The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-22
WHEAT PIT TICKLE
CHICAGO MARKET MARKED BY
EXTREME CHANGES OF
SENTIMENT.
REGULAR BOOM TO START.
On AN ACTIVE FOREIGN DEMAND
MAY SOLD UP NEARLY
THREE CENTS.
TUMBLE IN LAST HALF HOUR.
Prices Pounded Down Until the Net
Result of the Day Was 81
Slight Loss.
MARKET SUMMARY.
FINANCIAL.

CHICAGO, April 21.-Wheat was as bad as
woman today in the variety Of its moods
and the suddenness Of its CT ges. 1t started
very strong sold for time advance of
PIC over yesterd and closed at a net loss
of 4c. Strong cables and heavy realizing
we're the factors. Corn equally variable
closing &c lower Oats declined a very
small fraction and provisions closed 212cQ5c
lower.
In wheat, all calculations were upset at the
opening. British consols showed advance
Indicating Indifference to the between
Turkey and Greece. This ordinarily might
have caused a decline in wheat, but the
1Ad advance chronicled at the opening at
Liverpool was a great surprise and started
the local market on a regular boom. Open
ing sales of May were made at 74BQ75c,
against yesterdays closing price of 73Bc 1t
sold at 743sc for few minutes under liberal
realizing, and then an advance started which
did not stop until 1880 had been recorded.
The advance at Liverpool did not stop at
the 12Id first advised, but added from Id
to I'D, making net gain for the day Of
from "a to Cd per Genital, and the latest
cables brought buying orders for cash wheat.
They also reported good demand for spot
wheat at Liverpool. The Northwest COM
planned about the late seeding. Crop dam
age reports came from Ohio, Missouri, Illi-
nois and Indiana and with such doleful pros
poets for the next crop, the frmness of the
market in view of the absence Of alarm about
war, is easily explained. Chicago received
cars of wheat; Minneapolis and Duluth
ported receipts of 20S cars, against 293
week ago. and 36S the corresponding day
Of last year. Exports from the Atlantic
board were equal in wheat and -four to 400, 900
bu Liverpool receded somewhat from the
top closing 219Q234d higher.
The market had many severe changes of
sentiment but the bad crop reports, strong
adVices demand from abroad for -four and
pad advance at Liverpool brought buyers on
every reaction. But the cash situation, strong
as it is, could not stand up against tire at
tack made upon the market in the last half
hour of the session. The people who had
been surreptitiously selling long wheat on
every swell, having the crowd filled up and
their holdings disposed of, turned around and
slugged the market until it was helplessly
weak, and it tumbled like a ball rolled down
flight Of stairs, gaining momentum as 1t
descended. After touching 763s, May reacted
to 7412c and back to 75Ac. About half
hour from the close the sluggers got in their
deadliest work. and by closing time the price
was down to 1850.
Corn started slow, but the strength in
wheat, small receipts and unfavorable
weather soon started good buying with an
accompanying advance in prices. Considera-
BILE long corn was offered at the advance,
and when wheat declined also became
very weak. Exports were $4,000 blu. May
opened unchanged at 2434c, advanced to 25c,
and declined to 2414c643sc. That was the
closing price. Oats opened steady, and for
awhile were quite firm. Shorts were good
buyers and took up considerable. Commits
sion houses also had some orders to fill. The
latter part of the session was quiet and
prices gradually slid off with wheat Exports
were $4,000 blu. May opened at 17$sc ad-
vanced to 175s, and reacted to 17BG17Ac,
where it closed. Provisions did not change
much in value. There was a fair amount of
speculative business in the first half hour,
but it thinned down the session progress
ed. Opening prices were at a slight decline
in sympathy with a weak hog market, and
those prices were hardly deviated from dur
ing the session. At the close May pork was
21ac lower at $S.45; May lard &c lower at
$415 and May ribs, 212c lower at $470 Esti-
mated receipts for Thursday: Wheat, 8
cars: corn, 112 cars; oats, 124 cars, hogs,
q 0G0 head
The leading futures ranged as follows