The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-05
MARKET SUMMARY.


CHICAGO May 4.-The fine weather was
again a factor in the grain pits, and the bears
added one more victory today to their numer-
Gus previous successes. All the grain mar
kets and provisions were weak at the opening
and became worse the longer the training
lasted Wheat lost 112c, corn asc, oa0s Nv
pork from 71hc to 10c, lard &c and RIOS f1sc'
In wheat the long looked-for sunshine was
the only feature at the opening, the improve
ment in the weather not only counteraclihs
the effect Of higher quotations from LIVERPOOL
London and Paris, but also wip1ng out ABOUT
1bc of the price which prevailed at the CLOSE
Yesterday The foreign markets were proba-
bly, frmer because of the poor prospect ior
growing crops of the United Kingdom anu
France. With the exception that the weather
was more favorable for seeding, the nome
PROSPECTS were no better but that one fact
overwhelmed everything else. July opened at
7OD7OAc yesterdays closing price being 7O1ac.
1t ranged between that and 69Bc for time,
and then began to feel more and more the
pressure from the short sellers, which showed
no signs of cessation until the price had
been forced down to 69Ac. 1t was hanging
around the latter point when Bradstreets
worlds visible statement was received, at
Il o'clock. That caused a temporary diver
sion in favor OF the bulls. 1t gave decrease
for the week of 6,21S,0 900. Many of the smaller
shorts were in hurry to cover on such strlk-
ing decrease, and many hesItating bulls took
hold also but most of the heavy shorts
waited till the buyers had exhausted them
selves, which they did in very short time
after a sudden squirt that carried the price
up to 701sc. Then the heavy guns We're
turned again on the market, and in half an
hour they had smashed it down to 6SAc.
Chicago receipts were "a cars; Minneapolis
and Duluth got 399 carloads, against 375
week ago, and 521 a year ago, Atlantic port
clearances were quite insignificant at 800
blu of wheat and Is, 442 bbls of flour. After
declining near the close to 6SA @6S7sc, July
stopped at 69c, or 15ac less for the day.
There was fair amount of trade in corn,
in which, as in wheat, the bears had the up
per hand. The weakness was due to the fine
weather in the country favoring the early
preparations for planting and to the weakness
in wheat. July offered very freely. Ex-
shade lower at 25c, and declined to A12c,
where it closed. May oats were steady, but
the deferred deliveries were dull. The ur-
gent demand for the cash article was the
cause Of the buoyancy of this months rain,
and free selling influenced the drop In July
and September. Business was quite neavy,
taken all in all. Exports were $4,000 blu.
July opened shade lower at 1712c, declined
to IKE and closed at 17A@173sc asked.
Provisions were easy, affected principally by
the general decline in the grain pits. Hog
products were also weak and had some in
fiuence. The market opened fairly. steady,
but soon. turned weak and remained so.
July pork at the close was 1Oc lower, at
$S.521b; July lard, about 713c lower, at $405,
and July ribs &c lower, at $3.50. Estimates:
Wheat, u; corn, 140; oats, 1S5; hogs, $4,000
head.