The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-11
Low CORN RECORD
PRICE AT CHICAGO THE WORST
FOR THE PRESENT CROP
YEAR.
WHEAT STARTED OFF WELL.
SOME LONG LINES WE'RE UNLOADED
AND THE CLOSE WAS
DOWN.
A NET LOSS OF sEvEN-EIGHTHs,
Not Much Attention Paid by the
Traders to the War News From
Abroad.

CHICAGO, Feb. 10.-Corn made new low
record for the crop today. May closed at
235se. Wheat sold at one time Sc above
yesterdays close, but turned weak and closed
at a &c decline, caused apparently by the
overloaded condition of the market. Oats
were also weak and closed sc lower. Pro-
visions declined 507lac. May wheat was Of
fered at the start at 76S4 0767sc, against 77Ac
at the close yesterday. This early weakness
was brought about chiefly by the failure Of
Liverpool TO respond to yesterdays ad-
vance here and by the reported generous
snow falls over the winter wheat belt. The
supposed gravity of the European political
situation received no confirmation from the
action of the foreign markets. Even En-
gIish consols, always sensitive to war rumors,
showed no change, and traders therefore
paid but little attention to the disquieting
reports. But after the first few opening sales
no more was offered at the decline. Holders
OF important lines of long wheat were evil
IDENTIFY more inclined to buy more at the con-
cession in price than to part with any, the
consequence of which was a quick reversal OF
the opening course Of the market.
Later news favored the buyers. Minneapolis
wired that millers were active buyers of
cash wheat. 1t was said that the supply of
wheat in the Northwest was not sufficient
to permit the mills to run to the extent they
did last year, while the demand for -four
was said to be increasing The late cables
indicated that the early weakness in Liver
pool had been recovered and this was help
ing factor; another bullish influence was the
report from Beerbohm showing that wheat
stocks in Europe really decreased over $780,
600 blu in January, instead Of LOO. 900 bu as
reported by the Liverpool Corn Trade News.
Chicago received cars Of wheat, Mime
nnlf and NIL,
pa a week ago, and 439 the corresponding
day Of the year before The bulls stuck to
their recent programme until from 76a4c at
the opening, May got up to 779sc. The latter
proved the dumping place for as much long
wheat as could be disposed of without break
ing all the market The speculative crowd
was apparently overloaded and finding the
demand falling off made an effort to unload
Their offerings were sufficient to break the
market slowly at first, but more rapidly near
the end Of the session. May was finally
forced down to 761sQ76Ac, and closed at
1850
Corn was weak and had for the cause Of it
heavy selling of prominent receivers. The
market received practically no support, and
sellers were aided by the weakness Of wheat
near the close. Exports were rather light
at $4,000 blu. May opened a shade lower at
24c, sold split fraction higher, then de-
clined to 1880, the lowest point yet touched
for the crop. 1t closed at that figure In oats
an easy feeling was perceptible at the start
ana prices gradually sought a lower level
sympathy with wheat is principally respon-
sible for this, although late in the day shorts
showed some disposition to SELL which ma
terially helped the decline. May opened a
shade lower, at 1880, sold to Tic and closed
q. at 371sc. Provisions were easy all day. Hog
receipts were larger than expected and open
ing prices for provisions were lower in con-
sequence. Packers were liberal sellers all
day and still further decline ensued. part
Of which, however, subsequently recov-
at $770@7.721a; May lard, SC lower at $685.,
and May ribs, sc lower, at So. 9503. 9715. Es-
Inmates: Wheat, Il cars; corn, 400 cars; oats,
800 cars; hcCs, 81, 0G0 head.
The leading futures ranged as follows.