The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-29


CHICAGO, Sept 2S.-speculative features
in wheat were all weak today, chiefly through
sympathy with the big break in the cash mar
ket That market upset by 6OO,0UO Du
increase in contract spring wheat. December
closed at 1A@1ssc decline. Corn, under
heavy liquidation, touched the lowest point
of the present decline, closing &c lower.
Wheat was easy at the opening, the heavi-
ness of the Northwest receipts having a
depressing effect. The number of cars re-
ported at Minneapolis asd Duluth was l.S72,
compared with 1924 a week ago. A year ago,
however, but 1852 cars we're received. The
effect of this was an opening decline OF &c.
December, which yesterday closed at 1880
91s4c, started today at 913s@911Ac. For few
minutes after the opening the market showed
symptoms of recovery. The weather West and
Southwest was still very dry, and farmers
were reported to be greatly discouraged on
account of their inability to do their fall
blowing. Reports of damage by drought ana
frost in Argentine were also plentiful This
caused an advance in December to $3.50. 1t
held only for moment or two, and for the
remainder of the session the market ruled
weak There was but one interruption to the
decline and 1t came when the closing Liver
pool cables were posted, showing B@lAd
advance December had previously worked
down to 90sc, but 1t recovered then to 903sc.
Chicago received 4S4 cars, not one of which
was deliverable on December contracts. There
were however, 4S cars of No. spring in
spected into regular elevators, Is of which
came out of local Irregular houses. The guam
THY of No. 2 spring wheat in store week
ago was only 900 bu, and is now 1,135,00o
bu, showing $4,000 blu in addition for the
week. nearly all of which, on its arrived from
the country, was inspected as No. or lower.
AS No. 2 spring will not be regular after
Sept. go this was good deal of bearish fac
tor Exports from Atlantic coast amounted,
in wheat and -four, to $4,000 blu. Continental
cables were irregular, Antwerp reporting 121a
centimes decline, while Paris showed 10
centime advance in September, with later
deliveries unchanged. One feature of trading
was heavy selling of December by one or
two private wire concerns, presumably for
prominent St. Louis operator. The market
as whole, however, was very dull, with
an almost total absence of outside support.
December was selling at 9O9sc at the close.
Corn opened easy and became very weak
as the session advanced. Receipts, $50 cars,
were nearly 200 under estimate but there
were already heavier stocks than could be
handled at previously prevailing prices, SO
that fact had effect The weakest fea-
ture of the situation was that cash corn was
offered &c below December There was free
selling by bear professionals. Shipping de
mand was only fair December opened 1sc
lower, at 2994 @29zsc, sold down to 291sc, clos
ing at 291s@29Ac. There was little doing in
oats. The market was weak from the start,
principally through sympathy with corn.
Longs sold freely during the decline, but
the greater portion of the days businf.s was
scattered. Cash demand continued urgent
and readily absorbed all offerings. Receipts
were Gel cars. December ranged from 2014@
1880, closing &c lower, at 1880.
Provisions were steady at the opening.
The market soon became weak on free offer
ings of ribs by packers generally and of lard
and pork by Cudahy. Yesterdays advance
also brought outside realizing sales and the
table At the close December 10c lower,
at $500; December lard, about 10c lower, at
$4.471h, and December ribs Zoe lower at
$4.75. Estimated receipts Wednesday: Wheat,
800 cars corn, $50; oats, 375; hogs, $4,000
head.
The leading futures ranged as follows: