The Saint Paul globe., 1897-10-26
MARKET SUMMARY.

CHICAGO Oct PA decline of 11ac in the
December option marked today's session IN
wheat. The market staggered at the
start by the Liverpool weakness, and every
firm spot was taken advantage of by holders
to unload. The decline in was factor
late in the day. Corn was very weak on the
huge visible increase, and closed 1c lower.
Oats declined sc, and provisions closed 2ta
d5c lower light trading.
Wheat opened about 1c lower than it closed
Saturday, several causes contributing to bring
about that radical change. Liverpool quota
tions were from 14d to I'D lower to begin
with. and the Northwestern receipts were
heavy. The worlds shipments for the week
to Europe were again heavy and considerably
in excess of their estimated requirements.
The total quantities from all ports, exclusive
of India, was 9O26, 600 bu against 9,5O4,O bu
last week, and 9,271, 900 bu the corresponding
week of the year before. Minneapolis and
Duluth receipts were l. 633 carloads, 1,411 of
which were at Minneapolis and 222 at Duluth.
Chicago receipts were 2S5 cars.
Apart from the heaviness of the days re-
ceipts however, the news from the North
west was very bullish. Estimates by good
judges as to the crop of the three principal
wheat producing states placed the total at
from 10 600 to 120 000, 900 bu, a consider
able reduction from recent figures. London
advices were to the effect that France was
still bidding for native English wheat, but
that there was no more available, and Rus
sian wheat in London was said to have ed
vanced from Sd to 6d per quarter. The fuc-
tuations hung for an hour and half on the
varying aspects of the visible supply, as the
figures favored disfavored larger or
smaller increase than had been estimated
FTl.z
crease rather smaller than had been looked
for, the amount being 699, 900 bu, against an
increase for the similar week last year of
2, AT, 600 bu. December touched 95c the high
est point of the session, shortly after the an
nouncenent of the visible increase figures.
The quantity ocean passage increased $780,
900 bu. The export from Atlantic ports for
the day were sos, 900 bu as far as heard from
Liverpool closed 6s61d lower A rise of 80
centimes. equal to 224c per bu, at Ant
werp was the occasion of the advance in
December and May in the middle of the day.
The opening was weak at from 94c to 941sc
for December, against Saturdays close of
95c asked. 1t sold at 93&c and from that up
to 95c in a very irregular way. Near the end
of the session it became very heavy, the ex-
treme weakness of corn having some effect.
Longs took profits freely on large quantities,
and there was no inquiry for wheat for ship
ment here or reported from elsewhere. The
pit filled with sellers, and the price dropped
to 9314 @932sc, and was 931Ac at the close.
There was 10 comfort for the bulls in corn.
The market opened weak with wheat at 40
&c decline. 1t remained near the opening
figures until the visible figures were posted.
which showed astonishing increase of A.
275,C00 bu This makes the corn visible A.
100000 bu, or more than double that of last
year. Offerings were heavy after that, with
very little demand. Receipts, 613 cars, We're
away over estimates. Gables were A@%d low
Charters none. December ranged from
263sc to 25$sc closing 1c lower at 255sc sellers.
Oats were lower all day, largely the result of
sympathy with corn. fairly good business
was transacted. There was fair demand for
December, but May offered freely, the
consequence being a widening of the spread
between the two options. Elevator concerns
were the principal traders. Receipts were 1898
cars. There was a good shipping inquiry.
December ranged from 1S12c to 1Sc, and closed
5s.c lower at 1S@1SBc.
Provisions were heavy to begin with on
the heavy receipts of hogs, and the market
was kept in that condition by the radical
weakness of corn. The only sustaining in
1uence a good cash demand. Trade was
quiet and declines were small. At the close
December pork was &c lower at $7.S21a De-
cember lard 212G5c lower at S4.321a, and De-
cember ribs 212@5c lower at $45212. Esti-
mated receipts Tuesday Wheat, 800 cars;
corn, 800 cars; oats, 365 cars; hogs, 26, 600
head.
Tbo 1ao5;,.