The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-10
MARKET SUMMARY.

CHICAGO, Sept. 9.-Wheat took another
long step toward the dollar mark today, the
December option closing at 9724c, or 17sc
above yesterdays closing. Heavy seaboard
engagements and bad reports of continental
crops were conspicuous factors in the ad-
vance. Corn was strong On bad crop reports
and predictions of frost, and closed 3s@kc
higher. Oats advanced 14@3sc. Provisions
closed 712c higher for pork but 21s@p5c lower
for ribs.
The opening in wheat was sluggish and at
a shade under yesterdays closing price. De-
cember started at 9524 0957sc, and sold down
to 953sc before any strength was shown or
support given. The weakness was due to
opening declines at Liverpool and Paris.
Foreign adv;ces, however changed the state
of affairs about half an hour from the open
ing. 1t was stated in dispatches from Odessa
that the crisis in the grain trade in Southern
Russia had been enhanced by the influx of
half a score of Hungarian commissioners, who
were purchasing wheat at any price they
could obtain it. 1t was also stated that the
government had made extraordinary pur-
chases of grain for food reserves as a precau-
ton against another famine. This soon obl:t-
Grated the effect of the slight declines at Liy-
erpooI and Paris, and more urgent demand
arose. the consequence being that by y
The scalpers have fought shy of the market
for some time and were conspicuously re-
luctant to have much to do with it today.
The absence of such an important controlling
force was seen in the difficulty commission
men had in filling orders, mere especially
buying orders, the latter were vastly in
the majority Sudden jumps in the price
were unavailable, as December wheat was
not for sale after the first half-hour by any
one who did not have it previously bought,
and the advance to 977sc was attended by
many fluctuations.
The ordinary market news had nothing very
novel or exciting beyond the Odessa dispatch.
Chicago received 295 cars, only ten of them
contract. Minneapolis and Duluth reported
672 carloads, against l. 043 a year ago. The
Atlantic port cIearances were equal, in wheat
and flour, to 5S5, 900 bu The French demand
for wheat, which has been somewhat in
allegiance, has revived again according to
cab.egram from London, which quoted the
sale 10 France of a cargo Of California wheat.
New York reported 80 boatloads taken there
for export up to about - o'clock. The mar
.iet cont nued strong, 9S1sc being current for
42eceiilber about half an hour from the close
People who were still bearishly inclined con
fined short selling to the May delivery, and
that in consequence got 10 a Slight d!SeJunt,
its price being 97%c when December was
9SHc. BY closing time December had reacted
10 Jf14c.
- Trading in corn was not SO active as Of late.
but the market was very firm. Some OF the
firmh6Es was due to a sympathy with wheat,
but predictions of frost in the Northwest Fri
day, coupled with some of the worst crop re
ports yet received helped to maintain the
price Independent of the course of wheat
Country offerings We're small. Cearances
were $4,000 bu: Local receipts were III
bu. Shorts bought freely to cover toward the
close. December opened a shade lower at
327s033c. sold up to 331263S9sc and Closed at
393s6331.c. Oats opened weak but fTmed up
later and remained so for the rest of the
session. The cash demand was large. over
100000 bu being taken for export yesterday
This was the principal bull feature. Offer
ings were large during the advance, but not
enough to counteract the upward tendency.
Receipts were 568 cars December ranged
from 20%4 21Ac, closing at 2l1s@21Ac.
Provisions were weak in comparison with
the grain markets. although pork showed an
advance at the close. The yellow fever scare
was not so much in evidence, but there was
scattered liquidation by small holders all day.
The cash demand was good. At the c-ose De-
cember pork was 712c higher at $50 De
cember lard unchanged at S4.S5, and Deem
Der RIBS 21sG5c lower at S4.95. Estimated re-
cefpts Friday: Wheat, 800 cars; corn, 30
cars; oats. $50 cars; hogs, 10000 head
The leading futures ranged as follows: