The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-25
GRAIN ON cRUTcHES
THE SPECULATIVE BUSINESS IN
THE CHICAGO PITS HALTING
AND SLOW.
MAY OPTION SOLD LOWER.
APPARENT REASON FOR THE
LOSS.
CROP NEWS WORSE THAN EVER.
Damage Stories without Any Very
Marked Effect ON the Traders
Provisions Alone Firm.

CHICAGO, March A.-Specuative business
in grain seemed TO go on crutches today. it
SO hating and slow. Wheat declined
12@5sc chiefly from lack of support, corn
closed unchanged and oats a shade lower.
Provisions was the only market to show any
strength, general advance of 212c being re-
corded
Wheat was weak at the opening. and, for
an hour afterwards the bears had almost
complete control of the market The early
Liverpool cables came 12d higher, but half
of this subsequently lost. The trade
was somewhat disappointed in this, it
was only a feeble response to the buliish
sentiment which ruled here yesterday and
discouraged those who were expecting for
elgn help in putting prices up. The weather
too, was regarded favorable. The bear
strength, however, came from the seaboard
reports, reiterating the stale cry of de-
mand for export. 1t was emphasized by
small cearances of wheat and -four from the
Atlantic seaports in the last twenty-four
hours, the total amounting to the equivalent
OF 100000 blu, of that total 100000 blu were
wheat. May opened at from 1874 to 1880
1914, against yesterdays closing price of
7312c, and worked gradually lower until, in
about hour 1t sold at 72Kc. Mime
apolis and Duluth received 1888 cars, COM
pared with 231 week ago. and 522 the cor
responding day of the year before. Chicago
IS cars. The crop news was of about the
same character as of late-if possible worse
but seemed to be without effect, as the
trade seems to be getting used to that sort
Of news, and the selling by St. Louis, while
sending crop damage news, placed the latter
place under suspicion. Speculative business
was distressingly light and the market rose
and fell alternately over about 15c range on
the execution of buying or selling orders so
small that ordinarily they would not cause
a huctuatlOn of more than Lice, if at all
The report of some little export business
having been done at New York twenty
boatloads and of about 80 coo blu sold here
to millers, were given as the reason for a
recovery in May to 73Ac, after the decline
already referred to. The price eased off
again in the last half hour. May closed at
72%Q73c.
Corn was duh, but there were buyers of
the moderate offerings all day at very slight
concessions from yesterdays closing prices
Receipts were very light at 81 cars, and At
Iantic ports again exported enormously. the
days clearances being LII, 1873 Blu. That
served to steady the market, notwithstand-
ing the weakness of wheat. May opened
unchanged at 245sc, sold to 241ac and rallied
to 24asc, where it closed. Oats attracted no
special attention and there was little to be
SAID of the market. Business for a while
after the opening was moderately good but
during the greater part of the session trade
was more or less dull. The range of prices
was narrow with a tendency towards east
ness. Seaboard clearances were 10000 bu
May opened unchanged at 17Ac touched
171sc, and closed at 17AQ17Ac. Provisions
were dull for a time, but about thirty min
utes from the close the market suddenly de-
veloped strength, though from no apparent
reason. Early sellers became buyers and
trade broadened out considerable, the result
! being that all the early decline was recov-
! cred. At the close May pork was So
! May lard, $425, and May ribs, $4.671b. Es-
umated receipts Thursday: Wheat, cars;
! corn. IS cars; oats, 80 cars hogs. 1900
head
The leading futures ranged as follows: