oats lost 1sqAc. ~. lio-
,,s,,rs suffered severely. pork losing q ~
.s1. ,ord and ribs declined about i1sc eaoA.
p,us in wheat had a good deal OF peaiish
,a,,,s :, digest at the opening. The chlel Items
of information were comprised III ehe
ness of foreign markets, fine growing "earne. -
"a b.avv Northwestern receipts. Ihey
oo,sed an Immediate unloading at decline
of from. :ie to 1Ac per bu, OF goou ueHi ~
.u,lv wheat The first trades In that ihontn .
delivery were at from 71asc down " rs,
as compared with 72sc SATURDAY. Ii -
Than an hour July had dropped TO INC. Inc
bulls had more than has yet been hentiohvu
10 sicken them Of their holdings. The Woriu
sb,nments last week were 5,91s,000 bu, COM
nared with 4 1853 900 bu on the week Defore'
This is the largest amount reported IN
months and a 11bd decline at Liverpool was
accredited to that fact. The quantity on
ocean passage increased 1,400, OoO ou. MIL
neapolis and Duluth received $50 cars, against
41g Monday week ago and 4O1 the cor
responding day of the year before the Vlsl-
ble supply decreased 2125,000 bu, against
S54 O00 bu decrease a year ago. The market
WAS not Immediately affecleQ py su0n Z"
heavy disappearance of elevator stocks since
a week ago, but when the last caDiegram
from Liverpool showed I'D of the early l12o
decline had been recovered, the price here be-
gan gradually to rise, and about II O'Clock
had reached 717s@72c. 1t was said that 6Vo'-
GOO bu or so of the wheat reported sold last
week for shipment east by lake, was To-Day
hefne loaded into vessels. That also helped
toward the recovery. But he market weak
ened again after short spurt to 721sc, and,
bv closing time, liquidation had forced July
down to 14c.
Corn was fairly active. The market was
very weak early on the fine weather, the
break in wheat and selling by elevator peo-
ple Later shorts covered literally and part
of the decline was recovered. Exports were
10000 bu July opened 3sc lower at 24%c,
sold at 249sc, and reacted to 24Bc, where 1t
closed Only moderate business was trans
acted in oats. The tone for the most part
was weak on the fine weather, but cash Dusi-
ness partially counteracted this. Prices kept
within a narrow range. The visible de-
creased $4,000 bu. July opened about Ac
lower at 17N11Sc, sold between 177sc and
lS@1S1sc closing at 177sQ1Sc. Provisions
were weak, with everything lower all day;
wheat all helped the decline. The market
had no support except from shorts. The cash
demand was only moderate. At the close July
pork was 221hc lower at $S45; July lard, TIC
lower at $S go and July ribs about sc lower
at $3.50. Estimates-Wheat, 8 cars; corn,
I55 cars; cats, go cars; hogs, 21,00O head.
The leading futures ranged as follows: