The Saint Paul globe., 1897-05-29
MARKET SUMMARY.

CHICAGO May 2S.-Wheat after moment
or two OF firmness at the beginning OF the ses-
sion today turned weak and SO conunueu
nearly all through the session. II closed,
however at only Ac decline. weak cash
market and prospects for big crop were
mainly responsible for the weakness. Corn
was heavy, but closed unchanged. oats
managed to advance Bc, and provisions
closed 21AG5c higher.
In wheat the Liverpool market was in
clined to firmness at first, notwithstanding
the previous days uneasiness here. The price
of July on that account was higher at the
opening first sales of that option being from
69Kc to 691hc, yesterdays closing price Delns
69Ac 1t was generally remarked that II lot
no other reason than the fact of four consec-
utive days decline there should be some I'M
movement, while an advance frequently hap
pens under such circumstances. this morn
ing's condition did not favor the rule. AS
against the opening firmness at Liverpool was
the absence of anything unfavorable to the
growing crop and although the signel service
officials came out with prediction that frost
was probable tonight in six of the wheat
raising states, the confidence in big crop
was undisturbed. In a little more than an
hour from the opening July had sold down to
693s @691ac. Bulls got very little comfort out
of Northwest receipts. Minneapolis and Du-
luth reported q total of 437 cars against 474
last week, and 374 last year. Chicago re-
ceived seven carloads and inspected out 6S-
900 bu. Liverpool, which, in the course OF the
day showed I'D advance over yesterdays
closing price, stood at 1sd decline at the close
today Paris was from 10 centimes higher
for early delivery to 10 centimes higher for
September and December. In anticipation of
~. 6nl; Of rryhn oil int
wheat markets where that grade was still
bringing extravagant premiums over spring
wheat reduced those premiums considerably.
The Atlantic port clearances of wheat and
flour were equal to 360,0 000 The market gave
no indications of mending until about an
hour from the close, when coverings by shorts
became quite liberal. July sold as low as
6SA @6S3sc before the reaction commenced,
which had it back to 69c about fifteen minutes
from the close. The latest trading was at
6Skc.
Corn quiet and weak most of the time,
influenced most by the large receipts, 965 cars,
and even larger estimates for tomorrow.
Elevator selling was not SO heavy yesterday.
Shorts covered quite freely throughout and
the slightest decline was ultimately recovered.
July opened shade higher at 23&Q237sc,
declined to 2S1eQ23Ssc, and recovered to 23s4c,
where 1t closed. Trading in oats was SLOW
At the opening there was some Weakness
caused by the large receipts, AGO cars. Shorts
covered, this being about all the business
doing. Country offerings were not so large
July opened a shade lower at 17ss@171Ac, and
advanced to 173sc. That was the closing
price. Provisions showed surprising steadi-
ness, in view of the heavy hog receipts and
the weakness of wheat. These factors had a
slight effect at the opening, but there was
general inclination to cover, and by the close
a slight advance had been scored all around
July pork closed 21Ac higher, at sS.O212; July
lard and ribs, 21a@5c higher, at $3.621sQ Q365
and $4.371s respectively. Estimates Wheat, IS
cars; corn, 1000 cars; oats, 542; hogs, 10000
head.
The leading futures ranged as follows: