The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-03
MARKET SUMMARY.

CHICAGO. June "A sudden revival Of the
cash demand rescued wheat today from the
slough into which it had sunk during the
morning and brought about an advance OF 34c
per bu by closing time. Corn was hrm,
though showing only about Lice advance.
Oats closed 1kGAc higher. Provisions sur
fered again closing 21@G121ac lower.
For the first time in week, wheat showed
some signs of strength at the opening, and
for an hour the market held firm under COW
ering by shorts. who were more in evidence
than for some time past. The market got part
of its early frmness from the steadlness In
cables the Liverpool market showing little
change and the continental markets being
higher, Notwithstanding the sharp slump we
had Yesterday. Chicago inspected into store
81 carloads and 81, 500 bu were withdrawn from
store Minneapolis and Duluth reported re-
ceipts of 26S cars, compared with 307 a week
ago. and 373 on the corresponding day last
wear The crop report showed points de-
cline in condition since May l, and only 81
per cent of the area Sown to be still standing.
On the other hand, the temperature was more
seasonable and much needed showers were
reported to have fallen quite generally over
the winter and spring wheat region. July
opened at 6714 167ssc, against yesterdays clos
ing price of 670671sc, and advanced to 673sg
671hc, where it he'd for some time. AS soon
as the support from shorts taken from
the market, however. prices quickly declined
and by II o'clock July was selling at 66Ac
The decline uncovered so many buying orders
that it became evident there were still some
heavy shorts willing to take what profit there
was in sales made at over SIC. 1t recovered
from 66a4c to 67Ac, but had another quick
break on the receipt of Bradstreet's report
~ In {hn Wis
the week at only 2,S12,0 900 Blu, whereas the
generally expected decrease was 10000 blu
or over The price dropped on that to $3.50,
but the readiness of the shorts to buy at
anything under SIC was again displayed by
another quick recovery to size. The latter
advance was soon added to, when buying on
long account seen TO be a feature of the
trading which maintaining it. The bulls
took hold soon as 1t became known that
the local inquiry for cash wheat, of which
rumors had been prevalent all forenoon, had
resulted in considerable business. The guam
tity that had been placed was found to some
what exceed 200, 600 bu. July advanced to
677sc, and at the close was bringing 67A@
677sc.
Corn was steady in spite of large receipts
and better weather. Crop bulletins were not
so favorable, and the shipping demand showed
some improvement. Shorts covered generally,
causing the HdrheI 10 receiver IFoH the SiiSHl
opening decline: Local receipts were 1,540
cars. July opened about &c lower. july, 1885
@23Ac. It sold around 23Bc most of the
session, finally advancing to 23B@24c, where
it closed. Oats were firm but dull Most
of the support came from shorts. There was
an urgent cash demand, which was partly re-
sponsible for the advance. The visible sup
ply increased 446, 900 bu. Local. receipts
amounted to 723 cars. July opened &c lower
at 1880, and advanced to T77sG1Sc, where it
closed. Provisions were weak at the opening
due to the lower yard prices, and the tendency
was decidedly downward for some time. The
fTmness of wheat, in the last half of the
session, caused some buying, and about half
of the decline was recovered. At the close
July pork was 1212c lower at $3.50; July lard
shade lower at $3.571a, and July ribs a
shade lower at $4.30. Estimated receipts
Wednesday: Wheat 16 ears; corn 800 cars :;
oats, $50 cars; hogs, 5000 head.
The leading futures ranged as follows: