The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-27
Slump IN WHEAT
CHICAGO MARKET LOWER THAN AT
ANY TIME SINCE LAST
OCTOBER.
NEW LOW RECORD IN OATS.
CORN ALSO SLOW AND WEAK, IN
FLUENCED BY THE WHEAT
BREAK.
EARLY.
UNLOADED
TRADE
Low Quotations From Liverpool Set
the Pace for the Entire Session
-PrOVisiOns Down.

CHICAGO, Jan. 26-Wheat had a greater
decline today than on any previous day Tor
several weeks and sold below 7Sc for the
first time since the middle of October last.
May brought 79c at the start and sold at
1850 near the close finally resting at 779sc,
q decline of Use for the day. Corn declined
kc. Oats made a new low record for both
January and May. the latter month resting
at a sc decline. Provisions declined 5Q712c
The marked weakness of the opening Liver
pool quotations was all that was necessary to
make a decidedly wobbly start for wheat, as
traders, disappointed at the effect Of the gov
eminent figures on the forthcoming crop,
needed but little to start them to unloading.
Opening sales for May were made at 1880
79c, compared with yesterdays closing price
of 79124793sc, and by IL o'clock the market
had declined to 777sc. The government, be-
sides its estimate of the home crop, published
q communication from Minister Buchanan,
representative in Argentine of the United
States to the effect that Argentina would have
is, 000, 600 blu for export. Minister Buchanan's
letter was dated Dec. 9, and, of course,
lates to condition of affairs which later ad-
vices show to have changed very much. The
report, nevertheless, had some effect Chi
cago and Northwest receipts were again very
light, but that was ascribed to the effect of
the extreme cold upon transportation facil-
tiles. Chicago got As cars, against 124 year
ago. Minneapolis and Duluth receipts were
127 cars, compared with 26S a week ago, and
&06 cars the corresponding day of last year.
Atlantic port clearances were equal in wheat
and -four, to 315, 600 blu. Bradstreet's worlds
visible showed a decrease for the week of
1S7, 900 blu. May had recovered to 1850, but
declined to 77asc, with 779sc the last figure.
The temporary advance to 775sc was caused by
. I'd closing recovery at Liverpool.
Corn was slow and weak Influenced by the
break in wheat, and the expectation Of larger
probable reduction Of rail freights from the
interior. There was considerable liqui-
dalton, and a fair amount of short selling.
The price was already so low, however, that
only 1sc decline resulted. May opened
shade lower at 23A Q237sc, declined to 1850
2SAc, and closed at 23azc. Oats established
q new low record today and that fact was
the principal item of news. The feeling was
weak from start to finish, and closed at the
brought about through sympathy with wheat
although some liquidation was going on in
small way. May opened a shade lower at
17azc, and declined to 173s@171ac, where it
closed. Trading in provisions was extremely
dull. The sellers were chiefly confined to
packers, and even their offerings were light
so that the pit was half deserted during the
greater part Of the session. They were suffi-
ctent however, to produce a small general de-
cline. May pork closed about 71ac lower at
Sl.9212Q7. 95; May lard about sc lower at $40
q 021ac, and May ribs about &c lower at 81 05
Estimated receipts Wednesday: Wheat, 20
cars; corn. 21O cars; oats, ITO cars; hogs,
81, 600 head.
The leading futures ranged as follows: