The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-15

CHICAGO, Dec. 14-The uncertainty of the
December deal in wheat acted as a clog to-
day upon the futures that otherwise would
in all probability have made some response
to a number of bullish items in the days
news. There were some legitimately bear
ish influences, such as heaviness and lower
prices in continental morkets, that, with the
help Of a &c further drop in December, helped
to wear 1ac off the May price, the declines
being established at the close. Corn and oats
were dull and closed at trifing declines. Pro-
visions were strong, and advanced 2h@5c.
May wheat started a shade under the price
it closed at yesterday opening B@Ac lower
at 90BG91c. The receipts here were 425 cars
against II year ago, but a good deal more
had arrived today by lake that had not yet
been inspected. The Northwestern receipts
were 5S2 cars against 734 a week ago and 440
the corresponding day of last year. The total
quantity of contract wheat in regular Chicago
elevators at close Of business Saturday last
was S,6SO,000 bu. The receipts of the last two
days will add about 1 $50, 600 blu to that, and it
is generally supposed 100000 blu more have
been accumulated in private elevators, to
be thrown at the heads of the bull clique at
the proper moment. 1t is evident that 1t
will take an immense sum to pay for the con-
tract wheat that will be rendered on short
sales during the remainder of the month and
this fact was apparently in the minds of
traders at the opening. There was a quick
rally however, on buying by shorts. News
from the Argentina c-n., was very unfavor-
eh'e. oei .ous damage, it was said had been
done to the wheat crop in that country by
heavy rains. The cash demand at Liverpool
was also better, and that market, considering
the slump here yesterday, was remarkably
strong, opening at but 2sc decline and re-
covering about all of that br the time this
market opened. The buying which this news
started carried the price up to $3.50.
About II o'clock the market became dull
and remained SO for the remainder of the
session. The lack of interest, of course had
its effect on prices, which slowly sagged. The
Atlantic port clearances were again very
heavy, equal to 1900 bu In wheat and -four
The continental markets were heavy Paris
quot ng defines in -four of from so centimes TO
so confines and in wheat of from 50 centimes
foT December to 10 centimes for March-May.
Antwerp was % confines lower for red winter
and 121A centimes lower for Walla Walla
The Argentine crop, according to Beerbohm
is not likely to be over 100000 quarters
4SOOO,OCO bu), compared with scant 1900, 600
quarters (32,000,C00 bu) the year before AS
less than 100000 bu were shipped from last
year ) cfop, IL 1ouoWS that 10, $4,000 blu will
be the limit of the exportable surplus from
this seasons crop. The present heavy ex-
ports from the country are expected to come
to an end in about a week. as the foreign
purchases for forward delivery will have been
filled by that time according to New York
advices. In the meantime the December
bulls were letting the market severely alone,
and although 1t had advanced to $103 during
the morning on the purchase of a bare 3d.
GOO blu it declined Immediately after the small
buying was over. The actual business in
December during the session did not ex-
coed 100000 blu. This neglect of December
also had its effect on May. Shortly before
the close it sold as low as 9O1h@905kc and
the final price was 903sc. December closed
at 971ac.
Corn was steady without much activity
IN the trading. The early wheat strength
helped the market somewhat The market
eased later with wheat. May ranged from
at 2S9sc Oats were quiet and easy with
fluctuations confined to a narrow range
Trade was practically featureess Sympathy
with wheat was the most important factor
Cash demand was not so good May ranged
from 22$sQ2212c to 22Ac and closed 1sc lower
at the latter price Provisions were quiet
with buying by Cudahy about the only feature
of interest. The weeks exports were 50
per cent larger than the same week last year.
The market ruled firm and prices advanced
sharply. At the close May pork was SC
higher at $500, May lard DC higher at $4.571k
and May ribs PIC higher at S43714. Estimat-
ed receipts Wednesday: Wheat $50 cars
head.
The leading futures ranged as follows.