The Saint Paul globe., 1897-07-10
MARKET SUMMARY.

CHICAGO, July General humidity was in
control of the forces. on change today, and
trading in all the pits was dull in conse-
quence. Wheat was affected by talk of large
purchases Of new wheat for delivery this
month, and closed at a &c decline. All the
other markets exhibited more or less weak
ness, as result of liquidation. corn declin-
ing 9sc, and provisions closing 2141715c lower
Oats were a shade lower at the close.
Notwithstanding lower quotations for fu-
lures of wheat from Liverpool and Paris, the
market here started firm. September, which
closed yesterday at 66l4 d669sc, opened at from
those figures to Lice higher. It's tendency to
rise was soon overcome. After advancing to
66l2066Ssc it turned downward, and about an
hour from the opening it got down to 66c.
The swetering heat of the trading pit was
such that brokers kept away from 1t when
they were not compelled by receipt of an
order to brave the personal discomfort of its
execution. The course of the foreign markets
caused a general suspicion that the foreign
crop injury had been greatly exaggerated.
Expectations of a bearish government crop
report tomorrow also had tendency to re-
strict buying. Chicago receipts were only
two cars. Northwest receipts were light, too.
Minneapolis and Duluth reported 122 cars,
against 242 a week ago, and AIS on the COR
responding day of the year before. Talks of
extensive purchases of new wheat to arrive
in Chicago this month had depressing effect
upon the market in the middle of the day,
and it did not again recover its. early buoy
ancy. The Atlantic port clearances were
very liberal, being equal in wheat and -four
to $4,000 bu but that did not affect prices
to any percep1ble degree. Minneapolis and
Duluth stocks are expected to show decrease
n--pp
to exceed 100000 bu decrease. New York
reported foreign buying orders in the market
but generally at unworkable limits The sales
there for export were said to be only 10
loads for the day. Here sales of spring wheat
for shipment to country millers amounted to
10000 bu. The price of September declined
to 659sc, and closed at that.
Corn was active for awhile In the morn
ing, but the heat finally drove traders away.
Crop reports as a rule were favorable, and
the disposition at first was to sell, but the
demand was so good at the concessions that
an advance soon enSued. That was again fo.-
lowed by free selling predictions of rain
tomorrow throughout the belt, and the
market ruled quiet and weak for the rest of
the session. Local receipts were 446 cars
September opened A0Ac lower, at 271s6G2714c
advanced to 275sc and declined to &c. That
was the closing price. Oats were slow, both
for the cash article and for the speculative
futures. The feeling was firm early, due to
fairly urgent buying by shorts. The market
sod off later. following wheat and corn in
their declines. Local receipts were 253 cars.
September opened unchanged, at 1SAc ad-
vanced TO 18%G1Sl4c and declined to lS1kc,
closing at 1SlBdlSAc- In provisions the mar
ket was one of liquidation. Prices started
at some advance, due to q strong hog mar
ket, but the packers took advantage of it to
dispose OF all the market could hold. The
volume of trading, however, was not heavy
enough to cause radical weakness. At the
r'o&e September PORK was 212c lower, at $40:
September lard, 507I.c lower, at S4.05@4. .0714; ;
September ribs. 2l9Q5c lower, ar 81. 400l.421A.
Estimates: Wheat, II; corn, AIS; oats, 255;
hogs. IA 900 head.
Tho Iaadiny fut.-,a. ronaad q, 1orou,s.